The flow in January was the highest since March 2022, when...
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RBI plans new framework for authentication of digital transactions
To enhance the security of AePS(Aadhaar Enabled Payment System )...
RBI leaves key rates unchanged as inflation remains above 4%
Monetary policy must continue to be actively disinflationary, RBI...
Verisk launches Life Risk Navigator Software Platform
“As the life insurance industry undergoes a digital transformation, the demand for modern analytics platforms has grown significantly,.Life Risk Navigator brings together a robust modeling suite and allows organizations to streamline their pricing, ERM, and portfolio optimization workflows into a single platform.”” said Maroun Mourad, president, global underwriting at Verisk. “
Munich Re’s Covid-19 reinsurance losses at €700m in Q2
The largest share of these losses is attributable to cover for major events,with a lower impact reported in life and health business as well as other lines of property-casualty insurance, including business interruption. At this time, Munich Re perceives considerable ongoing uncertainty with respect to the macroeconomic development and the financial impact of COVID-19, and does not expect that uncertainty will subside between now and early 2021
Insurance software firm Majesco acquired by PE outfit Thoma Bravo for $594M
“We are extremely excited to partner with Thoma Bravo,a firm with an established track record of working with companies transitioning to the cloud.This transaction delivers significant cash value to our stockholders.Moreover, the added flexibility we will have as a private company, combined with the benefit of Thoma Bravo’s knowledge and domain expertise, can allow us to more effectively focus on our long-term investment and growth objectives, to the benefit of our employees, customers and partners.We are in alignment with Thoma Bravo on our strategic vision to help global insurers transition to the cloud,” Majesco CEO Adam Elster said
Swiss Re’s digital insurance platform iptiQ gets a new CEO
In his new role at iptiQ, Carlo Bewersdorf will be focused on driving Swiss Re’s ambition to protect more people and their families by making insurance more accessible and engaging. He will seek to further develop a business model based on forging strong partnerships to sell insurance via trusted brands. At the heart of this effort is the drive to dovetail Swiss Re’s expertise with the smart use of data and technology to create no-fuss, scalable digital insurance solutions.
China raises equity investment cap for insurers to 45%
Record single-day spike of 40,425 COVID-19 cases; India’s tally crosses 11 lakh
The death toll due to the disease rose to 27,497 with 681 fatalities reported in one day.India’s COVID-19 tally crossed the 11-lakh mark, just three days after it crossed the ten-lakh mark.According to the ICMR, a cumulative total of 1,40,47,908 samples have been tested up to July 19 with 2,56,039 samples being tested on Sunday.Of the 681 deaths reported in the last 24 hours, 258 were reported from Maharashtra, 91 from Karnataka, 78 from Tamil Nadu, 56 from Andhra Pradesh, 38 from Uttar Pradesh, 36 from West Bengal, 31 from Delhi, 20 from Gujarat and 15 from Madhya Pradesh.
Corona Kavach health insurance policy evokes good response: Insurers
“The response has been tremendous as people are quite eager to buy these plans. Since these plans have gone live on the PolicyBazaar’s website, the company has been selling 300-500 policies per day,” said Amut Chhabra, Head-Health Insurance, Policybazaar.com.
Most customers buying these plans are young individuals, he said, adding that “the policies are very much affordable like Rs 208 monthly, which is a fairly cheap amount.” Observing that the response to the Corona Kavach is from across the country, he said, the policy is “following the same trend as the corona situation right now in the country with people from Maharashtra, Tamil Nadu, Karnataka, Delhi NCR showing massive interest in the newly launched plans”.
India plans to reduce number of state-owned banks to just five: sources
The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India,Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.
First human trial of AstraZeneca COVID-19 vaccine shows promise
Researchers said the vaccine caused minor side effects more frequently than a control group, but some of these could be reduced by taking paracetamol, with no serious adverse events from the vaccine.
Floods kill scores in India’s tea-growing Assam; nine rhinos drown
“It’s hard to enforce social distancing when people are being ordered to move away from the rising waters,” said Sanghamitra Sanyal, a member of the northeastern state’s flood management force.