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FPIs inject Rs 1.7 trn into Indian equities in 2023, uptick in flows in Dec
The year 2023 has witnessed massive investment by FPIs, thanks to...
Cell, gene therapy to rule pharma sector in 2024: Report
"Cell and gene therapies are gradually becoming more important...
Car insurers should repay premiums,British lawmakers say
Major U.S. motor insurers are offering credit to auto and motorcycle policy holders following a decline in driving, as most Americans stay at home under widespread orders to help contain the spread of the novel coronavirus.
Apr1 renewals:57% of SCOR’s €504 mn portfolio from Asia Pacific,6.6% overall price increase
In India, SCOR Global P&C leveraged its local infrastructure to grow its portfolio and benefit from local market conditions which started to improve in 2019, resulting in circa 30 per cent premium increase. The agriculture renewals where SCOR builds on strong fundamentals are still underway
U.S. coronavirus deaths top 47,000 after near-record increase on previous day
The United States has by far the world’s largest number of confirmed coronavirus cases at over 830,000. Cases rose 20,000 so far on Wednesday and were on track to continue the slow but steady decline seen throughout April.
India battles supply snags in race to build affordable ventilators
Before the pandemic, hospitals invested less in ventilators as they are expensive and the devices were available mainly in some hospitals in bigger Indian cities, Bhowmick added.
But companies are now pushing to make affordable devices.
Dynamatic Technologies is making a $33 ventilator that does not need electricity to function, while AgVa is aiming to make 10,000 ventilators by mid-May, priced under $2,000.
AgVa is collaborating with automaker Maruti Suzuki and state-run Bharat Electronics to make parts.
Lockdown In India impacted 40 million internal migrants: World Bank
The Bank said governments would do well to consider short, medium and long-term interventions to support stranded migrants, remittance infrastructure, loss of subsistence income for families back home, and access to health, housing, education, and jobs for migrant workers in host/transit countries and their families back home.
More calibrated monetary, fiscal stimulus on the anvil, says Principal Economic Adviser
International passenger travel would remain shut for a long time, not for weeks but for months, he said citing examples of sectors which will continue to be non-functional.
COVID-19 claims so far likely to be manageable; reinsurers de-risking:Willis Re Report
Reinsurers have showed that the systemic shock of COVID-19 is manageable so far, but the future strength of the sector depends on the severity of the pandemic’s continuing impact on health and economies. The industry retains sufficient capital buffer for extreme events, but the extent to which reinsurers can withstand continued asset-side volatility and increased claims emergence remains to be seen.
Reinsurers have started to de-risk their balance sheets by holding cash, which will have a significant impact on investment returns. Willis Re currently estimates a 5% hit to the global reinsurance capital base, roughly US$30 billion pre-tax.
‘Virus will be with us for a long time’, WHO chief warns
“Most countries are still in the early stages of their epidemics and some that were affected early in the pandemic are starting to see a resurgence in cases,” Tedros told Geneva journalists in a virtual briefing.
“Make no mistake we have a long way to go. This virus will be with us for a long time,” he said, while noting that epidemics in Western Europe appear to be stabilising or declining.
Caronavirus kills 32% of life insurance new premium growth in March, LIC improves its market shares in 2019-20
Due to the disruptions caused by the Covid -19 pandemic, the domestic life insurance industry, consisting of 24 players led by the state owned Life Insurance Corporation(LIC), has degrown by 32 per cent in its premiums collection to Rs 25 409 crore in the month of March, the most crucial month for the industry.
The LIC , with an agency force of 11 lakh , has grown its annual new premium by 25 per cent to Rs 1,77,977 crore in 2019-20.
The corporation, in many years, has improved its market share in terms of new premium income to 68.74 per cent in 2019-20 against a market share of 66.24 in 2018-29.
The private sector, again led by the HDFC Life, at Rs 80,919 crore has mopped up 11.64 per cent per cent higher premium in FY 2019-20.
Robots are playing many roles in the coronavirus crisis – and offering lessons for future disasters
Research laboratories and startups are creating new robots, including one designed to allow health care workers to remotely take blood samples and perform mouth swabs. These prototypes are unlikely to make a difference now. However, the robots under development could make a difference in future disasters if momentum for robotics research continues.