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EU regulator to test insurers for prolonged COVID economic hit

The European Insurance and Occupational Pensions Authority (EIOPA) said it will test 44 insurers and reinsurers for their resilience to the economic consequences of the pandemic and a “lower for longer” interest rate landscape.

Insurers are exposed to the economic environment through the returns they can earn from investing insurance premiums, as well as from the level of demand for their products.

“We are still in the middle of the crisis,” EIOPA Executive Director Fausto Parente told a media conference.

“The insurance sector is for sure not immune.”

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Medi Assist Healthcare Services files IPO papers with Sebi

Those selling shares in the offer for sale include Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC and Investcorp Private Equity Fund I.

As per the draft papers, the company managed Rs 7,829.5 crore of health insurance premiums for the financial year 2020.

For the nine month ended December 2020, the company reported a total income of Rs 257.44 crore against Rs 245.16 crore a year ago. Its profit after tax was at Rs 33.09 crore for the nine months ended December 2020 as compared to Rs 31.04 crore in the same period last year.

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Alarmed by deaths of teachers, AMU VC writes to ICMR for study of COVID variant

In a letter to the director general of the Indian Council of Medical Research (ICMR), the VC said 16 serving and 18 retired teachers besides other employees of Aligarh Muslim University (AMU) have succumbed to the infection in the past 18 days. There is a possibility that ”a particular variant may be circulating in areas around the AMU campus and surrounding localities, which has led to these deaths”, he said, stressing the need for the study to control the spread of the virus.

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Eli Lilly signs deals to boost supply of COVID-19 treatment in India

The three Indian drugmakers – Cipla Ltd , Lupin Ltd and Sun Pharma – will collaborate with U.S.-based Lilly to help make and sell baricitinib in India.The agreements will bolster India’s arsenal of drugs to battle its catastrophic second wave of the pandemic, which has led to an acute shortage of coronavirus medicines including remdesivir and tocilizumab.

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PILs to safeguard children orphaned due to COVID: HC seeks stand of Centre, Delhi govt

A bench of Chief Justice D N Patel and Justice Jasmeet Singh issued notices to the Union ministries of home affairs, women and child development and health, the Aam Aadmi Party (AAP) government in Delhi and the city police, seeking their stand on one of the pleas moved by a lawyer, which has also asked for financial assistance for the families of the patients who died due to the alleged denial of healthcare such as hospital admissions, oxygen and medications.

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