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Indian life insurers’ net profit zoom 500 % to Rs 42,788 cr, lower claim settlement ratio at 98.45% in FY 2022-23
During 2022-23, the life insurance industry recorded premium income...
Indian insurance penetration falls marginally to 4% in FY 2022-23: Irdai report
The country’s insurance penetration has fallen as the insurance...
Apr-July passenger vehicle output down 13.2% on Maruti, M&M production cuts
Total Passenger vehicles (PV) production in the April-July period stood at 12,13,281 units as against 13,97,404 units in the same period last fiscal, down 13.18 per cent,Society of Indian Automobile Manufacturers said.
GIC Re’s gross prm rises by 11 % to Rs 20,813, net profit falls by 85 % to Rs 108.60 crore in Q1FY 2019-20
The reduction in the profitability of the company is on account of provisioning of IL&FS and reduction in other income such as exchange gains, said GIC Re.
Rajesh Sud to replace Ghosh at Bharti Enterprises
Rajesh takes over from Soumen Ghosh (Sam) who successfully led and turned around the financial services business. In his new role, Rajesh will lead the Group’s financial services businesses (Bharti-AXA General Insurance and Bharti-AXA Life Insurance) and will also be on the Board of Airtel Payments Bank.
Over 200 dead in four flood-hit states; more than 12 lakh people affected
In Kerala, the death toll increased to 83 and 2.55 lakh people have sought refuge in relief camps, official said, fearing the toll is may go up as 50 people are still missing in Malappuram.
Automobile sales slump 18.7% in July; sharpest decline in nearly 19 yrs
This is the sharpest decline in nearly 19 years, SIAM reported. It said passenger car sales in July were also worst since December 2000 when the segment had declined by 39.86 per cent. Last month, domestic car sales were down 35.95 per cent at 1,22,956 units as against 1,91,979 units in July 2018.
Reliance Industries’ Rs 3,70 trillion enhanced mega risk policy renewed in 2018-19, pays Rs 700 cr premiums
In a bid to support the RIL’s higher insurance cover, the GIC Re, the state owned listed reinsurer,had augmented its capacity for any single risk from Rs 2,500 crore to Rs 3,500 crore in 2018-19.
FPIs remain in sell-off mode, pull out Rs 9,197 cr in August so far
Given the situation, earnings growth is moderating while valuation is expanding. As a result, equity is losing its attractiveness as an investment class and funds are shifting to safe-haven assets like bonds and gold, Vinod Nair, head of research at Geojit Financial Services
Flood related loss in Karnataka Rs 10,000 crore, says CM
Thirty one people have died so far in rain related incidents in Karnataka as the flood situation remained grim in the state.
A total of 3.14 lakh people have been evacuated, of whom 2.18 lakh are staying in 924 relief camps
169 dead in flood, rain-related incidents in south and west India
In Kerala, over 2.51 lakh people have taken shelter in 1,639 relief camps. The toll in the flood fury has gone up 72 while 58 people still missing, according to the report issued by the state government at 7.00 pm on August 11.
Rain and flood leave trail of destruction across several states, dozens dead
The Indian Army said it has rescued around 6000 people and more than 15000 have been evacuated from flood-affected areas in Maharashtra, Karnataka, Kerala, and Tamil Nadu till late Friday.