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Insurers have to compulsorily cover employees travelling in employer’s vehicle including driver: IRDAI
The compulsory cover has to be provided as an inbuilt coverage...
IRDAI asks insurers to fast track Sikkim flood claims
Insurers have been advised to settle claim payments/on account...
Easing oil prices, recovering rupee see FPIs invest over $1 billion in November
Foreign portfolio investors (FPIs) had pulled out over Rs 21,000 crore from the capital markets (both equity and debt) in September. Before that, they had put in Rs 7,500 crore in July and August.According to depositories data, FPIs infused Rs 3,862 crore in the equity markets during November 1-16, and Rs 4,423 crore in the debt market, taking the total to Rs 8,285 crore ($1.14 billion).
India won’t achieve 2-degree cut in global warming by 2030, says report
“This emission pathway is not compatible with a 2C scenario. India’s sectoral policies are still falling short of being consistent with the Paris Agreement, but the country’s ambitious policy on renewable electricity is a promising sign.”Particular highlights from India include its extremely ambitious 175 GW target for renewables capacity by 2022, its very high level of energy efficiency of the overall Indian economy, and new sector-specific policies such as the national cooling action plan,” it added.
Cyclone Gaja claims 45 lives, rips through Tamil Nadu coast with heavy rain
Chief Minister K Palaniswami sanctioned a solatium of Rs 1 million to the kin of those who died and Rs 25,000-Rs 100,000 for the injured.The chief minister said he has ordered officials to immediately determine the extent of loss and damage in respect of crops, fishing boats, houses, and cattle due to the cyclone
IRDAI forms panel to overhaul Motor OD product structure
“Today, there is a need to revisit the current product structure keeping in view developments in technology relating to motor vehicles as well as the fast changing eco-systems,’’ said IRDAI.
Centre planning share sale offer of General Insurance, New India Assurance
The Department of Investment and Public Asset Management (DIPAM) Thursday invited expression of interest (EoI) from merchant bankers and selling brokers for managing the offer for sale (OFS) of GIC and New India Assurance
Max Life Insurance gross written premium grows by 17 % to Rs 5,619 cr in H1 FY 2018-19
The Board of Directors of Max Life Insurance in a board meeting held on 25 October 2018, approved an interim dividend of Rs 282 crore (including dividend distribution tax).
El Nino may hit Indian Rabi Crop in Fy 2018-19:JBA Flood Model
Dr Iain Willis, JBA Risk Management Singapore Managing Director, explained “There’s currently a 70 per cent chance that the global climate will experience an El Nino warming phase from October this year into early 2019. We know that El Nino can have substantial effects on the rainfall patterns of the Indian summer monsoon. Crop simulations ran using historic climate data suggest that some major Indian rainfed crops, including Soybean and Groundnut, are particularly vulnerable to these changes during El Nino years and can be adversely affected.”
SBI Life bags RIMS first India ERM award
SBI Life’s ERM initiatives have improved processes that identify patterns and indicators to recognize fraudulent claims. Additionally, the risk management team’s efforts support cross-departmental collaboration that allows for a more accurate assessment of customer insurability
Belgian insurer Ageas acquires 40% in RSGI for $210m
T Srinivasaraghavan, Managing Director, Sundaram Finance, said “Ageas is unique in its approach of working through local partnerships and joint ventures across Asia and we believe this can create significant value for Royal Sundaram.The company has demonstrated strong growth in its chosen segments and is witnessing a rapid growth in its profitability. For the next phase of growth, we are delighted to be partnering with Ageas, whose global experience, including several Asian countries, will be an asset.”
GIC Re’s gross premium goes up by 11 % to Rs 27,117 crore, net profit falls by 28 % in H1 2018-19
Though, the agriculture portfolio, which had contributed massively to the GIC Re’s premium kitty in recent years, at Rs 11,296.62 crore had remained flat, the reinsurer, with Rs 5400 crore of fire portfolio and Rs 4439 of motor portfolio, has grown both the portfolios by 25 per cent each in H1 2018-19.