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Drought-like situation, power crisis in Madhya Pradesh: CM Chouhan
“The month of August has almost been dry, so a drought situation is...
PM says cyber crimes can have social, geopolitical implications; need global cooperation to deal it
Prime Minister Narendra Modi World Bank has estimated that cyber...
Reinsurance regulations to be out by February end: IRDAI
On foreign companies showing interest in entering the Indian market, the regulator said there are four or five that have applied for licenses and have evinced keen interest on the non-life and health front.
Narayana Murthy’s Anviti Insurance Brokers Launched
“Insurance has not yet penetrated in a major way in India, both at the corporate and personal levels. As India develops, more corporations would need to be covered by insurance. Hence, insurance companies have tremendous unexplored value.”N.R. Narayana Murthy
Lloyd’s eyes USD 10 mn prms from India operations in 2018:Inga Beale
Lloyd’s has already appointed three people for its Indian branch located in Mumbai so far and would likely to appoint one more person within a week.Lloyd’s has already got two syndicates in India-MS Amlin and Markel- and is in talks with three four more syndicates those can be part of Lloyd’s branch operations in thecountry
ICICI Lombard Q3 PAT rises 5 pc to Rs 232 cr
Company had an underwriting losses of Rs 28 crore in Q3 FY 2018 as against an underwriting losses of Rs 119 crore in the corresponding period of the previous fiscal. The combined ratio (CR) of the company had fallen to 96 per cent in Q3FY 2018 from 106.6 per cent in the year-ago period.
Tax free Rs 20 lakh gratuity for employees may be a reality soon
At present formal sector workers with five or more years of service are eligible for Rs 10 lakh tax free gratuity after leaving job or at time of superannuation
General Insurance Industry grows by 20 pc to Rs 108,784 crore in Q3
“The growth is quite robust at 18%. Though it is less than the last year’s growth at 30 per cent, but then, last year the growth had been driven by Prime Minister Fasal Bima Yojana (PMFBY). Keeping in view the fact that the country’s GDP was not so high, this growth for the industry is really good,’’ said Sanath Kumar, CMD, National Insurance Company, which is preparing itself to be listed in the Indian bourses soon.
Govt may stall plan to cut drug prices after facing resistance from pharma companies
The Indian Pharmaceutical Alliance and other industry bodies argued these changes would increase drug prices, cost jobs and hamper innovation.
SAT quashes IRDA’s order to transfer Sahara Life’s business to ICICI Pru Life
“SAT has defended our earlier orders: to appoint an administrator in the company, not allowing Sahara Life to do any business further, and referring the matter back to the IRDAI so that Sahara Life can get an oppootunity to represent its stand properly,’’ said the IRDAI sources.
Crop insurance scheme likely to get Rs 13,000 cr in FY19 budget
Total crop insurance claim for 2016-17 crop year (July-June) is estimated to be Rs15,500 crore. Already claims to the tune of Rs 13,661 crore have been reported, of which Rs 12,313 crore have been settled, according to official data
New India Assurance records 20 pc jump in prm at Rs 16,800 crore in Q3
The largest general insurance company in the country has recently concluded a Rs 3-lakh-crore insurance cover for Reliance Industries, the largest risk cover in the country. The premium income from the cover will be Rs 725 crore