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IRDAI again bans Malaysian broker Confinance from Indian market for 2 yrs in Tata AIG’s Rs 300 cr fraudulent crop deal
The action of Malaysian re/insurance broker Confinance in...
Sebi using AI for investigations, says whole time member Kamlesh Chandra
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ICICI Pru Life’s net profit falls by 6% to Rs1069 cr in FY2020
N S Kannan,MD & CEO, ICICI Prudential Life said, “We had set our aspiration in April 2019 to double our FY2019 Value of New Business (VNB) within four years. I am happy to report that in FY2020, VNB grew by 21% from Rs 13.28 billion to Rs 16.05 billion for FY2020, which is well within the growth range required to meet that aspiration.On the basis of the advise by the regulator IRDAI,we haven’t announced any dividend for the full year. Earlier, we had announced a dividend of 20 per dent in H1.”
Mortality rates drop sharply in parts of India, bucking coronavirus trend
But emergency room doctors, officials, and crematoriums noted that strict lockdowns had cut the number of road traffic accidents and deaths on India’s packed railways, and may also be deterring relatives from reporting a family death.
All over the world, mortality rates are being scrutinised to determine the true impact of the coronavirus, which emerged in China late last year and is known to have infected more than 2.7 million people globally, with nearly 190,000 deaths.
Aarogya Setu app crosses 75 million downloads
Minister of State for Electronics and IT Sanjay Dhotre has asked the services of common service centres for providing telemedicine services, especially in remote parts, during this moment of crisis, as it will bring a much-needed relief to people who are finding difficulty in accessing medical services during this lockdown.
Covid-19 cases in India reaches 23,502,death toll rises to 718
“The growth of COVID-19 cases has been more or less linear, not exponential; this indicates that the strategies we adopted have succeeded in containing the infection to a particular level. Post imposition of lockdown, while the number of new positive cases has increased by 16 times, testing increased by 24 times,” Mishra said in his presentation.
Covid-19 Pandemic:IRDAI asks insurers not to pay any dividends for FY 2019-20
“In view of the emerging market conditions, and to conserve capital with the insurance companies in the interests of the policyholders and of the economy at large,insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions. This position shall be reassessed by the IRDAI based on financial results of insurers for the quarter ending 30th September, 2020,” said IRDAI on Friday.
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Industries cannot be forced to pay wages during lockdown: Chief of par panel on labour
The panel has also recommended that the special provisions in case of lay-off, retrenchment and closure of company, applicable to an industrial establishment having 100 or more workers, should be raised to 300 workers.
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.
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.
Facebook invests $5.7 billion in Reliance unit to reach small Indian grocers
Facebook co-founder and CEO Mark Zuckerberg said, “India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online.”
Death toll due to COVID-19 touches 645; cases rise to 20,178,government plans countrywide survey
In addition to keeping a track of all citizens with the Arogya Setu app, the Indian government has now decided it will call up every mobile number in the country and conduct a survey regarding the pandemic. Details about the nature of the survey are not immediately clear