Dinesh Khara, former chairman, State Bank of India Panel will look...
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Aon appoints Jennifer Richards as CEO of Asia Pacific
Jennifer Richards, CEO designate, Asia Pacific, Aon "The Asia...
LIC unveils digital `one man office’ for its sales force
Siddhartha Mohanty, CEO & MD, LIC One Man Office (OMO), offered...
Oneglobal Broking sets up Asian operation in Hong Kong
Jonathan Palmer-Brown,cairman, Oneglobal commented, “This is an exciting moment for Oneglobal as we extend our reach into Asia. I’m proud that we are one of the first broking businesses in Hong Kong to be authorised by the Insurance Authority, which is testament to our strong business plan and outstanding leadership. Anthony Langridge is known to many Asian business leaders and his appointment is a vital building block in our campaign to grow across Asia, which will see new colleague and location announcements in the coming months.”
AstraZeneca to be exempt from coronavirus vaccine liability claims in most countries
With 25 companies testing their vaccine candidates on humans and getting ready to immunize hundred millions of people once the products are shown to work, the question of who pays for any claims for damages in case of side effects has been a tricky point in supply negotiations.“This is a unique situation where we as a company simply cannot take the risk if in … four years the vaccine is showing side effects,” Ruud Dobber, a member of Astra’s senior executive team, told Reuters.
“In the contracts we have in place, we are asking for indemnification. For most countries it is acceptable to take that risk on their shoulders because it is in their national interest,” he said, adding that Astra and regulators were making safety and tolerability a top priority.
Guy Carpenter appoints MD of global risk solutions
Piatti will be responsible for originating and driving opportunities to better serve our clients in the customized reinsurance space across Europe and MENA, including structured reinsurance treaties and capital management/solvency-related transactions. As clients look to further optimize their reinsurance programs, Guy Carpenter is continuing to enhance its ability to create such customized products
“Arogya Sanjeevani”policy can be offered as a group cover:IRDAI
The group policy is expected to provide protection to a large number of employees engaged in manufacturing, services, SMEs, MSMEs,logistics sector and migrant workers, catering to their medical needs, said IRDAI
Govt notifies new rules for e-commerce entities
According to the new rules, the e-commerce players will have to display the total price of goods and services offered for sale along with a break-up of other charges.
Under the rules, e-commerce players have to display details about return, refund, exchange, warranty and guarantee, delivery and shipment, and any other information that may be required by consumers to make informed decisions.
Amazon to offer auto insurance in India
Amazon Pay, the India unit’s payments arm, has partnered with private firm Acko General Insurance to offer car and motor-bike insurance, the company said in its blog.
Twitter shares rise on record yearly growth in daily users
Twitter’s average monetizable daily active users (mDAU) increased 34% year over year to 186 million, above analysts’ estimate of 176 million, in a rise it said was primarily driven by external factors such as shelter-in-place requirements and increased conversation around the COVID-19 pandemic.Chief Executive Jack Dorsey opened a conference call with analysts by apologizing for the hack that compromised the accounts of high-profile users last week, saying “we feel terrible.” In a statement, Dorsey said Twitter had taken steps to improve its security and “resiliency against targeted social engineering attempts.”
SoftBank-backed fintech startup seeks $3.5 billion value in IPO
The startup plans to secure about $250 million in a round of financing at a $2 billion-plus valuation before a September 2021 initial public offering, co-founder Yashish Dahiya told Bloomberg News. Policybazaar is now selecting two to three IPO lead underwriters from a roster that includes several Wall Street banks, said Dahiya, chief executive officer of Policybazaar parent ETech Aces Marketing and Consulting Pvt.“The IPO size will be about $500 million,” Dahiya said from London, where he is currently based. “We have global interest and will raise in the coming weeks” for the pre-IPO financing.
Policybazaar to raise $150 million in third quarter
Growth over the last year is between 70 per cent and 100 per cent depending on insurance product, he said, adding, “this year we should be profitable. We were profitable in FY18, while FY19 and FY20 we were not quite profitable. So this (growth in business) will help us to become profitable from this year onwards.”
Willis appoints Fabien Conderanne as Regional Head of Financial Solutions in Asia Pacific
Scott Burnett, Head of Asia and Head of Corporate Risk and Broking for Asia at WTW adds, “We now live in extraordinary times where the relevance of our solutions and services to our clients has never been more urgent. We invest the time and resources to understand each client’s business, as well as the economic and credit risks that arise from operating in a world where geopolitical threats and regulations are in constant flux. Fabien’s appointment reflects both a commitment to grow our talent and support our clients so that they can build resilience, wherever they operate in Asia.”