Amit Shah, Union Home Minister Union Home Minister Amit Shah said...
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Aon names Terence Williams Head of Commercial Risk Solutions for Asia Pacific
He previously held several senior roles at Aon including CEO, South...
Puneet Swani to head Aon’s APAC Talent Solutions
Puneet Swani, Head, Talent Solutions for Asia Pacific Swani is an...
COVID-19: India now ninth-worst hit country in world with 1,65,799 cases
Of the 175 deaths reported since Thursday morning, 85 were in Maharashtra, 22 in Gujarat, 15 in Uttar Pradesh, 13 in Delhi, 12 in Tamil Nadu, eight in Madhya Pradesh, seven in Rajasthan, six in West Bengal, four in Telangana and one each in Jammu and Kashmir, Andhra Pradesh and Haryana.
Of the total 4,706 fatalities, Maharashtra tops the tally with 1,982 deaths followed by Gujarat with 960 deaths, Madhya Pradesh with 321, Delhi with 316, West Bengal with 295, Uttar Pradesh with 197, Rajasthan with 180, Tamil Nadu with 145, Telangana with 67 and Andhra Pradesh with 59 deaths.
HDFC Ergo collaborates with Apollo clinic to offer health insurace products
HDFC ERGO’s Health insurance policies will be offered through Apollo Clinic’s vast network of 140+ clinics.Apollo Clinic through this tie-up will now offer financial security with HDFC ERGO’s comprehensive health plans – my:health Suraksha and my:health Medisure Super Top-up.
Quarterly global InsurTech fundraising trend slashed by over 50%, COVID-19 a likely culprit:Willis Towers Watson
InsurTechs raised a total of US$912 million during the first three months of 2020.Deal count, at 96, was up 28% over Q4 2019, 10% more than the first quarter of that year. It is the highest number of investment rounds by transactional volume ever recorded by the Quarterly InsurTech Briefing.Overall total funding was down by 54 percent, however, reflecting in part far fewer ‘mega-deals’ (US$100 million-plus deals) taking place in the year so far.
COVID-19 general insurance losses seen higher than 9/11 claims: Willis Towers Watson
Willis also said it has modeled an extreme pandemic scenario, which could result in $140 billion of losses
Gallagher launches Pandemic group insurance product for India’s Front-Line Workforce
“Insurance products generally exclude pandemics, epidemics and infectious disease management in a commercial environment. As such, a COVID-19 specific solution for the India market presents a practical solution for the business community and our clients, and we are delighted to be able to reach this point,” Wade concluded.
Aon to cut salaries of most employees, suspends stock buybacks
Gregory Case, chief executive officer; Christa Davies, chief financial officer; Eric Andersen, president; John Bruno, chief operating officer, and Tony Goland, the company’s chief innovation officer, have agreed to a temporary 50% reduction in their base salary from May 1, 2020 through December 31, 2020, or until another date is determined by the company, according to a filing with the Securities and Exchange Commission.
Total global reinsurance capital rises by 15% to $605 bn at year-end 2019,underlying returns remain low: Willis Re
James Kent, global CEO, Willis Re, said: “This analysis demonstrates how sensitive the global reinsurance capital base is to investment markets. Thankfully strong capital growth in 2019 allied to judicious investment strategies by many companies has put the industry in a good position to weather the current volatile environment. At the same time, the analysis demonstrates that underlying profitability remains a core focus for reinsurers resulting in rate increases across many lines of business, to support the pricing momentum on loss impacted lines that started in some cases in mid-2018.”
Vivek Nath to head Willis Towers Watson’s South & Southeast Asia operations
Scott Burnett, Head of Asia and Head of CRB Asia, said: “The South Asian countries including Singapore continue to be key markets in our Asia portfolio, and one where we hold significant opportunities for strategic growth. At the same time, we continue to grow our regional talent base and expertise by adding new leaders throughout our organisation in Asia.
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.”
Covid-19 Pandemic:India Inc expects negative impact in the next 6 months, says Willis Towers Watson
Almost half of the respondents expect a negative impact on their business in the next 12 months; 19% expect adverse impact to last over a two-year period.
42% have not taken a decision on salary increment budgets for this year, while 33% indicated that performance appraisals and bonus pay-outs will happen as planned.
83% plan to review their work-from-home policy; 55% have no fixed end-date on their flexible work arrangements.