To enable PSU insurers to avail composite licenses, the government...
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Govt seeks to overhaul Indian insurance sector with extensive reforms measures
Insurers to be allowed to do certain other business, in addition to...
Finmin proposes to raise FDI in insurance to 100%, seeks public comments by December 10
According to an office memorandum dated November 26, 2024, it is...
Australia Sues life insurer for causing financial harm to customers
The Australian Securities and Investments Commission (ASIC) has accused MLC, a part of Nippon Life Insurance, Japan’s biggest insurer, of service failures resulting from poor systems and controls over a period from 1999 to 2020, which caused financial harm to over...
Allianz Becomes China’s First Wholly Foreign-Owned Life Insurer
Many foreign financial institutions are looking to expand their onshore presence in China, taking advantage of a relaxation of ownership restrictions for foreign players in the asset management, insurance and securities broking sectors. Allianz said on Wednesday that...
Majority of insurance buyers prefer physical copies of policy document: Survey
Most companies still ask for the original paper document while processing the claim. The insurance regulator must consider restoring section 4 and mandating issuing physical copies of the policy document at the earliest in the interest of buyers, it said. As per...
Global reinsurers remain bullish on Asian markets
With Asia leading the charge, the future of the global (re)insurance industry to be robust, driven by a rapidly changing risk landscape that includes socioeconomic and behavioural changes on top of climate change Singapore: The global reinsurance industry has remained...
Number of people fully vaccinated against COVID-19 surpasses those partially vaccinated
Union Health Minister Mansukh Mandaviya Eligible people across India with a special focus on districts where less than 50 per cent of the eligible population has been vaccinated, the statement said New Delhi: The number of fully vaccinated individuals against COVID-19...
Swiss Re remains positive on global insurance premiums and profitability,expects higher inflation
Jerome Haegeli, group chief economist, Swiss Re Market conditions suggest that positive pricing momentum will continue across all lines and regions. Inflation-driven higher claims development in all lines of business, continued social inflation in the US and...
Anchor investor talks for mega LIC IPO to start next week: Report
Banks plan to file the draft IPO prospectus with the markets regulator by the first week of December, once the embedded value of the firm is finalised, the people said. The government may also allow foreign direct investment in LIC to ensure a diversified and strong...
Big four global reinsurers improve earnings despite high nat cat losses:Fitch
Sharply lower non-life claims related to the coronavirus pandemic more than offset high, and above-budget, natural catastrophe losses, Fitch Ratings says. The pandemic had a strong impact on the life and health reinsurance activities of the major reinsurers, which had...
Every additional year of education in India increases person’s avg income by about 6.7 pc: Study
The study also found that every rupee invested towards the completion of school education is expected to bring an economic benefit between Rs 4.5 and Rs 8.2 in terms of future earnings of each individual The study pegs the total cost of establishing adequate mental...
Christian Mumenthaler, CEO of Swiss Re, appointed Chairman of The Geneva Association
Christian Mumenthaler, CEO of Swiss Re Lee Yuan Siong, Chief Executive & President of AIA, was appointed Vice Chairman. In addition, Amanda Blanc, CEO of Aviva, was elected as a new Board member at the Statutory Assembly of the Association on 11 November. ZURICH:...