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India’s Insurance Sector: Robust growth but coverage, profitability challenges prevail
Peeyush Dalmia, Senior Partner, McKinsey & Company, says,...
Next GST Council meet on Dec 21-22, Decision on lower GST rate on health and life insurance
Union Finance Minister Nirmala Sitharaman The 55th GST Council...
Ageas Federal Life Insurance expects 35-40pc premium growth in FY22
With the government allowing up to 74 per cent foreign direct investment in the insurance sector, he said: ”Now FDI limit being hiked to 74 per cent, we have to wait and see if Ageas will pick up the other 25 per cent (from IDBI Bank). The sentiment is pretty positive, but we will have to see.” However, there has been no impact on the business, he added.
SBI Life Q1 profit slumps 43 % to Rs 220 crore on higher Covid claims payout
Total number of Covid claims in Q1 FY22 stood at 8,956 and the Covid-19 claims, as net of reinsurance, stood at Rs 570 crore
Global insurance recovery will be faster, stronger than in 2008: Swiss Re
Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from capital losses, slow economic growth and depleted incomes of companies and individuals.
In contrast, businesses and individuals now have more money from government stimulus and support programs, and are more conscious of the need to buy protection against risks, he added.
Delta infecting even the fully vaccinated at a greater rate
Genomics expert Eric Topolnoted that Delta infections have a shorter incubation period and a far higher amount of viral particles. “That’s why the vaccines are going to be challenged. The people who are vaccinated have got to be especially careful. This is a tough one,” Topol said. reuters
“The biggest risk to the world at the moment is simply Delta,” said microbiologist Sharon Peacock. Until there is more data on its transmission, experts say masks, social distancing and other measures set aside in countries with broad vaccination campaigns may again be needed.
Many now have immunity against COVID-19 but don’t lower guard: Experts
Dr Pooja Khosla, senior consultant (Department of Medicine), Sir Ganga Ram Hospital, said the second wave of the coronavirus has taught us that cases can increase suddenly.
“There are warning signs from different parts of the world. In India too, a small increase in cases has been recorded. Infections can increase exponentially anytime. I think one should not assume anything and make all efforts to prevent a second wave-like crisis, which was a nightmare,” she said.
“Opening everything is not appropriate everyone has been saying the third wave is a couple of days away,” Dr Khosla added.
India’s economic rebound faces rising risk from Delta variant: Reuters poll
“Resurgence in cases and (any) emergence of fresh variants are notable risks for the economy for the rest of the year, particularly at a time when vaccination coverage is short of achieving a critical mass,” said DBS economist Radhika Rao.
“Reinstatement of movement curbs risks deepening the damage inflicted on the informal sector, which contributes to nearly half of the national output and employs a majority.”
Maha: 47 villages cut-off in rain-hit Kolhapur district; 965 families shifted
According to the district administration, contact of as many as 47 villages in Shahuwadi, Panhala, Gaganbawda, Radhanagari, Ajra, Gadhinglaj, and Chandgad tehsils was cut-off from other parts due to roads leading to them getting submerged in rainwater.
Nine new Insurance Ombudsmen selected
Vipin Anand,managing director, Life Insurance Corporation, who will retiring this month end , has been chosen for Bengaluru, Girish Radhakrishnan, who retired as CMD of United India Insurance, has been selected for Kochi.
The other selected candidates are S.Sampathkumar for Chennai, N Sankaran for Hyderabad,B S Pandya for Mumbai, Atul Jerath for Chandigarh, RM Singh for Bhopal, Rajiv D Sharma for Jaipur, Somnath Ghosh for Guwahati.
Death rates soar in Southeast Asia as virus wave spreads
A variety of factors have contributed to the recent surge in the region, including people growing weary of the pandemic and letting precautions slip low vaccination rates, and the emergence of the delta variant of the virus, which was first detected in India, said Abhishek Rimal, the Asia-Pacific emergency health coordinator for the Red Cross, who is based in Malaysia.
US life expectancy in 2020 drops by 1.5 years due to Covid-19 pandemic
“It’s staggering and depressing,” said Noreen Goldman, a professor of demography and public affairs at Princeton University. “The U.S. lags behind virtually all high-income countries in life expectancy, and now it’s lagging further behind.”