Bajaj Allianz Life Insurance has appointed Srinivas Rao Ravuri as...
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Howden forays into Japanese captive consulting and management markets with acquisition of Foresight
Takuya Aibe as CEO of Howden Japan’s retail business Foresight is...
Covid-19 continues cause excess mortality in US and UK, says Swiss Re
Report suggests potential excess mortality in the general...
Gibraltar Japan partners with Munich Re to improve underwriting experience for customers
Seigo Nakano, CIO at Gibraltar Life added: “We have seen an enormous change in the Japanese life insurance market in the past 10 years with the majority of large life insurance firms introducing automated underwriting.
Hiroko Izumisawa, Corporate Vice President at Gibraltar also added: “Our partnership with Munich Re, Japan Branch, allowed us to develop a comprehensive underwriting rule-set which covers over 270 risk factors. It enables us to automatically assess 85% of applications while digitally capturing all application data. We’ve been utilizing the underwriting engine for a couple of months, and so far, customers are reacting favorably to the enhanced application process.”
Delhi govt launches financial assistance scheme for families of Covid victims
”Each family in which a death has occurred due to Covid will be provided an ex gratia of Rs 50,000.”
”We are launching a portal through which such people can apply for financial assistance. Our representatives will also visit such families and get applications filled up,” he added.
The chief minister said such representatives will not reject claims of families in case any document is missing and will only facilitate the process.
There is no income criterion to apply for financial assistance under the scheme.
Reliance Nippon Life declares Rs 306.8 cr bonus for policyholders
The life insurer registered a profit after tax of Rs 50 crore in the year ended March 31, 2021.
This bonus issuance will benefit over 6,85,000 participating policyholders, a company release said.
Two-thirds of communicable infections animal borne, knowledge of zoonotic diseases important: Kerala Minister
She further said that besides the common zoonotic diseases, like leptospirosis, scrub typhus, monkey fever, Nipah, rabies, Japanese fever and West Nile fever, which are commonly reported in Kerala, COVID-19 also poses a threat to public health.
Should people with immune problems get third vaccine doses?
Since April, health care providers in France have routinely given a third dose of a two-dose vaccine to people with certain immune conditions. The number of organ transplant recipients who had antibodies increased to 68% four weeks after the third dose from 40% after the second dose, one team of French researchers recently reported.
Health and Term Insurance Price Index marks a huge jump in Quarter 2
According to the report, there is a drastic shift spotted in the insurance price index of both – Term Insurance & Health Insurance. Both insurance schemes have undergone a major shift in terms of premium prices, age category, etc. in the months of April, May & June 2021.
Unlike Q1 2021, Health Insurance Price Index witnessed a major shift in the 2nd quarter with an increase of 4.87%, marking a surge of insurance premium prices to Rs. 25197 in the index value. The Insurance Price Index of Health Insurance had been constant in the last two quarters i.e. Q4, 2020 and Q1, 2021 at Rs. 24026.
India records 39,796 new COVID-19 cases, 723 deaths
The case fatality rate stands at 1.32 per cent, the data stated.
The cumulative vaccine doses administered has reached 35.28 crore under the nationwide vaccination drive, the ministry said.
“Eight States viz. Uttar Pradesh, Madhya Pradesh, Rajasthan, Tamil Nadu, Bihar, Gujarat, Karnataka, and Maharashtra have administered more than 50 lakh first dose of COVID-19 Vaccine in the age group 18-44 years”, the release stated.
Increase in household debt stress is worrying: SBI report
Household debt — after taking into account retail loans, crop loans and business loans from financial institutions like commercial banks, credit societies, NBFCs and HFCs — has sharply increased to 37.3 per cent of GDP in FY21 from 32.5 per cent of GDP in FY20.
“The decline in bank deposits in FY21 and concomitant increase in health expenditure may result in further increase in household debt to GDP in FY22,” said the report. India’s household debt to GDP ratio is still lower than other countries, though there is need to supplement wage income as a percentage of GDP that has been declining.
Govt likely to invite bids from merchant bankers this month
“We will invite bids for appointment of merchant bankers in the next couple of weeks, the official said, adding discussions are going on with institutional investors.”We are hoping to get regulatory approvals by November-end,” the official said.
Up to 10 per cent of the LIC IPO issue size would be reserved for policyholders.
Govt readies amendments to GIBNA for insurance PSU privatisation
The NITI Aayog was entrusted with the task of recommending a suitable candidate for privatisation of two public sector banks and one general insurance company. The government think-tank is believed to have suggested the name of United India Insurance to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary.