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Insurance industry can collaborate with telcos, e-comm, fintechs for deepening reach: LIC chief
Siddartha Mohanty, MD & CEO, LIC "Current channels, including...
Panda seeks more conglomerates to enter insurance; Irdai nudging more cos to list
Debasish Panda, chairman, IRDAI The regulatory body's chief said...
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.
Insurance companies remain prime targets for Private Equity:AM Best
private equity firms also have infused considerable amounts of capital to spur rapid growth—a strategy that insurers do not typically execute well. In the first year of private equity ownership, 38% of companies reported increases of over 20% in capital and surplus, rising to 43% in year No. 2 and 50% in year No. 3.
Covid will be reduced to an endemic in future, zero figure in Delhi unlikely: Experts
Dr Suresh Kumar, medical director of Delhi government-run LNJP Hospital said there will always be a few cases of the virus.
”Zero is an unlikely figure. The virus is mutating and it is difficult to predict it’s future behaviour,” he said.