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GIC Re’s net profit jumps 42% to Rs1036 cr in Q1FY25
N Ramaswamy, CMD, GIC Re GIC Re has expanded its...
LIC eyes majority stake in a health insurance company: CEO
Siddarth Mohanty, MD& CEO, LIC, said the work has already...
Over 500 children orphaned in India due to second wave of Covid
The central government is constantly monitoring all these orphaned children in coordination with the state governments. For the care and well-being of such orphaned children, Rs 10 lakh has been released to each district across the country, through the Non-Institutional Child Care Fund.
As China grows old, elder care costs loom large
According to the National Bureau of Statistics (NBS), in about 25 years, one-third of China’s population will be retirees, and their living and health care expenses will take up one-fourth of the country’s Gross domestic product (GDP). Moreover, China’s increasing elderly population will reduce the supply of labor force and increase the burden on families’ elder care and the pressure on the supply of basic public services.
Cyclone Yass: Mayurbhanj, Bhadrak, Balasore to be worst hit, says IMD
“We are expecting that the well-marked low-pressure area over the east-central Bay of Bengal will concentrate into a depression during next 12 hours and by tomorrow (May 24), it is going to be a cyclonic storm and will continue to move in the north north-westward direction and on May 26 it will reach Odisha, West Bengal, and Bangladesh coast,” Umashankar Das, Deputy Director of India Meteorological Department, told ANI.
“The North Odisha districts, particularly Mayurbhanj, Bhadrak, and Balasore are expected to most affected,” Das said.
Exide Life doubles its PBT at Rs 61 cr in 2020-21, expects 30 % growth in FY2021
He said following the COVID-19 outbreak, there have been a rise for protection policies that the company is selling.
In terms of total sum assured as of March 31, 2021, the company said it has settled about Rs 40 crore towards COVID-19 claims.
”And overall, we have settled claims worth over Rs 322 crore,” it added.
”In the past, we were doing 8-10 per cent of our business in protection policies. But, following the COVID-19 issue last year, we are now doing close to 18 per cent of our business in protection… It’s almost doubling,” Jain said.
India records 257,299 Covid-19 cases; 4,194 deaths in last 24 hours
The active cases further reduced to 29,23,400 comprising 11.12 per cent of the total infections, while the national COVID-19 recovery rate improved to 87.76 per cent.
How long do Covid-19 vaccine protections last? Science can’t say for sure
The gap in knowledge and testing raises the prospect of heightened anxiety in the coming months for vaccine recipients wondering if they’re still protected — anxiety that could curb willingness to venture out in public. That in turn could put a renewed drag on the global economic recovery.
Scientists are racing to figure out the so-called correlates of protection against Covid; in other words, which test results assure immunity.
Irdai slaps Rs 24 lakh penalty on Policybazaar for violating advertisement norm
Policybazaar said it had issued the SMS to keep their customers updated and not to mislead the customers. They also confirmed that they have stopped the SMS immediately on receipt of the Authority”s communication, Irdai said.
ITR filing deadline: Government extends FY21 filing for individuals till September 30
In a circular, the CBDT said an extension of time limits is being given for certain tax compliances “to provide relief to taxpayers in view of the severe pandemic”.Also, the deadline for issuing Form 16 by employers to employees has been extended by a month till July 15, 2021, the CBDT said.
Govt notifies new regulations for increasing FDI in insurance sector to 74 %
Nnot less than fifty per cent. of directors of such insurers will be independent directors, unless the chairperson of its board is an independent director, in which case at least one-third of its board shall comprise of independent directors.
In an Indian insurance company having foreign investment a majority of its directors, a majority of its Key Management Persons, and at least one among the chairperson of its board, its managing director and its chief executive officer, has to be resident Indian citizens, said the draft rules.
USA and China to lead global insurance industry’s growth in 2021: Allianz
the USA (+5.3%) and China (+13.4%) are likely to be the two growth engines. Following the sharp slump in the previous year, the recovery in the life segment (+5.7%) will be somewhat stronger than in the p&c segment (+4.2%).
The strong growth should continue in subsequent years, driven by the increased focus on sustainability and the further rise of the emerging markets.
Globally, average growth of over 5% over the next ten years appears possible.