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Prasun Sikdar set to become the first CEO of Bima Sugam
Prasun Sikdar,MD & CEO designate, Bima Sugam India Federation...
Govt takes a host of measures for LGBTQI+ community
Department of Financial Services (DFS) has issued an advisory that...
Insurers prefer private equity investments over Hedge Funds: Goldman Sachs Survey
Private equity was the most-favored asset class for insurers seeking to increase investment returns, followed by middle market corporate loans and infrastructure debt, the survey said.
Private equity returns in the past 10 years “have been strong and have outperformed other asset classes,” Michael Siegel, global head of insurance asset management at GSA, told a media briefing, which he said helped explain consistent insurer interest in the asset class in recent years.
Why India is shattering global infection records
Despite warnings and advice that precautions were needed, authorities were unprepared for the magnitude of the surge, said K Srinath Reddy, president of the Public Health Foundation of India.
Critics have pointed to the government deciding to not pause Hindu religious festivals or elections, and experts say that these may have exacerbated the surge.
“Authorities across India, without exception, put public health priorities on the back burner,” Reddy said.
`Insurer can’t invest more than 10% of their outstanding debt in a single InvIT/REITs issue’
-The cumulative Investments in Units and Debt Instruments of InvITs and REITs shall not exceed 3% of total fund size of the Insurer at any point of time.
– No investment can be made in Debt instruments of an InvIT/REIT where the sponsor is under the promoter group of the insurer.
Investment in Debt Instruments of InvIT will form part “Infrastructure Investments”.
SC wants “national plan” on Covid-19 situation, including on oxygen supply; Del HC says “country being run by God”
While the top court ‘suo motu’ (on its own) took note of the “grim” situation in the country and the havoc caused due to shortage of oxygen cylinders in hospitals, the Delhi High Court observed, “We all know that this country is being run by God,” a day after it came down heavily on the Centre over the Covid-19 management.
India reports highest single-day spike with 3,32,730 new COVID-19 cases
The country has recorded 2,263 new deaths due to COVID-19 in the last 24 hours. As many as 1,86,920 people have succumbed to the viral infection in India so far. There are 24,28,616 active COVID-19 cases in the country now
HSBC Life appoints global head of customer proposition
In her new role, Ying will lead HSBC Life’s Product Strategy, Proposition and Governance teams, reinsurance capabilities, and Bermuda captive business. She will lead the rapid evolution of HSBC Life’s nascent Health and Employee Benefits platforms, shape the business’ sustainability agenda, and embed a systematic customer-centric design culture in both our products and platforms.
LIC’s record new prm of Rs 1.84 trillion,Pvt life insurers’ new prm grows 16.30 % to Rs 94k in Fy 2020-21
During the fiscal 2020-21, LIC achieved first year premium income of Rs 56,406 crore under individual assurance business, a growth of 10.11 per cent over FY20.
The insurer’s pension and group schemes vertical also created a new record by clocking its highest ever new business premium income of Rs 1.27 lakh crore over a huge base of Rs 1.26 lakh crore in the previous year ended March 31, 2020.
23 private sector life insurer, led by SBI Life Insurance has mobilised a total new premium income of Rs 94,103, registering a y-o-y growth of 16.30 per cent during the reporting year.
Maharashtra CM may announce complete lockdown tomorrow to check Covid-19 surge
“All the cabinet ministers expressed views in favour of a strict lockdown to minimise the spread of COVID-19. Ministers come from all corners of the state, so it also indicates that the entire state needs this measure,” Tope said.
India reports highest daily spike with over 2.73 lakh COVID-19 cases, 1,619 deaths
The death toll reached 1,78,769 with additional 1,619 fatalities. In the last 24 hours, as many as 1,44,178 people recovered from the virus. With this, the total number of recoveries reached 1,29,53,821 in India.
Everyone above 18 years eligible for COVID-19 vaccine from May 1: Govt
Under the third phase of the vaccination drive commencing next month, the vaccine manufacturers would supply 50 per cent of their monthly Central Drugs Laboratory (CDL) released doses to the central government and would be free to supply the remaining 50 per cent doses to state governments and in the open market.