Nirmala Sitharaman,Finance Minister "The upcoming GST Council...
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Pradhan Mantri Jan Dhan Yojana@10: World’s Largest Financial Inclusion Mission
PMJDY, the world’s largest successful mission has already crossed...
TPA Consolidation: Medi Assist to acquire Fairfax-backed Paramount Health Services & Insurance TPA for Rs 311 cr
Paramount TPA is owned by Nayan Shah family and Fairfax Asia, which...
Latest Covid-19 wave deadlier in Brazil than India: No one knows why
It’s too early to say if India can continue to avoid the more lethal fate of Brazil. While some parts of the country have imposed targeted lockdowns, elections are being held in five states — seeing thousands of voters pack campaign rallies — along with a month long Hindu pilgrimage that brings throngs to the banks of Ganges river.
Govt notifies draft rules for hiking FDI to 74 % in insurance sector
According to the draft rules, in an Indian insurance company having foreign investment exceeding 49 per cent not less than fifty per cent. of the net profit for the financial year have to be retained in general reserve, if the insurer’s solvency margin is less than 1.2 times the control level of solvency for a financial year for which dividend is paid on equity shares.
Not 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.
Covid 19 Pandemic: 9 in 10 Singaporeans still struggling with their mental health, men and younger adults most worried
Wong Sze Keed, chief executive officer of AIA Singapore, says, “While our nation is heading for a post-pandemic recovery, mentally, we are still trying to navigate our way out of COVID-19 uncertainities. It is not enough to only take care of our physical health. This conviction drives our holistic approach to protect the many aspects of our customers’ wellbeing – such as financial, physical, and mental health – to enable everyone to truly lead healthier, longer, better lives.”
Govt approves 15 % wage hike for 1 lakh LIC employees, effective from Aug 1,2017
The new wage hike that has 100 per cent neutralisation of dearness allowances will be notified by the government on Thursday.
After the hike, an entry level officer of LIC- Assistant Administartive officer- will draw a basic salary of Rs 53,600 while a development officer will get Rs 35,650.
The senior most officer in LIC- zonal manager- will receive a salary of Rs 1,63.755.
Life insurance industry in Malaysia to reach $15.7bn in 2025: GlobalData
Amrita Sheela, Insurance Analyst at GlobalData, comments: “Malaysian life insurance industry is driven by retail consumer segment, which accounted for over 90% of total premiums in 2020Indonesia. The economic slowdown and uncertainty triggered by the COVID-19 pandemic restricted consumer spending and impacted life insurance business. As a result, life insurance industry grew by 4% in 2020 against 9% growth registered in 2019.”
New global compact aims to drive down diabetes deaths, boost insulin access
“The number of people with diabetes has quadrupled in the last 40 years. It is the only major noncommunicable disease for which the risk of dying early is going up, rather than down. And a high proportion of people who are severely ill in hospital with COVID-19 have diabetes.”
More than 420 million people worldwide live with diabetes, a group of chronic diseases characterized by elevated blood sugar, which can cause damage to the heart, blood vessels, eyes, kidneys and nerves.
India’s new coronavirus infections hit record of 184,372
The nationwide tally of infections is 13.9 million, with the data showing deaths rose by 1,027, for a toll of 172,085.
Coronavirus pandemic ‘a long way from over’, WHO’s Tedros says
Geneva: Confusion and complacency in addressing Covid-19 means the pandemic is a long way from over, but it can be brought under control in months with proven public health measures, WHO Director-General Tedros Adhanom Ghebreyesus said on Monday. So far some...
AIA Group establishes AIA Variable Capital company in Singapore
AIA is now exploring how the recently introduced VCC framework can support AIA’s investment programme with particular focus on balance sheet exposure to specialist and alternative investment strategies.
India InsurTech Association and Xceedance join hands to promote insurtech sector in India
IIA has joined forces with Xceedance – as the principal sponsor – to forge global partnerships, develop talent, provide insurtech start-up resources, and build its core team. Co-founded by Shwetank Verma, Subhajit Mandal, and Prerak Sethi, IIA bring togethers various India-based insurtech start-ups, re/insurance companies, service providers, and insurance professionals to increase the velocity of digital transformation across the Indian insurance industry.
The association already includes 32 insurtech members, and facilitates networking and focused thought leadership sessions for its diverse constituents.