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Jan1 Renewals:Market softens as reinsurers grow capital following strong returns, GC Report
Dean Klisura, President and CEO, Guy Carpenter Reinsurer return on...
Jan 1 Renewals: Asia Pacific rate reductions approaching 20% for non-loss impacted accounts, says Aon
Alfonso Valera, International CEO for Reinsurance Solutions at Aon,...
Finmin asks state-owned general insurers to focus on profitable businesses
Vivek Joshi,Secretary,Financial Services Oriental Insurance has earned Rs 18 crore profit in FY24 as against a loss of Rs 5,000 crore a year ago, while National Insurance Company narrowed its loss to Rs 187 crore from Rs 3,800 crore, and United India Insurance to a...
IIHL fails to comply with NCLT order on acquiring Reliance Capital: RCAP Administrator
The Administrator, in its affidavit informed NCLT that instead of depositing Rs 2,750 crore in the designated escrow accounts of the Committee of Creditors (CoC) in India and abroad, IndusInd International Holdings Ltd (IIHL) has deposited the money in its own...
Affordable medicines save Rs 28,000 crore under Janaushadhi Scheme
Launched by the Department of Pharmaceuticals, these initiatives aim to alleviate healthcare expenses by providing quality generic medicines at affordable rates, focusing on critical illnesses like cancer and cardiovascular diseases The Prime Minister Bhartiya...
WHO report on half of India’s population is physically unfit based on extrapolations, Nadda
The study findings were based on the data collected from three states -- Tamil Nadu, Maharashtra and Jharkhand -- and Union Territory of Chandigarh New Delhi: The WHO's recent report stating that half of India's adult population is physically unfit relied on data...
Tesla registers insurance brokerage in China
By selling insurance directly to consumers, Tesla could potentially offer lower-cost EV insurance products, which are usually more expensive than those for gasoline cars Beijing: Tesla registered an insurance broking firm in China at the end of July, based on a...
Ayushman Bharat Scheme fraud: ED raids hospitals across four states and UTs
During the investigation, as many as 373 fake Ayushman Cards have been identified wherein claims of about Rs 40.68 lakh (approx) were made for reimbursement from the government in the name of treatments given to the said Ayushman Card beneficiaries, the ED release...
Air India suspends flights to Tel Aviv until August 8 due to escalating ME tensions
In a post on X, Air India stated, “In view of the ongoing situation in parts of the Middle East, we have suspended scheduled operation of our flights to and from Tel Aviv with immediate effect up to and including 08 August 2024.” New Delhi: Amid escalating tensions in...
Delta CEO says airline is facing $500 million in costs from global tech outage
Speaking on CNBC, Bastian said Wednesday that the monetary amount represents lost revenue as well as “the tens of millions of dollars per day in compensation and hotels” for the five-day period. Delta Air Lines CEO Ed Bastian says the airline is facing $500 million in...
Reliance Capital resolution: CoC warns of remedial action against Hinduja owned IIHL
Hinduja owned IIHL failed to meet the deadline of July 31. On August 1, Vistra ITCL, the trusteeship acting on behalf of the CoC, wrote a letter to IIHL that it had defaulted on the NCLT order, now lenders reserve their rights and remedies as per the resolution plan...
Malware attacks in India increase by 11%; 22% jump seen in ransomware
The report stated that a total of 78,923 never-before-seen malware variants were identified in the first five months of 2024. The threat landscape remains complex, with over 500 strains of new variants discovered each day, the report said New Delhi: Malware attacks in...