TDB — together with the African Export Import Bank — has found...
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Swiss Re tackles longevity drug impact with life policy advice
Metformin, traditionally used to manage type 2 diabetes, and...
Nigeria insurance stocks gain most in almost 20 yrs on new law
The law, approved by Nigeria’s President Bola Tinubu, which makes...
Ministry asks banks to cease from using unethical practices to sell insurance policies
There have been instances where life insurance policies were sold to customers aged above 75 years in Tier II-III cities. Usually, branches of the banks push products of their subsidiary insurers. The department has already issued a circular wherein it has been...
Chinese EV firm Xpeng Aeroht’s $1,40,000 car can fly over traffic jams
“The flying car is approaching reality and we think it was the right time to chip in,” Brian Gu, Xpeng’s president, said on the sidelines of the Dubai event, called GITEX In fact, the model is designed to be driven on the road for more than 90% of the time and only...
China in a bind: Whether to recover economy or control Covid spike
Analysts have forecast China's economic growth to slump to 2.8-3.2 per cent this year, which would be the lowest in five decades. China has, for the first time, officially acknowledged Covid deaths in recent weeks. This has given credibility to reports of heavy death...
Rates to stay flat for Ukraine grain cargo insurance-Ascot
Aviation and marine war insurers are concerned that reinsurers – who insure the insurers – will exclude the whole Ukraine, Russia and Belarus region when reinsurance contracts come up for renewal on Jan. 1. A cargo insurance facility providing cover for shipments via...
Insurance density in India rises from $78 in 2020-21 to $91in 2021-22, Insurance penetration at 4.2 % in 2021-22
While the penetration of life insurance sector has gone up from 2.15 per cent in 2001-02 to 3.2 per cent in 2021-22, non-life insurance penetration has gone up from 0.56 per cent to 1.0 per cent during the same period “2022 has been a year marked with milestone...
Insurers settled over 2.25 lakh death claims on account of Covid: Irdai report
The net incurred claims of the general insurers stood at Rs 1.41 lakh crore in 2021-22 as against Rs 1.12 lakh crore in 2020-21, an increase of about 26 per cent New Delhi: Over 2.25 lakh death claims due to the Covid-19 pandemic were settled by insurance companies up...
China likely seeing 1 mn Covid infections, 5,000 virus deaths every day
The situation could get even worse for the country of 1.4 billion people. This current wave may see the daily case rate rise to 3.7 million in January, according to Airfinity Ltd., a London-based analytics firm. There’ll likely then be another surge of infections that...
Random Covid testing for arriving international passengers from December 24
Prime Minister Modi urged everyone to follow Covid-appropriate behaviour, including wearing masks in crowded public places, at all times, especially in view of the upcoming festive season, according to a statement issued by the Prime Minister's Office (PMO).He also...
New India launches Drone insurance, to cover physical damage to the aircraft and its theft
Neerja Kapur, CMD,NIA said, “India’s drone manufacturing industry clocked annual sales of Rs 60 crores in FY 2021 and is expected to grow to Rs 900 crores by FY 2024. Thanks to the impetus given by the Government of India through the liberalised Drone Rules, 2021,...
Amending Insurance Acts: General Insurers oppose changes in capital requirements, granting composite licenses
On granting composite licenses, general insurers say,suddenly letting companies to enter into any segment will result in chaos and fragmentation of existing markets. This will also harm the interests of the existing policyholders in both life and nonlife segments, On...