Approximately 400 million people have been affected by long Covid...
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SBI General partners with Agri Ministry for promoting PMFBY among farmers
Naveen Chandra Jha, MD and CEO of SBI General Insurance SBI General...
GIC Re to set up a wholly owned subsidiary in UK
GIC Re has also branch offices in London and Kuala Lumpur. In April...
Irdai proposes to standardise administration of group health insurance products
''All risk factors per unit of coverage such as individual, family, group floater, etc, should be separately analysed and priced,'' it said. Further, pricing should be based on sound actuarial principles, supporting data considering all the relevant aspects of pricing...
Swiss Re forecasts a “stagflation-like” environment with slower growth and higher inflation
Jerome Haegeli,Swiss Re Group chief economist Stagflation is fully back on the radar and we now need to be particularly disciplined. 2022 will be a challenging year for insurers with both sides of the balance sheet under pressure" Swiss Re Group chief economist Jerome...
Ransomware a growing cyber risk for US corporates, financials & Govt: Fitch
In 2021, there were 421.5 mil. attempted ransomware attacks in the U.S. and 623.3 mil. globally, up 98% and 105% YoY, respectively, according to a March 2022 report from the Senate Committee on Homeland Security and Governmental Affairs. Ransom payments are also...
Bajaj General’s net profit falls 10% to Rs 248 crore in Q4FY2021-22 on higher covid claims
Bajaj Allianz General Insurance CEO Tapan Singhel It may be only company in the industry, as all the general insurers are yet to announce their FYQ4 2021-22 results, which, at 98.3 per cent, has a combined ratio below 100% in Q4 FY22 as compared to 96.6% in Q4 FY21...
Tata Motors aims to build 80,000 EVs in Fy 2022-23: Report
By 2030, India wants electric models to make up 30% of total car sales. Tata accounts for 90% of India's EV sales - a segment that still only represents 1% of the country's annual sales of about 3 million vehicles Mumbai: Tata Motors expects to aggressively ramp up...
Heat wave disrupts industrial activity as power demand soars in India
Industrial disruption and widespread power cuts are also bad news for corporate India, as economic activity has just started to pick up after months of stagnation amid coronavirus lockdowns New Delhi: India's northwestern Rajasthan state scheduled four hours of power...
Price increases continue to moderate in Asian markets
Globally, cyber insurance pricing continues to show significant rate increases — 110% in the US and 102% in the UK for the quarter London: Insurance pricing in the first quarter of 2022 in Asia increased 3%, down from 4% in the prior quarter, as price increases...
Britain proposes post-Brexit changes to insurer capital rules
Britain inherited the so-called Solvency II rules from the European Union, and reforming them is seen by industry and government as a key reform after Brexit to keep the financial sector globally competitive London: Britain launched on Thursday a public consultation...
Profitability of general insurance sector to improve in FY2023: ICRA
The combined ratio across the industry deteriorated to 119% in 9M FY2022 from 112% in 9M FY2021 with increase in health claims Covid claims accounted for 6% of the total number of health claims paid in FY2021 and are expected to form around 11-12% of the total number...
Insurtech funding in India jumps to $ 800 million in 2021 from $290 million in 2020 :BCG Report
There has been a steady rise in no of insurtech unicorns with over 20 Unicorns in 2021, 14 in United States, 4 in UK, 2 each in India (Acko & Digit Insurance ) & France , 1 each in Austria, Israel & Mexico Jitesh Shah, MD & Partner BCG Asia Pacific...