Justice N Anand Venkatesh quashed the notice dated September 26,...
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100% FDI: Govt expects insurance industry to grow at 7.1% annually over next 5 years outpacing global and emerging market growth
This enhanced limit will be available to those companies which...
Bima Sugam and Bima Vahaks poise to revolutionise country’s insurance penetration: NIA Chief
l to r-Sushama Anupam, General Manager(GM), New India...
Record global InsurTech funding of $15.8 billion in 2021:Report
By the end of 2021, an enormous $41.65 billion had been invested globally into InsurTechs across 2,249 deals in 63 countries. It included 99 mega-round deals, which accounted for $21.88 billion of the total. Therefore, more than half of all the investment (52%)...
Exxon declares force majeure on Russian Sakhalin-1 operations
The Sakhalin-1 project produces Sokol crude oil off the coast of Sakhalin Island in the Russian Far East, exporting about 273,000 barrels per day, mainly to South Korea, and to other destinations including Japan, Australia, Thailand and the United States Exxon said on...
ONGC struggles to ship Russian oil to Asia as sanctions bite
Moscow’s ability to ship that grade, which requires vessels that can break through ice, is becoming harder due to concerns from shippers over reputational risk and the increasing difficulty for Russian assets to find insurance coverage New Delhi: India’s Oil and...
ManipalCigna Health’s new product to provide cover to diabetes, obesity patients with 90 days waiting period
Prasun Sikdar, managing director and CEO, ManipalCigna Halth Insurance The product offers cashless services even for OPD expenses, industry first feature `Switch Off' that allows customers to switch off the cover while travelling abroad from second year onwards, for a...
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...