Ayyappan Chakravarty Seshadri, general manager, New India...
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Ambani’s Jio Financial in talks with Allianz SE to set up insurance JVs in India
Mukesh Ambani, chairman, Reliance Industries Jio Financial, helmed...
Allianz to exit 2 insurance JVs with Bajaj Group
Market sources pointed out Allianz plans to exit Bajaj Allianz Life...
Post LIC IPO, 60 pc of insurance biz to be with listed entities: FinMin official
The insurance sector, over the two decades since the introduction of competition and regulation, has matured with 69 insurers today as against only eight in 2000. ‘A majority of these have crossed their initial breakeven phase. Once the proposed listing of LIC happens, about 60 per cent of the insurance industry business would be with listed entities. The sector as a whole has been growing at a pace significantly higher than that of the overall economy, additional secretary in the finance ministry Amit Agarwal said
The cost of saving global economy: $834 million an hour for 18 months
With central banks sucking up so much of the bond market and forcing down borrowing costs, there’s now more than $16 trillion in debt with a negative yield. And it’s part of the reason why money managers say they’ve got no alternative except to keep buying up stocks.
Class action against 9 firms for falling to refund payments during coronavirus pandemic
CCPA was formed in 2020 under the Consumer Protection Act. It has the mandate to regulate matters related to unfair trade practices, consumer rights, and false or misleading advertisements.
Indian companies have been issued instructions to comply with the CCPA orders.
Severe Covid-19 breakthrough cases mostly in older, sicker patients: Doctors
Such “breakthrough” cases have become central to a global debate over whether highly vaccinated countries should give booster doses of Covid-19 vaccines, and to which people. Israel began offering booster doses to people age 60 and up in July, and has since expanded that eligibility.
The United States, citing data out of Israel and other findings, said on Wednesday it would make booster doses available to all Americans beginning in September.
India to add 100 more earthquake observatories by 2026: Jitendra Singh
He impressed upon India’s commitment to supporting various projects of earth system science to quantify the seismic hazard for better land use and urban planning and creating disaster-resilient infrastructures for reducing risks and ultimately paving the way to sustainable development.
July non-life insurance premiums shrug off pandemic cloud: Care Ratings
Non-life insurance premium reached Rs 20,171 crore compared to Rs 16,885 crore in July 2020. The growth was driven by health and fire segments with motor segment also turning in positive numbers.
Has global automobile market revived?
By market, India market showed the largest increase of 95.2 per cent year-on-year. It was followed by Russia (38.2 per cent |), the US (29.3 per cent |), China (27.5 per cent |), Europe (27.1 per cent |), Brazil (26.3 per cent |), and Mexico (18.1 per cent |). Compared to the first half of 2019 before COVID-19, India (1.5 per cent |) and Russia (6.0 per cent |) showed positive growth rate. The U.S. (1.3 per cent |) and China (1.1 per cent |) also showed similar level before COVID-19. However, Brazil (24.6 per cent |), Europe (23.0 per cent |), and Mexico (19.6 per cent |) showed relatively slow recovery.
J&J seeks nod for COVID-19 vaccine trial in Indian adolescents
Conducting vaccine clinical trials among adolescents is imperative to achieve herd immunity against the coronavirus, J&J said in an emailed statement.
The U.S. pharma giant had received emergency use approval for its single-dose vaccine in India earlier this month, making it the fifth authorised vaccine in the country. read more
Japanese general insurance industry to reach $133.1bn in 2025, forecasts GlobalData
Motor insurance is the largest segment in the Japanese general insurance industry with 51.5% of GWP in 2020. It is forecasted to grow by 1.4% in 2021 against the decline of -3.6% in 2020, backed by improved vehicle sales. According to the Japan Auto Manufacture Association (JAMA), new vehicle registrations during January-April 2021 increased by 4.2% as compared to same period in 2020.
The segment is expected to grow at a CAGR of 1.7% during 2020-2025. The launch of fully autonomous vehicles targeting local and global markets as well as expansion of electric car market is expected to drive growth of the motor insurance segment during the forecast period
FDI proposal for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt notification
”Applications for foreign direct investment in private banks having joint venture or subsidiary in insurance sector may be addressed to the Reserve Bank for consideration in consultation with the Insurance Regulatory and Development Authority of India (IRDAI), in order to ensure that the limit of foreign investment applicable for the insurance sector as specified in serial number F. 8.1 and F. 8.2 is not breached,” the notification said.