Headquartered in Mumbai, the entity would now be incorporated as a...
Category:
Non-Life
Latest
India’s monsoon hits key western state, may falter next week, sources say
"The monsoon will take a pause for few days. Except for the west...
Canadian billionaire Prem Watsa to step down as Fairfax India chairman, replaced by son Benjamin
Benjamin Watsa, chairman, Fairfax India Holdings Corp The firm also...
Cyclone Yaas threat: Odisha alerts 14 districts, urges Navy, Coast Guard to remain vigilant
Odishas Chief Secretary S C Mohapatra, after a meeting with senior officials, said that the state administration is geared up to meet the eventuality if cyclone ‘Yaas’ has any impact on the state.
Though IMD is yet to inform about the possible path of the system, its speed and landfall location, the state has been preparing to meet the challenge beforehand, he said.
COVID-19 Pandemic intensifies risk in GCC countries:AM Best
Financing needs will remain acute, as more than USD 100 billion of debt will mature between 2021 and 2025. The region also faces long-term challenges. Despite long-standing efforts to diversify the GCC’s economies, progress has been relatively limited.
Peak Re’s net profit rises 150% to $87.1 million in 2020,combined ratio at 97.6%
On outlook for 2021, LI Tao,chairman, Peak Re said, We expect 2021 to see a rebound in economic growth that will extend into 2022. With the recovery already underway in Asia, we are looking to our Asia Pacific region to continue to outperform other regions and be the growth driver for the broader economy, as well as the insurance industry. This presents significant room for us to further grow in emerging markets where economies are still expanding.As businesses learn to adapt to another “new normal”, the effects of COVID-19 will continue to filter through and impact the future risk landscape.
Faster than the virus’: India’s financial hub gears up for a third COVID-19 wave
The city is spending tens of millions of dollars to build the paediatric units and is already procuring ventilators, monitors and other medical equipment, Chahal said. Apart from these units, the government is also in talks with hospitals to increase the number of paediatric beds and ICUs.
The paediatric task force, led by Dr Suhas Prabhu, plans to train about 660 paediatricians on how to handle children affected by COVID-19, and then broaden the training to more staff. The third wave might not end up affecting children greatly, but cities like Mumbai cannot afford to be caught off guard, Prabhu said.
Bringing treatment to doorsteps of patients will reduce burden on health system: PM Modi
“Creating micro containment zones and distributing medicines at the doorstep of the people is a good initiative. We have to follow the initiative comprehensively in villages,” the PM said. “Bringing doctors, labs and e-marketing companies together to provide a telemedicine facility named ‘Kashi Kavach’ is also a very innovative initiative,” he said.
India and Pfizer hit impasse over vaccine indemnity demand -sources
“The whole problem with Pfizer is the indemnity bond. Why should we sign it?” an Indian government source with direct knowledge of the matter told Reuters.
“If something happens, a patient dies, we will not be able to question them (Pfizer). If somebody challenges in a court of law, the central government will be responsible for everything, not the company,” the source added.
IMF says ending COVID-19 pandemic possible at cost of some $50 billion
The proposal, drafted by IMF chief economist Gita Gopinath and staff economist Ruchir Agarwal, builds on efforts already under way by the Access to COVID-19 Tools (ACT) Accelerator, United Nations, World Health Organization and other groups.
Implementing the plan would cost some $50 billion, with $35 billion to be paid for by grants from rich countries, private and multilateral donors, and the remaining $15 billion to be funded by national governments using low- or no-interest financing available from multilateral development banks.
White House partners Tinder parent in hopes users swipe right on vaccinations
President Joe Biden has set a goal to vaccinate 70% of U.S. adults with at least one COVID-19 shot by that date. read more
To meet the target as demand slows for vaccines in the country, the White House announced partnerships with ride-hailing services Uber and Lyft earlier this month.
Govt notifies new regulations for increasing FDI in insurance sector to 74 %
Nnot less than fifty per cent. of directors of such insurers will be independent directors, unless the chairperson of its board is an independent director, in which case at least one-third of its board shall comprise of independent directors.
In an Indian insurance company having foreign investment a majority of its directors, a majority of its Key Management Persons, and at least one among the chairperson of its board, its managing director and its chief executive officer, has to be resident Indian citizens, said the draft rules.
At Rs 5.18 tln in FY21, pvt sector investments lowest since FY05: Report
What is more worrying is that the gross fixed capital formation rate has been plunging continuously from 34.3 per cent in FY12 to 28.8 per cent in FY20 and is expected to go down further to 26.7 per cent in FY21, he warns. Again, among all the new investment projects announced until FY17, government-run companies dominated with a share of 58 per cent but even this has been coming down since then it plunged to 32 per cent in FY21 from 49 per cent in FY20, shows the report