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New National Health Insurance will not stop private healthcare in South Africa: President Ramaphosa
Cyril Ramaphosa, President,South Africa “The NHI will be a lifeline...
Airbus Helicopters and SIDBI sign an MoU for helicopter financing in India
Under the MoU, both Airbus Helicopters and SIDBI will identify...
India’s insurers face potential profitability and solvency margin pressures as health segment grows:AM BEST
The health segment has posted some of the weakest underwriting results in India’s non-life industry over the past decade; the 10-year average loss ratio of the health insurance business is approximately 98% (FY2010-FY2020). Although this has abated in recent years, the loss ratio remains unviable at 88% in FY2020.
Another major cause of non-life companies’ poor underwriting results is the prevalence of group health insurance with limited rate adjustment capacity.
AM Best places credit ratings of Singapore Re under review with developing implications
This Credit Rating (rating) action follows an announcement made on the Singapore Exchange (SGX) on 21 April 2021 that Fairfax Asia Limited’s (Fairfax Asia) recent voluntary cash offer to purchase all issued and paid-up ordinary shares in the capital of Singapore Re, other than those already held by Fairfax Asia and other Fairfax Financial Holdings Limited (Fairfax group) companies, has been declared unconditional.
Suspension of scheduled international passenger flights extended till May 31 due to Covid-19: DGCA
Scheduled international passenger services have been suspended in India since March 23, 2020, due to the coronavirus pandemic.
But special international flights have been operating under the Vande Bharat Mission since May and under bilateral “air bubble” arrangements with selected countries since July.
India has formed air bubble pacts with around 27 countries including Kenya, Bhutan and France.
Take steps to reduce cost of COVID-19 treatment: Kerala HC to govt
Expressing concern over exorbitant amounts charged by the private hospitals, the court directed the government to discuss the matter with the managements of the hospitals and inform its decision to the court by next Tuesday.
Counsel for the government informed the court that it would consider further reducing the rates.
World of work needs resilient occupational safety and health systems: ILO
“There could be no clearer demonstration of the importance of a strong, resilient, occupational safety and health environment. Recovery and prevention will require better national policies, institutional and regulatory frameworks, properly integrated into crisis response frameworks,” said ILO Director-General, Guy Ryder.
New heads appointed for Kotak life and Kotak general insurance
Effective 1st May 2021, Kotak Mahindra Life Insurance Company Limited (Kotak Life) will be headed by Mahesh Balasubramanian as managing director (MD) while Kotak General Insurance Company (Kotak GI) will be led by Suresh Agarwal as MD & CEO.
Biden restricts travel to US from India
A variant strain of the virus, known as B.1.617, is also circulating in India, along with other variant strains, including B.1.1.7, first detected in the United Kingdom, and B.1.351, first detected in the Republic of South Africa.
“The CDC advises, based on work by public health and scientific experts, that these variants have characteristics of concern, which may make them more easily transmitted and have the potential for reduced protection afforded by some vaccines,” said the proclamation.
SBI General Insurance net profit rises 32 % to Rs544 cr in FY 20-21,Combined ratio at 99.8 %
“FY21 demanded special focus on the Health and SME lines, and we managed to maintain a balanced growth. We are also scaling up our product bouquet and adopting digital disruptions to offer instant insurance solutions even at distributor part, for the ease of customers,” said PC Kandpal, MD and CEO, SBI General Insurance
1 in 4 global Covid-19 deaths occurred in Americas: Pan American Health Organization
“One in four Covid deaths reported worldwide last week took place right here, in the Americas. Nearly every country in Central America is reporting a rise in infections,” said Pan American Health Organization (PAHO) Director Carissa Etienne..
For the first time, Canada’s infection rates have surpassed the US Covid-19 infection rates, the PAHO director informed.
The surge of infections is being led by new Covid-19 variants, which slow vaccination rollouts, due to lack of vaccine availability, are also providing major setbacks for a number of countries in the Americas.
Men, elderly with diabetes at higher risk of death from Covid
With each five-year increase in age, the relative risk for Covid-19 related death in people living with diabetes increased by 43 percent, said the team of researchers from German Diabetes Centre, Leibniz Centre for Diabetes Research at Heinrich Heine University Dusseldorf, Germany