Neha Parikh, vice president and sector head – Financial Sector...
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Cyclone Remal wreaks havoc in West Bengal, Bangladesh after making landfall; 1 killed
Arup Biswas, the minister for power in West Bengal government, said...
10.46 lakh motor accident claims worth Rs 80,455 crore pending nationwide: RTI
In the wake of inordinate delays in adjudication of motor accident...
Latest Covid-19 wave deadlier in Brazil than India: No one knows why
It’s too early to say if India can continue to avoid the more lethal fate of Brazil. While some parts of the country have imposed targeted lockdowns, elections are being held in five states — seeing thousands of voters pack campaign rallies — along with a month long Hindu pilgrimage that brings throngs to the banks of Ganges river.
Govt notifies draft rules for hiking FDI to 74 % in insurance sector
According to the draft rules, in an Indian insurance company having foreign investment exceeding 49 per cent not less than fifty per cent. of the net profit for the financial year have to be retained in general reserve, if the insurer’s solvency margin is less than 1.2 times the control level of solvency for a financial year for which dividend is paid on equity shares.
Not 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.
U.S. P/C insurers perform well in 2020 despite Pandemic, higher Cat losses:AM Best
According to the report, P/C industry revenue declined slightly to $560.7 billion, driven by a significant drop of 18.8% in net investment income. Expenses grew by 4.1% in 2020, far exceeding a modest increase in premium revenue; the catastrophe losses and a sizable increase in policyholder dividends also more than countered the increase in premium revenue.
3rd vax dose likely needed within 12 months: Pfizer CEO
“A likely scenario is that there will be likely a need for a third dose, somewhere between six and 12 months and then from there, there will be an annual re-vaccination, but all of that needs to be confirmed. And again, the variants will play a key role,” Pfizer Chief Executive Officer Albert Bourla said.
Tokyo Olympics might yet be cancelled due to COVID-19 – Japanese official
“If it seems impossible to do it any more, then we have to stop, decisively,” Toshihiro Nikai, secretary-general of the Liberal Democratic Party, said in comments to broadcaster TBS.
Covid 19 Pandemic: 9 in 10 Singaporeans still struggling with their mental health, men and younger adults most worried
Wong Sze Keed, chief executive officer of AIA Singapore, says, “While our nation is heading for a post-pandemic recovery, mentally, we are still trying to navigate our way out of COVID-19 uncertainities. It is not enough to only take care of our physical health. This conviction drives our holistic approach to protect the many aspects of our customers’ wellbeing – such as financial, physical, and mental health – to enable everyone to truly lead healthier, longer, better lives.”
Coronavirus curbs disrupt supply chains, stoke economy worries
Small businesses are also worried that as workers may return to their villages as cases rise and job prospects worsen.In Meerut, an industrial hub about 100 km from New Delhi, Anurag Agarwal, regional head of the Indian Industries Association, said the prices of raw materials for sports goods and other products had risen as supplies have been delayed.
“Night shifts have been cancelled and unforeseen rise in prices of key raw materials have contributed to our woes,” said Agarwal, who represents about 10,000 business units.
SCOR’s Apr 1 Indian renewal kitty swells by 21% to EUR 178 million
SCOR grew its gross premiums up for renewal by 14.3%2 at constant exchange rates to EUR 600 million, with a 4.3% overall increase in pricing.
The bulk of the portfolio renewed on April 1 (64%) is in the Asia-Pacific region, of which Japan and India are the most significant markets (each accounting for approximately 28-29% of total premiums up for renewal):
India’s new coronavirus cases hit record; Mumbai prepares for lockdown
In the western state of Gujurat, a Reuters witness saw a long queue of ambulances waiting outside Ahmedabad Civil Hospital on Wednesday, with some patients being treated there while they waited.A hospital source, who declined to be named as he is not authorised to speak publicly, said a lot of private hospitals were short of oxygen and were sending their patients to the public hospital.
Chhattisgarh state – one of several hinterland regions struggling with a surge in cases – set up a temporary 370-bed hospital in an indoor stadium.
New global compact aims to drive down diabetes deaths, boost insulin access
“The number of people with diabetes has quadrupled in the last 40 years. It is the only major noncommunicable disease for which the risk of dying early is going up, rather than down. And a high proportion of people who are severely ill in hospital with COVID-19 have diabetes.”
More than 420 million people worldwide live with diabetes, a group of chronic diseases characterized by elevated blood sugar, which can cause damage to the heart, blood vessels, eyes, kidneys and nerves.