FSIB has shortlisted a few of GMs who were promoted in FY2022-23...
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EV sales jumps 49% to 1.52 million units in 2023: Fada
The EV industry had recorded a total sales of 10,25,063 units in...
Record thunderstorm losses and deadly earthquakes in 2023, says Munich Re
Thomas Blunck, member of the Board of Management, Munich Re...
India’s coronavirus tally goes past 3.9 mn; recoveries crosses 3 mn-mark
The COVID-19case fatality rate has further declined to 1.74 per cent in the country.
There are 8,31,124 active coronavirus cases in the country, which account for 21.11 per cent of the total caseload, the data stated.
Select intl passengers can avail COVID-19 tests on arrival at entry airports
If the RT-PCR test result is negative, the international passenger will be allowed to catch his or her connecting domestic flight and he or she will not need to undergo any institutional quarantine at the destination city, the ministry’s order said.
The test result will come in a maximum of seven hours. Till the results come, the passenger will have to remain in the waiting lounge of the entry airport, the order noted.
Total expected onshore U.S. insured losses from Hurricane Laura around $9bn – $13bn:RMS
RMS estimates an additional US$1.0bn to US$2.0 billion of insured losses to offshore platforms, rigs, and pipelines in the Gulf of Mexico, due to wind and wave-driven damages. Offshore losses were estimated using the September 2020 vintage of the RMS Offshore Platform Industry Exposure Database
Swiss Re retains top spot in AM Best’s top 50 ranking of global reinsurers
The top 10 accounted for 69% of the top 50’s total GPW. In recent years, this percentage has consistently been around 70%, which reinforces AM Best’s sentiment that the industry’s largest reinsurers continue to house disproportionately sizable amounts of risk, despite cedants’ efforts to diversify their reinsurance panels and spread out their counterparty risk.
The top 50 reinsurance groups reported an average combined ratio of 102.4 in 2019, a modest deterioration from the 2018 combined ratio of 100.9. Losses were driven primarily by social inflation in U.S. casualty business and typhoons in Asia, as well as loss creep from 2018 storms.
India’s GIC Re,with a gross premium of $6.86 billion,is the12th largest company(11th in 2018 list) in the AM Best list of top 50 global reinsurers
Auto industry not in position to make investments for new norms: SIAM
SIAM President Rajan Wadhera noted that demand stimulus for the industry is a must in order to achieve targets listed in AMP 2026.
AMP 2026 is the collective vision of the government of India and the automotive industry on where the various segments of the automotive and auto component industry need to be by 2026 in terms of size and contribution to the overall Indian economy.
The plan envisages taking the auto industry’s gross domestic product (GDP) contribution to 12 per cent from current 7 per cent as also generating 6.5 crore additional jobs over the 3.7 crore jobs that are already there.
More than 40 crew missing after cattle ship capsizes In storm off Japan
The crew of 43 was made up of 39 people from the Philippines, two from New Zealand, and two from Australia, the coastguard said.
According to Edvarodo, the ship lost an engine before it was hit by a wave and capsized, a coastguard spokeswoman said
US court rules cryptocurrency fundraiser to pay investors $25M to settle class action
The settlement, initially proposed in U.S. District Court in San Francisco in March, received final approval by a federal judge on Friday
India’s COVID-19 tally crosses 38-lakh mark with record single-day jump of 83,883 cases
The national COVID-19 recovery rate has risen to 77.09 per cent and the case fatality rate due to the infection has further declined to 1.75 per cent.
There are 8,15,538 active cases of coronavirus infection in the country which comprise 21.16 per cent of the total caseload, the data stated.
Revised Weinstein settlement draws opposition from accusers
The $35.2 million proposal filed on Tuesday in the U.S. Bankruptcy Court in Delaware was financed by insurers and includes $17 million to settle sexual misconduct claims in various courts as well as a lawsuit by New York’s attorney general.
Insurers must do more to support COVID-19-related mental health issues:GlobalData
The Health and Safety Executive (HSE) found that 12.8 million UK working days were lost in 2019 because of work-related stress, anxiety and depression. While the HSE has continued to raise the issue of remote-working staff’s mental health during the pandemic, insurers are penalizing policyholders for flagging any related issues. Consumer campaign group Fairer Finance has found that insurers such as Budget, Virgin Money, Beagle Street and Canada Life are actually increasing the cost of premiums for consumers that declare minor stress issues.