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Automobile retail sales rise 11% annually in 2023: FADA
The overall domestic automobile retail sales stood at 2,38,67,990...
Mukesh Ambani owns same Boeing jet that was in Alaska Air accident
Reliance has several other jets in its corporate fleet, including...
Blaze breaks out again on supertanker off Sri Lanka, cargo area intact
The New Diamond, a very large crude carrier (VLCC) chartered by Indian Oil Corp (IOC), was fully loaded with the equivalent of about 2 million barrels of oil, Refinitiv data showed.
Photographs taken by Sri Lanka’s air force showed extensive damage to the tanker’s funnel, and thick black smoke and flames coming from the bridge, that sits just behind the cargo area.
Everyone could be a carrier: Covering coronavirus pandemic in rural India
Infections in India now total over 3.5 million, rising from two million in just over three weeks – the third highest number of coronavirus infections in the world. The disease is rampant in rural India, where people often have to rely on the most basic health facilities.
India leads global rise in new weekly COVID-19 cases,while deaths down: WHO
Overall global new deaths in the past seven days fell by 3% compared to the previous week, the WHO reported, adding that overall new infections around the world rose by 1.8 million.
The respiratory disease is also spreading in the Americas, which continues to account for more than half of reported cases and deaths worldwide, although there have been slight decreases in some areas, WHO said in its latest update.
Peru, Mexico, Colombia and Argentina have seen “increasing trends”, it said.
Global reinsurers maintain equilibrium through COVID-19 turbulence:AM Best
The global reinsurance composite has produced a five-year (2015-2019) average combined ratio of 99.6% and a return on equity of 5.7%. The report notes, however, that 3-4 percentage points of that combined ratio performance is attributable to favorable loss reserve development. This benefit continues to diminish, and without prompt, corrective action, will create a drag on earnings.
Companies’ individual abilities to take advantage of the hardening market conditions are likely to be influenced by a flight to quality. After three years of significant industry losses, those companies with a solid financial strength, robust reputation and market position, as well as stable, consistent and transparent results, should be best-positioned to optimize their underwriting risk portfolio and continue to attract and deploy capital. In the medium term,
Swiss Re Ltd. retained the top spot as the world’s largest reinsurer, as measured by reinsurance gross premium written, in AM Best’s highly regarded annual ranking of the Top 50 Global Reinsurance Groups. Munich Reinsurance Company again was No. 2 in this latest ranking as the top 10 remained largely stable from last year.
Amazon bets on Insurance and Gold to make India centre of fintech push
It began offering auto insurance in July and gold investment products in August – both a first for Amazon
COVID-19 tally in India climbs to 36,91, 166
The COVID-19 case fatality rate has further declined to 1.77 per cent.
There are 7,85,996 active cases of coronavirus infection in the country which comprises 21.29 per cent of the total caseload, the data stated.
Australia’s QBE Insurance says CEO to exit after investigation
The insurer said it would begin a board-sponsored and externally supported review into its culture and look into creation of additional outlets for employees to safely raise concerns.
New mobility revolution:Japanese tech company test ‘Flying Cars’
The company, SkyDrive, said in a news release on Friday that it had completed a flight test using “the world’s first manned testing machine,” its SD-03 model, an electrical vertical takeoff and landing (eVTOL) vehicle. The flight time was four minutes, the company said.
The aircraft has one seat and operates with eight motors and two propellers on each corner. It lifted about 3 meters (or about 10 feet) into the air and was operated by a pilot, the company said.
Mutated coronavirus strain found in Indonesia as cases jump: Report
Syahrizal Syarif, an epidemiologist with the University of Indonesia, warned Indonesians must remain vigilant, as his modelling suggests the country may see its caseload rise to 500,000 by the end of the year.
“The situation is serious …. Local transmission currently is out of control,” Syarif said, adding that the number of infections found daily could have been much higher if laboratories were able to process more specimens in a day.
Oriental Insurance incurs losses of Rs 1498 cr in 2019-20, outlines strategies to be profitable
“Our immediate focus will be –enhanced customer service, growth in profitable lines, claim management, cost control, use of technology and digital initiative in an accelerated level,” said newly appointed CMD SN Rajeswari.