The company's insurance broking arm has also partnered with 24...
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Insurtech BimaKavach gets insurance broking license, plans fund raising
In 2022, BimaKavach raised $2 million in a seed round led by...
Cat bond market is defying the global selloff with record returns
Big reinsurers like Swiss Re and Munich Re, as well as some...
India’s slowing economy to weigh on re/insurers, says Moody’s
“India’s GDP growth weakened to its slowest rate in five years in the fiscal year ended March 2019, and the resultant financial pressure on rural households amid weaker job creation is in turn also weighing on premium growth,” says Benjamin Serra, a Moody’s Senior Vice President.
Insurers want higher FDI and more tax incentives in the Budget 2020
“Collectively as an industry, we do see a lack of parity in the tax treatment of pension products of life insurance companies and pension products under NPS. Both the products have similar objective of building long term savings for meeting retirement goals, hence, this disparity should be addressed by the government in the Union Budget 2020, agreed Tarun Chugh, MD & CEO, Bajaj Allianz Life
Boeing 737 MAX: Company finds ‘new minor’ software glitch in grounded aircraft
Boeing is rewriting software that played a role in crashes five months apart in Indonesia and Ethiopia that killed 346 people and led regulators to ground the plane worldwide in March 2019.
More suicides among unemployed, self-employed than farmers in 2018: Report
“Government servants accounted for 1.3 per cent (1,707) of the total suicide victims as compared to 6.1 per cent (8,246) of total victims from private sector enterprises. Employees from public sector undertakings formed 1.5 per cent (2,022) of the total suicide victims, whereas students and un-employed victims accounted for 7.6 per cent (10,159) and 9.6 per cent (12,936) of total suicides respectively,” it said.
Boards of UII & OIC approve merger proposals, NIC to follow suit on Monday
Like in the PSU banking industry, where three banks have already been merged and 10 more are already in the process to be merged into four, the merger resolutions of the boards of the three companies will now facilitate approval s by the Union Cabinet.However there is no clarity on the raodmap for the merger.
ICICI Lombard General Insurance Q3 net at Rs 294 cr, up 23%
The company’s combined ratio stood at 98.7 percent in Q3FY20 compared to 95.9 percent in Q3 FY19.The insurer’s underwriting losses for Q3 stood at Rs 22.04 crore compared to loss of Rs 28.59 crore loss in the year-ago period
Cyber and climate change rank as top risks for India Inc:Allianz
Climate change rises to its highest-ever position, jumping six spots to (#2 with 30%) as global warming has become an increasing concern for companies and nations. Business Interruption remains at #3 (30%).
WEF sounds alarms about Climate Change risks
The WEF report also called on policy makers and firms to match targets for protecting the climate with ones that boost economies, and for companies to adjust to science-based targets now in order to avoid massive future losses.
Zurich sees hardening rates, improving terms – first time since 2002
Figures from Allianz SE, AXA SA and Zurich Insurance suggest premium rate increases overall accelerated in the first half of 2019, according to Bloomberg Intelligence.
Register drones by January 31 or face action: Aviation ministry
In the notice issued on Monday, the ministry said, “On successful submission of voluntary disclosure of possessing drone, a Drone Acknowledgement Number (DAN) and an Ownership Acknowledgement Number (OAN) will be issued online which will help in validation of operation of drones in India.”