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About 70 pc of premature cancer deaths in 2020 preventable, 30 pc treatable: Lancet study
Tobacco, alcohol, obesity, and infections accounted for roughly 1.3...
Ship insurance facility set up for Ukraine grain exports, says broker Miller
London-headquartered Miller said it had teamed up with British...
Indonesia report on 737 MAX crash faults Boeing design, says Lion Air made mistakes
The manufacturer is facing nearly 100 lawsuits over the Ethiopian Airlines crash on March 10 which killed all 157 people on board the flight from Addis Ababa to Nairobi.
Aviation security regulator to soon issue norms on countering rogue drones
New Delhi: Aviation security regulator BCAS will issue anti-drone regulations within a week to counter any rogue drones in the country, a senior official said on Tuesday. Deputy Director General in the Bureau of Civil Aviation Security (BCAS) Maheshwar...
Few Hong Kong firms have riot insurance so they’ll be paying for protest damages
Hong Kong is a lucrative market for global insurers including American International Group Inc., AXA SA and Zurich Insurance Group AG, with the value of premiums as a percentage of gross domestic product at 18.16%, second only to Taiwan in the Asia-Pacific region.
SBI General PAT at Rs 278 crs, up 9% in H1 FY 2019-20
The general insurance arm of banking major State Bank of India (SBI) reported an underwriting profit of Rs 37 crores in H1 19-20.
“Our focus on our claims promise has remained undeterred we have consistently delivered on it with Rs 1196.96 cr settled in H1 FY 19-20. We have settled 99 per cent of claims during some of the recent natural catastrophes”, said Pushan Mahapatra, MD & CEO, SBI General Insurance.
Brexit may spur more deals in legacy general insurance policies
There are nearly $800 billion in closed books of non-life insurance globally, including $300 billion in Europe, according to PwC. Around $9 billion changed hands across 34 publicly announced deals globally in 2018, the consultants said in its first annual deals report
Typhoons Faxai, Hagibis, not likely to materially impact Japanese non-life insurers’ capitalisation
AM Best believes that the losses from Typhoon Hagibis will be largely driven by flood impact, rather than wind damage. Given the record breaking level of rainfall in some areas, as well as the relatively high population density surrounding Greater Tokyo, AM Best expects that the three mega-insurance groups’ gross losses from Typhoon Hagibis will be as significant as that from Typhoon Faxai, albeit possibly less severe than Typhoon Jebi in 2018.
ICICI General Insurance net profit at Rs 308 cr, up 5% in Q2 2019-20
The company’s combined ratio stood at 101.5 per cent in H1 FY2020 compared to 100.1 per cent in H1 FY2019 primarily on account of long-term motor policies and losses from catastrophic events in various states (estimated to be Rs 61 crore).
IAG exits SBI General Insurance, sells 26% to Premji and Warburg Pincus for $432.38 ml
According to the new agreements Premji Invest (Premji) and Warburg Pincus Group to acquire to acquire a 16.01 per cent and 9.99 per cent respectively in the SBI General Insurance.
Brexit insolvency fears boost demand for trade credit insurance
“The demand for credit insurance is incredibly high,” said Graham Bristow, managing director in credit solutions for insurance broker Aon, one of the largest firms arranging such deals. “There is no doubt Brexit is one theme, people are nervous.”
Aviation regulator DGCA gives its approval to 5 firms to manufacture drones
Recently, the DGCA gave its nod to the Board of Control for Cricket in India (BCCI) to live telecast feed from inside stadiums obtained via drones.With the advent of drones, a great need for anti-drone technology is also being felt, given the recent terrorist attacks overseas orchestrated via UAS, while a few domestic companies are said to be ready to provide a solution for this future threat as well.