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COVID-19 caseload in India rises to 94.62 lakh

The total number of people who have recuperated from the disease surged to 88,89,585, pushing the national recovery rate to 93.94 per cent. The COVID-19 case fatality rate stands at 1.45 per cent.

The active COVID-19 caseload remained below five lakh for the 21th consecutive day. There are 4,35,603 active cases in the country which comprised 4.60 per cent of the total caseload, the data stated.

Fitch maintains a stable rating outlook for Chinese non-life insurance sector

“We expect the non-motor business to continue to report faster growth dynamics than the motor insurance class. Implementation of comprehensive motor insurance reform is likely to impair smaller insurers’ ability to boost profitability, while scale advantage will enable the large peers to sustain profitable underwriting results,” said Fitch in a rating note.

India recorded largest reductions in malaria cases in South-East Asia between 2000-2019: WHO

“Countries in South-East Asia made particularly strong progress, with reductions in cases and deaths of 73 per cent and 74 per cent, respectively. India contributed to the largest drop in cases region-wide from approximately 20 million to about 6 million, WHO Director-General Dr Tedros Adhanom Ghebreyesus said in the report’s forward.

Biden plan to end U.S. fossil fuel subsidies faces big challenges

Doing away with tax breaks on producers of fuels that emit greenhouse gases would fit neatly with Biden’s pro-climate agenda, which marks a reversal from Trump’s efforts to roll back climate regulations while boosting fossil fuel output.

It would help establish the United States as a global leader on climate, potentially helping convince other big emitters to axe fossil fuel subsidies.

Munich Re aims for a profit of €2.8bn in 2021

 “We expect to generate a profit of clearly above 1bn € this year. The pandemic has naturally had a considerable impact on our result. But the burdens arising from COVID-19 are financially manageable for Our business is clearly on track. Thanks to our strong balance sheet, we are in a very good position to exploit current market opportunities. In the coming year, we plan – despite anticipated further COVID‑19 losses – to meet the profit target of €2.8bn as envisaged prior to the pandemic,”said Christoph Jurecka,,CFO, Munich Re ,

Hyundai, Kia Motors agree to $210 million auto safety civil penalty in US

Kia agreed to create a new U.S. safety office headed by a chief safety officer and each automaker will retain an independent, third-party auditor who will directly report to NHTSA and will conduct a comprehensive review of the company’s safety practices. Hyundai’s consent order will last three years, while Kia’s is for two years, but both can be extended by one year.