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Here is a masonry blog layout with no sidebarIrdai expresses concern over high hospital tariffs plans to standardise charges
Coronavirus epidemic could infect two-thirds of World’s population: WHO Scientist
SEBI constitutes municipal bonds development committee
Coronavirus outbreak in China disrupting global tech sector: S&P
“Our base case is that the virus will be contained globally in March 2020 (no new transmissions in April), allowing travel and other restrictions to be unwound by the middle of the second quarter,” an Asia economist of S&P Global Ratings said. S&P said it has not taken any rating actions related to the outbreak.
Debasish Panda appointed financial services secretary
The Appointments Committee of the Cabinet (ACC) has approved his appointment as secretary, department of financial services, in place of Rajiv Kumar, who superannuates this month-end, a personnel ministry order said.
Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, is at present special secretary, department of financial services.
SCOR acquires a majority stake in Brazilian AgroBrasil,strengthens expertise in agriculture
Laurent Rousseau, Deputy Chief Executive Officer of SCOR Global P&C, and CEO of the Specialty Insurance business, comments: “Through this acquisition, SCOR is further building its Specialty Insurance franchise and MGA platform. SCOR will also strengthen its expertise in agriculture insurance, a highly complex specialty: being at the forefront of technical risk-knowledge and fostering product innovation for the benefit of our clients around the world is an integral part of our DNA.”
S&P retains India’s rating at ‘BBB-‘ with stable outlook
Insurers rush to exclude Coronavirus epidemic from event-cancellation protection
FPIs turn net buyers; put in $6.3 billion in December quarter
Coronavirus leads companies with supply chain disruptions to invoke ‘Force Majeure’
-Force majeure refers to unexpected external circumstances that prevent a party to a contract from meeting their obligations.
-The underlying event must be unforeseeable and not the result of actions undertaken by the party invoking force majeure. Natural disasters, strikes, and terrorist attacks can all be force majeure events.
-Declaring force majeure may allow a party to a contract to avoid liability for nonperformance.
Coronvirus led to cancellation of telecoms meeting, but insurance cover is excluded
Etiqa Insurance Singapore protects customers with Financial Assistance Benefit amid COVID-19 Outbreak
Staying committed to their mission to make the world a better place, the Etiqa Insurance Singapore will provide hospitalisation benefits of S$100 daily (up to 10 days) for patients in stable condition and S$200 daily (up to 5 days) for those in the Intensive Care Unit (ICU), including a lump sum payment of S$50,000, in the event of death, as a result of the COVID-19 viral infection.
SBI Gen Insurance records a PBT at Rs 387 cr, u/w profit of Rs 14 cr in Apr- Dec
Rikhil Shah, CFO, SBI General Insurance Company said, “SBI General has maintained a steady growth in FY 19 – 20, we’ve managed a growth of almost 46% as compared to an industry growth of 15% for 9M FY19-20. Despite being one of the youngest players in the sector, we have seen an impressive progress since commencing operations. Growth has been evident across all lines of businesses. New tie-ups & improved business from existing tie-ups in motor, higher branch activations/better penetrations across SBI network has also helped in contributing to the growth.”
IAI to host 3-day 21st Global Conference of Actuaries in Mumbai from Feb 17
“The Global Conference of Actuaries provides a platform where the actuaries and non-actuaries from all across the globe gather and share their views and opinions on matters that impact the financial services Industry, particularly in the area of Insurance,pensions, risk management, data science and analytics. With such an event, we create opportunities for actuaries all over the globe to learn/contribute papers/presentations on the financial aspects that affect the financial industry as a whole. This year is special as we complete 75 years of the Indian Actuarial Profession and celebrate platinum jubilee year,” said Sunil Sharma, President Institute of Actuaries of India.
Renewable insurance plays an important role in Asia’s energy transition:Willis Towers Watson
Prolonged slide in financial health of Indian firms comes to end
Care Ratings Debt Quality Index, which tracks credit metrics of 1,604 rated firms on a scale of 100, inched up 0.04 points to 88.02 in January, after eight straight months of decline. The prolonged downswing in credit ratings, triggered by liquidity stress in the shadow banking sector, had worsened earlier as companies struggled to raise funds and sell assets to pare debt, according to the rating firm
Cabinet approves Rs 2,500 cr of capital infusion in 3 PSU gen insurance cos
I-T Dept to share taxpayers’ PAN, other data with SEBI to help in stock market-related probes
Name and PANs of partners in partnership firm and LLPs, KYC information contained in IT Return like email id, mobile number, address, IP address appearing on the acknowledgement of the filed IT Return, financial particulars of the business as filed in ITR and tax audit report, including income from trading in securities, bank account details.