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National Health Authority, IRDAI recommend measures to check frauds, data standardization

Sixty per cent of the Indian population today is covered under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and privately paid health insurance making it a great opportunity for IRDAI and NHA to jointly work on key areas for the strengthening of health insurance eco-system in the country, making it more efficient and effective, an NHA official said.

Climate change tops list of world’s ‘extreme risks’

Tim Hodgson, Head of the Thinking Ahead Group, said: “Our extreme risks ranking has seen the emergence of a general trend with financial risks falling down the rankings and non-financial extreme risks growing in significance. Global temperature change becomes the highest ranked risk due to our assessment of higher likelihood coupled with significant impact – in the extreme this would mean mass extinction. 

IRDAI penalises Bagic and Go Digit for violating its norms 

In one of the findings, the IRDAI has said that the number of offices (financial year wise) indicates that the actual number of offices as per the records of Bagic varies with the number of offices as per the records of the IRDAI and public disclosures.  There is noticeable increase in the number of offices and staff after MISP guidelines have come into effect. 

Anup Rau to head Future Generali India Insurance

Rob Leonardi, Regional Officer for Generali Asia said, “We view India as an important and fast-growing market for our business in Asia. Anup’s vast experience and understanding of retail, combined with his expertise in strategic digital initiatives within the industry, will be a huge asset for Future Generali India.”

Total reinsurance capital at $559 bn in H1 2019, up 8% driven by strong investment markets: Willis Re

The largest component of this figure is the capital of the 36 reinsurance companies tracked in the Willis Reinsurance Index, which was up 11 per cent to USD 440 billion, principally due to falling bond yields and rising equity markets.  The strong investment appreciation was a reversal of the trend noted in the year-end 2018 Reinsurance Market Report. Fresh capital backing the Convex start-up also contributed to the H1 2019 capital growth.