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Here is a masonry blog layout with no sidebarGIC Re’s net at Rs 672 cr in Q3FY 2018
`With 60 per cent of the market share, we have maintained our leadership in the domestic market and would so in future despite competition arising out of presence of other major global reinsurers in India. We intend to bring down our combined ratio to below 100 per cent and wish to be the 10th largest reinsurer in the world at the end of the current fiscal,’’ said Vaidyan adding that setting up a syndicate at Lloyd’s of London, that will be starting its business in the new fiscal, will add to the international business of the GIC Re.
India ranks 44 out of 50 nations in global IP index
The US tops the list with 37.98 points, followed by United Kingdom (37.97) and Sweden (37.03). The annual report notes that India in July 2017 issued ‘Guidelines on the Examination of Computer-Related Inventions’ which significantly improved the patentability environment for technological innovations
Swiss Re in talks with SoftBank, may divest minority stake
SCOR’s P&C reinsurance renewal premiums grow by 3.7pc to Eur 3.1bn
Victor Peignet, CEO of SCOR Global P&C, commented: “SCOR has a strong position in the 2018 renewals, resulting from the Group’s multiple recent rating upgrades, a client-by-client approach, and the expansion of our capabilities as described in our ‘Vision in Action’ plan. We negotiated to reduce, cancel or decline business that did not meet our hurdles without damaging our franchise. As a result, our portfolio renewed in January is both larger and more profitable while still being well-diversified.”
World Bank raises a record USD1.36 bn cat bond
The bond, which mitigates balance sheet risk for the World Bank in Chile, Colombia, Mexico and Peru by offering protection against earthquake risk on a parametric basis, is the second largest catastrophe bond on record, and represents the largest sovereign risk transfer in the history of the insurance-linked securities sector
Six PSU insurers appointed as Insurance Ombudsmen
While four serving/retired officials of the public sector general insurance companies- K Sanath Kumar for Kochi, Sujoy Banerjee, retired director, Oriental Insurance Company for Hydeabad, Vasantha Krishna, director, NIC for Chennai, Milind Kharat, retired CMD of United India Insurance for Maharashtra and Goa and two retired officials of Life Insurance Corporation(LIC)- RG Shinde for Ahmedabad and Kirti Saha for Kolkata- have been selected from the insurance industry another four, belonging to judiciary and bureaucracy, have been picked up with a three tenure to fill up 10 vacant posts.
Merger of three PSU General Insurers:MoF to meet chiefs of PSU general insurerance Cos on Feb 16
Centre to link driving licence with Aadhaar: Supreme Court told
“On the issue of fake licences, joint secretary, MoRTH informed that NIC (national informatics centre) is now preparing ‘Sarthi-4’ under which all the licences would be linked to Aadhaar.,This software will cover all the states on real time basis and it will not be possible for anyone to get duplicate or fake licence anywhere in the country,”
January windstorms expected to cost European insurers more than $2bn:Aon
Private sector is committed to engaging with the Government on NHPC
“Definitely, the private sector will need to play a key role in ensuring the delivery of quality care, she added. The private sector is committed to engaging with the Government, in the true spirit of Public-Private-Partnership (PPP) and develop innovative models of collaboration to ensure that the beneficiaries get the care they deserve,” Sunita Reddy
Competitive climate broadly remains unchanged across Asia-Pacific markets:Hannover Re
Premium growth was particularly marked in Asia and the United Kingdom. Attractive opportunities to expand the portfolio also opened up in North America, the Caribbean and Eastern Europe as well as in the areas of financial solutions and cyber risks. Despite the pleasing development in property and casualty reinsurance, the profitability of the treaties still takes precedence over pure premium growth.
RBI keeps repo rate at 6%, flags inflation risks
Cat hit Markets see price rise at 1 January renewals:Munich Re
“Other markets and branches were also freed from the pricing pressures of previous years, and price development was stable or even slightly positive. Despite the high losses from natural catastrophes in 2017, the availability of reinsurance capital remained high during the January renewals, so price increases were moderate overall, due also to the slight rise in market interest rates,’’ said the second largest global reinsurer while announcing its annual results on Tuesday.
Stock market plunge washes away nearly Rs 5 trillion investor wealth
The BSE Sensex cracked below the 34,000-mark by plunging about 1,275 points or 3.6 per cent in opening trade today due to across-the-board losses after investor sentiment was hit by a sell-off in world markets.
Following the downfall, the total market capitalisation of BSE listed companies eroded by Rs 4.95 trillion to Rs 14.3 trillion.
Government admits to Aadhaar’s misuse for committing banking frauds
Unevenness In Taxes Paid By Salaried Class, Business People: Hasmukh Adhia
UK to double health surcharge for foreign visitors, students
FPIs infuse over Rs 22,000 crore in January on better earnings expectations
According to the depositories data, Foreign Portfolio Investors (FPIs) infused a net amount of Rs 13,781 crore in equities and Rs 8,473 crore in debt in January – translating into net inflows of Rs 22,254 crore ($ 3.5 billion).
This comes following an outflow of over Rs 3,500 crore by FPIs from the capital markets (equity and debt) in December, depositories data showed.