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SBI General Insurance records a net profit of Rs 359 crore in 3rd Qtr

by | Jan 30, 2018 |

 “Our growth continues to be along the expected lines. Our profit stood at Rs. 359 crs YTD ‘Dec 17 v/s Rs. 25 cr YTD Dec ’16. This comprises a one-time reinsurance arrangement of Rs. 170 cr. Even if we were to exclude that, we have still secured a sustainable profit of Rs. 132 cr. Furthermore, we saw an underwriting profit of Rs 69 crores in Q3 FY17-18,Cost optimization and initiatives towards cost control has led to a reduction in operating expenses for SBIG,’’ said Pushan Mahapatra, MD & CEO, SBI General Insurance.

Indian parents still keen to have more and more male children

by | Jan 29, 2018 |

Among the startling facts revealed by the Survey is that the sex ratio of last birth (females per 100 births) has come down by 40 basis points from 39.4 per cent in 2005-06 to 39 per cent in 2015-16. The Survey suggests that women making their own income has seen no change in 10 years between 2005-06 and 20015-16. Only 13 per cent more women are getting educated – change from 59.4 per cent 10 years ago to 72.5 per cent now

India needs $ 4.5 trillion by 2040 to develop Infra: Eco Survey

by | Jan 29, 2018 |

Listing Bharatmala and Sagarmala as important initiatives for highways and shipping sectors respectively, the Survey said under Sagarmala ports master plans have been finalised under which 131 port capacity expansion projects with project cost of Rs 85,346 crore have been identified for implementation over next 20 years. 

UIDAI says Aadhaar an identification, not profiling tool

by | Jan 28, 2018 | ,

UIDAI recently announced a new concept of “Virtual ID which Aadhaar-card holder can generate from its website and give for various purposes, including SIM verification, instead of sharing the actual 12-digit biometric ID. The Virtual ID, a random 16-digit number, will give the users the option of not sharing their Aadhaar number at the time of authentication.

New India Assurance gets A- rating from US-based agency

by | Jan 27, 2018 |

“The A rating  by A M Best an international agency is a reiteration of the financial strength of New India Assurance and its dominance in the Indian Market. No other indian direct insurer has this rating and we are proud of this, We are expecting a rating upgrade during 2018.” said G Srinivasan, CMD, New India Assurance

India seeing huge inflows into financial savings: Chanda Kochhar

by | Jan 25, 2018 |

“Post demonetisation, there has been a net inflow of Rs 19 lakh crore of financial savings into bank deposits, mutual funds and life insurance put together. “If we look at the 18 month period from April 2016 onwards, the net inflow into financial savings in the country has been about Rs 28 lakh crore which is equivalent to the GDP of an entire country like Thailand,” she said. 

$344 bn global economic losses in 2017, a record nat cat year: Aon report

by | Jan 24, 2018 | , , , , ,

Insured losses to the private sector and government-sponsored programs were among the costliest ever incurred, reachingUSD134 billion in 2017 – just behind the record USD137 billion in 2011. This is 139 percent higher than last year’s USD56 billion, primarily due to high insurance penetration in the US