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Tax refund boosts ICICI Lombard Q2 net by 32 pc to Rs 591 cr
The insurer’s combined ratio, a key matrix in any general insurer's profitability stood at 105.1 per cent in Q2 FY2023 as against 105.3 per cent in Q2 FY2022 The company’s underwriting losses have gone up by 51 per cent to Rs 152 crore in the reporting period...
India’s festival gold sales to shine less brightly this year, says WGC
Indians bought a record 344 tons of gold over the period, and sales are unlikely to match that this year, PR Somasundaram, regional chief executive officer at the London-based organization, told Bloomberg Television in an interview on Tuesday India’s gold sales during...
Centre seeks waiver in key norm for IDBI Bank stake sale
Earlier this month, India invited bids for a 60.72% stake in IDBI Bank -- which is 45.48% owned by the government and 49.24% by state-owned Life Insurance Corp (LIC) -- after dragging its feet for years New Delhi; The Indian government is in talks with the market...
Union Minister Jitendra Singh launches integrated portal for pensioners
The portal – www.ipension.nic.in – will act as a one-stop solution for all the pensioners' needs. New Delhi: Union Minister Jitendar Singh on Tuesday launched an integrated portal aimed at ensuring “ease of living” for the central government pensioners. The portal –...
Helicopter carrying pilgrims to Kedarnath crashes; 7 dead
Fog and poor visibility are said to be the reason for the crash Dehradun: A helicopter ferrying pilgrims from Kedarnath temple to Guptkashi here crashed into a hill due to poor visibility on Tuesday, killing all six pilgrims and the pilot on the spot. The chopper --...
Maharasthra Covid cases up; new Omicron subvariants BQ.1, XBB reported from state
On October 17, India detected its first case of Omicron's BQ.1 subvariant in a sample of a patient from Pune. The BQ.1 is a descendant of BA.5, which is behind the 60 per cent Covid cases in the United States (US), as per reports Mumbai: A meeting between Union Health...
Swiss Re estimates Hurricane Ian claims at approximately $1.3 billion
Swiss Re estimates the preliminary total insured market loss from Hurricane Ian at USD 50–65 billion Swiss Re's P&C business reported and normalised combined ratios were affected in the third quarter by an increase in small- to mid-sized claims, partly driven by...
Global cost of cybercrime may reach $10.5 trillion by 2025: Interpol
Jurgen Stock,Secretary General,Interpol Interpol Secretary General Jurgen Stock said Interpol had developed its global stop-payment mechanism, the Anti-Money Laundering Rapid Response Protocol, which in the past 10 months alone had helped members recover more than $60...
India going beyond health insurance, ensuring health assurance, says PM Modi
"We have been hearing about health insurance in many countries of the world but India is going beyond that, ensuring health assurance," PM Modi said New Delhi: Prime Minister Narendra Modi on Monday kickstarted the distribution of PMJAY-MA Yojana Ayushman cards in...
Fight against inflation will be dogged prolonged RBI article
With inflation remaining above the 6 per cent level, RBI, now, will have to give a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side Mumbai: The fight against inflation will be...
LIC launches non-participating and single premium policy Dhan Varsha
(Lto R) BC Patnaik, MD, Raj Kumar, MD, MR Kumar, chairperson, Siddhatha Mohanty,MD at the launching event of LIC's Dhan Varsha The policy is a close ended plan and will be available for sale upto the end of current financial year -31st March 2023 Mumbai: Life...
Credit Suisse to pay $495 mn in US to settle securities case
Credit Suisse faces a longer list of legal woes. Last week, the prospect of fresh legal risks for the bank arose when US authorities launched a probe investigating whether the bank helped clients hide assets Credit Suisse Group AG agreed to pay $495 million to settle...
AXIS Capital refuses to underwrite energy, mining and other projects without backing of local indigenous communities
Non-governmental organization Rainforest Action Network (RAN) told Reuters that AXIS was the first North American insurer to adopt such a policy, and believed it set a fresh standard for best practice Two insurers in Europe – Swiss Re and Allianz – mention FPIC in...
DGCA asks SpiceJet to get engine oil samples of entire Q400 fleet examined
DGCA had initiated the probe after a SpiceJet flight made an emergency landing at Hyderabad airport after smoke was detected in the cabin on October 12. New Delhi: Following a recent incident of smoke in a SpiceJet plane cabin, the aviation regulator DGCA has directed...
India taking action against spamming, says FM Sitharaman
Finance Minister Nirmala Sitharaman Even in the newer data or digital-based kind of services, which are being extended to people like the account aggregator, there is a conscious attempt to make sure that the consent of the data owner is used and used for that...
Number of Indian poor people fell by about 415 mn between 2005-06 and 2019-21, a ‘historic change, says UN
"Despite tremendous gains, the ongoing task of ending poverty for the 228.9 million poor people in 2019/2021 is daunting — especially as the number has nearly certainly risen since the data were collected'' The number of poor people in India fell by about 415 million...
SC issues notice on Swamy’s plea for probe into role of RBI officials in bank scams
Swamy has alleged that the involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed New Delhi: The Supreme Court on Monday agreed to examine BJP leader Dr Subramanian Swamy's plea seeking...
Mental Illness: Indian Insurers now cover alzheimers, depression and bipolar disorders
Sanil Basutkar Having an appropriate cover and healthcare plan for mental illness needs to be an important aspect when looking for a comprehensive insurance for you and your family How does insurance cover work for mental illness?For around 60 years after...