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AM Best maintains stable outlook on Malaysia’s non-life insurance segment
Malaysia's non-life gross written premium rose by 4.0% to MYR 21.97 billion (USD 4.95 billion) in 2021, 44% of which was driven by the general takaful segment. AM Best is maintaining a stable market segment outlook on the Malaysian non-life insurance industry due to...
Sun Life to sell its UK business to Phoenix Group
Sun Life UK manages life and pension policies and annuity blocks for UK Clients. The company is closed to new sales and has been operating as a run-off business in the life and pension policies segment since 2001 Headquartered in London, Phoenix Group is the UK's...
UK regulators approve a second Lloyd’s Protected Cell Company building on the success of London Bridge Risk
Lloyd’s members and managing agents will be able to use the new vehicle to manage their capital and risk management requirements by attracting new sources of capital and reinsurance protection. London: Lloyd’s today announced that it has received regulatory approval...
Return to office highest in telecom, consulting sectors; IT lags: Survey
"The survey has made it clear that a distributed workspace strategy is the way to go for occupiers in this new era of experiential workplaces, as occupiers emerge from the after-effects of the pandemic. Flex spaces, in particular, are leading this growth, as occupiers...
Andhra Pradesh: CM takes note of Anakapelle gas leak, orders safety audit in all industries
YS Jagan Mohan Reddy,,Chief Minister, Andhra Pradesh According to the Vishakhapatnam district officials, 53 people were admitted for treatment in a government hospital, while 41 others were undergoing treatment in other hospitals of the district Anakapalle (Andhra...
Global investment in InsurTech at $2.41 billion in Q2 2022, drops 50% over Q2 2021:Gallagher Re
Q2 saw 40 L&H(Life & Health) investments of $918 million, up 12.4%, and 92 P&C InsurTech deals worth $1.49 billion in total. P&C deal flow was down 13.2%, but total investment was up 5.9% on Q1, while average deal size was $20.73 million London: Global...
Swiss Re launches new insurance-linked investment advisory business, to focus on CAT bonds
Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC's) investment strategy focuses on insurance-linked securities, primarily catastrophe bonds, thus allowing investors the opportunity to access Swiss Re's capabilities in catastrophe bond investments,...
Taiwan turmoil affects shipping and global supply chain
Gas suppliers are rerouting or reducing speed on some liquefied natural gas (LNG) vessels currently en route to North Asia Shipments to Taiwan and Japan this weekend will be affected, said the sources SINGAPORE: China's announcement of military drills around Taiwan as...
Retail auto sales drop 8% in July: FADA
Federation of Automobile Dealers Associations (FADA) President Vinkesh Gulati noted that though there is a blip in July numbers, the segment continues to see introduction of new models, especially compact SUVs, aiding growth New Delhi: Automobile retail sales in India...
Wage Revision: Govt offers 12% hike with 5-yr arrears to PSU general insurance industry
The unions of PSU general insurance industry are yet to respond to the new proposal However, there are indications that the unions will reject the latest wage revision proposals from the GIPSA and would like to stick their demand for a pay parity with Life Insurance...
Insurers can raise funds through Preference Share and Subordinated debts without IRDAI’s prior approvals
The total quantum of the instruments under other forms of capital taken together has to be lower of the following, at any point in time: 50 percent of the total paid up equity share capital and securities premium of an insurer and 50 percent of the net worth of the...
World’s food supply faces new threat from lack of rain in India
Much is riding on the rice crop in India and the monsoon’s progress. Some agricultural scientists are optimistic that there’s still time to continue planting and make up for some of the shortfall. Rain is forecast to be normal for August to September, which may...
348 apps blocked for collecting, transmitting users’ info, says Govt
"The Ministry of Home Affairs (MHA) has identified 348 mobile applications which were collecting users' information and transmitting it in an unauthorised manner to servers located outside the country for profiling New Delhi: Amid rising complaints against mobile...
LIC breaks into Fortune 100 list
The nation's biggest life insurer LIC with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. This is the first outing of LIC on the list, which ranks listed companies by sales New Delhi:...
Over 23.08 cr Ayushman Bharat Health Account numbers created
Union Health Minister Mansukh Mandaviya The Ayushman Bharat Digital Mission (ABDM) aims to develop the backbone necessary to support the integrated digital health infrastructure of the country. It will bridge the existing gap amongst different stakeholders of the...
Climate change: Cabinet approves India’s updated nationally determined contributions
According to the updated NDC, India now stands committed to reducing emissions intensity of its GDP by 45 per cent by 2030, from 2005 level, and achieving about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by...
Health ministry releases dos and don’ts to prevent contracting monkeypox
The incubation period is usually from six to 13 days and the case fatality rate of monkeypox has historically ranged up to 11 per cent in the general population and higher among children. In recent times, the case fatality rate has been around 3 to 6 per cent Among...
Govt withdraws privacy bill proposal, working on new law
A government notice stated it was taking the decision as a parliamentary panel's review of the bill had suggested 81 amendments, leading to the need for a new "comprehensive legal framework" The privacy bill was designed to protect Indian citizens and establish a...