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ONGC struggles to ship Russian oil to Asia as sanctions bite
Moscow’s ability to ship that grade, which requires vessels that can break through ice, is becoming harder due to concerns from shippers over reputational risk and the increasing difficulty for Russian assets to find insurance coverage New Delhi: India’s Oil and...
Govt working on digitisation of healthcare services under ‘One Nation, One Health’: PM Modi
Prime Minister Narendra Modi PM Modi said the government focused on seven things in terms of health including preventive healthcare including through yoga and swachhta campaigns, early detection through new testing centres, primary healthcare centres in every...
SBI Life Q4 net profit rises 26% to Rs 672 cr
SBI Life said it registered a growth of 39 per cent in the value of new business (VoNB) to Rs 3,700 crore in FY22 Mumbai: SBI Life Insurance (SBI Life) on Thursday reported a 26.3 per cent rise in its net profit at Rs 672 crore for quarter ended March 2022. The life...
Bajaj Life insurance net plunges 80 % to Rs 48 crore in Q4FY2021-22
The life insurer's new business value (NBV), which is the metric used to measure profitability of life insurance businesses, increased by 72 per cent to 621 crore in FY22 over Rs 361 crore in FY21 Mumbai: Bajaj Allianz Life's 'net profit in Q4 FY22 plunged 80 per cent...
ManipalCigna Health’s new product to provide cover to diabetes, obesity patients with 90 days waiting period
Prasun Sikdar, managing director and CEO, ManipalCigna Halth Insurance The product offers cashless services even for OPD expenses, industry first feature `Switch Off' that allows customers to switch off the cover while travelling abroad from second year onwards, for a...
Left opposes LIC IPO, alleges ‘scam’, ‘sell off’
Communist Party of India (CPI) general secretary D Raja said it was a “matter of regret” that the BJP-led NDA government is selling off all national assets through monetisation policy and privatisation of public sector units. He said it was a ''tragedy'' that those...
Irdai proposes to standardise administration of group health insurance products
''All risk factors per unit of coverage such as individual, family, group floater, etc, should be separately analysed and priced,'' it said. Further, pricing should be based on sound actuarial principles, supporting data considering all the relevant aspects of pricing...
Most Indians keen to travel abroad in next six months: Survey
In terms of destinations, the survey found that almost 50 per cent of Indians were considering travel to Asia Pacific destinations, with Australia, Thailand and Indonesia topping the chart as the most searched destinations As COVID-19 related international border...
Swiss Re forecasts a “stagflation-like” environment with slower growth and higher inflation
Jerome Haegeli,Swiss Re Group chief economist Stagflation is fully back on the radar and we now need to be particularly disciplined. 2022 will be a challenging year for insurers with both sides of the balance sheet under pressure" Swiss Re Group chief economist Jerome...
Ransomware a growing cyber risk for US corporates, financials & Govt: Fitch
In 2021, there were 421.5 mil. attempted ransomware attacks in the U.S. and 623.3 mil. globally, up 98% and 105% YoY, respectively, according to a March 2022 report from the Senate Committee on Homeland Security and Governmental Affairs. Ransom payments are also...
Bajaj General’s net profit falls 10% to Rs 248 crore in Q4FY2021-22 on higher covid claims
Bajaj Allianz General Insurance CEO Tapan Singhel It may be only company in the industry, as all the general insurers are yet to announce their FYQ4 2021-22 results, which, at 98.3 per cent, has a combined ratio below 100% in Q4 FY22 as compared to 96.6% in Q4 FY21...
Tata Motors aims to build 80,000 EVs in Fy 2022-23: Report
By 2030, India wants electric models to make up 30% of total car sales. Tata accounts for 90% of India's EV sales - a segment that still only represents 1% of the country's annual sales of about 3 million vehicles Mumbai: Tata Motors expects to aggressively ramp up...
IndiGo becomes 1st airline to land aircraft using navigation system GAGAN
"In India's civil aviation sector, GAGAN will modernise the airspace, reduce flight delays, save fuel and improve flight safety," the statement said The Directorate General of Civil Aviation (DGCA) has issued a mandate for all aircraft registered in India after July...
Heat wave disrupts industrial activity as power demand soars in India
Industrial disruption and widespread power cuts are also bad news for corporate India, as economic activity has just started to pick up after months of stagnation amid coronavirus lockdowns New Delhi: India's northwestern Rajasthan state scheduled four hours of power...
Price increases continue to moderate in Asian markets
Globally, cyber insurance pricing continues to show significant rate increases — 110% in the US and 102% in the UK for the quarter London: Insurance pricing in the first quarter of 2022 in Asia increased 3%, down from 4% in the prior quarter, as price increases...
Britain proposes post-Brexit changes to insurer capital rules
Britain inherited the so-called Solvency II rules from the European Union, and reforming them is seen by industry and government as a key reform after Brexit to keep the financial sector globally competitive London: Britain launched on Thursday a public consultation...
As India swelters under extreme heat, Modi warns of fire risk
Prime Minister Narendra Modi "We are seeing increasing incidents of fires in various places - in jungles, important buildings and in hospitals - in the past few days," Modi said He asked states to conduct fire-safety audits for hospitals. Dozens of people die every...
IP protection: India among most challenging economies, says USTR
While India made meaningful progress to promote IP protection and enforcement in some areas over the past year, it failed to resolve recent and long-standing challenges and it created new concerns for right holders, the report by US Trade Representative said...