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Marsh raises stake in its India JV to 92% from 49%
Though the financial details have not ben disclosed Marsh has informed that as part of the transaction, which has been approved by the IRDAI, it has acquired the share from local partners, including the entire shareholding of the Rampart Trust Earlier, other global...
India’s insurance penetration expands by 12% to 4.20% 2020-21,non-life penetration hits 1%
Atul Sahai, CMD, New India Assurance and chairman of General Insurance Council Non-life insurance penetration touching 1 per cent is a very important milestone for the Indian non-life insurance industry. Despite being an extremely challenging year the non-life...
Incurred claims of standalone health insurers grow at slower pace in Covid-hit FY21
As per the Annual Report 2020-21, the net incurred claims of the general insurers stood at Rs 1.12 lakh crore in 2020-21 as against Rs 1.08 lakh crore in 2019-20. The incurred claims exhibited an increase of 2.92 per cent during 2020-21 New Delhi: Net incurred claims...
Odisha CM launches livelihood assistance to beneficiaries of Biju Swasthya Kalyan Yojana
Chief Minister said, "the welfare programs for the poor is the most important program of the state government. The first and second waves of COVID-19 created a challenge for us. This has had a profound effect on people's economic and social lives. The poor have...
Haryana makes second dose of Covid vaccination mandatory from Jan 1, 2022
"From January 1, 2022, any eligible person who has not taken both doses of Covid vaccine will not be permitted in malls, hotels, restaurants, marriage palaces, cinema halls, offices, banks or any such places which attracts crowds," Vij said in the Haryana Assembly ....
Philippine supertyphoon Rai ‘exceeded all predictions’ – forecaster
While it's unclear exactly how global warming is affecting the intensification of such storms, the UN's climate change agency has found it is "likely that the frequency of rapid intensification events have increased over the past four decades" as temperatures rise....
U.S. population grew at record low rate in 2021, in part due to COVID-19
"The slow rate of growth can be attributed to decreased net international migration, decreased fertility, and increased mortality due in part to the COVID-19 pandemic," the Census Bureau said on Tuesday The year 2021 is the first time since 1937 that the U.S....
ESG fund AUM jumps 4.7 times to Rs 12,320 cr in 2 years ending Nov: Report
AUM of Indian ESG funds is only a paltry 0.3 per cent of the over Rs 38.45 lakh crore mutual funds industry as of end-November 2021 and is only a negligible portion of the global fund pool of USD 35.4 trillion as of end 2020 Mumbai: Boosted by the pandemic, the ESG...
Auto industry hopes for smooth ride in New Year after a bumpy 2021
Tata Motors President, Passenger Vehicle Business Unit, Shailesh Chandra said, "Looking ahead, we expect the demand for passenger ICE and electric vehicles to remain strong even as concerns about the supply of semiconductors and high input costs continue alongside the...
Govt appoints non-official directors on boards of NIA,GIC Re and OIC
However, the ministry of finance has not selected any body for the IPO bound Life Insurance Corporation(LIC) which has provisions for two independent directors New Delhi:The government has appointed independent directors on board of various public sector insurance...
Curious case of IRDAI allowing Share Premium as equity capital for ITI Re
"By no stretch of imagination that the share premium amount be taken into account as part of the minimum paid up capital requirement of an insurance or reinsurance company either under the Insurance Act or the Companies Act," D Varadarajan, a Supreme Court lawyer...
Norway wealth fund will pressure, not divest from high gas emitters
It will however be an "active shareholder" in such companies by pushing them to make the transition to net zero emissions, and divest from them if it believes their business models are not sustainable, the deputy head of the central bank - which is in charge of the...
Niva Bupa aims to achieve Rs 5,000 cr GWP; to expand footprint by FY23-24
Niva Bupa has presence in 350 cities across the country which would further increase to over 600 cities by FY23-24. The company aims to achieve Rs 5,000 crore GWP by FY23-24 In the southern market, the brand recorded a a steady growth by registering 84 per cent in...
Sebi issues framework on fees for investment advisory services for accredited investors
In case of large value accredited investors, the quantum and manner of exit load applicable to the client of the portfolio manager will be governed through bilaterally negotiated contractual terms, Sebi said in a separate circular Mumbai: Capital markets regulator...
Samosa most binged Indian snack of 2021; biryani top dish: Swiggy report
When it came to India's top dishes in 2021, the StatEATstics report found biryani to be the undisputed dish, topping the charts for the sixth year in a row The humble samosa is India's ''most binged snack'' of 2021 with about 50 lakh orders, topping the list of the...
India’s cybersecurity services and product industry revenue at USD 9.85 bn in 2021: Report
“India's cybersecurity industry was at the forefront supporting Government and all critical sectors to manage the heightened cyber security risk in the last two years through the pandemic,'' Ministry of Electronics and IT (MeitY) Secretary Ajay Sawhney said New Delhi:...
Center tells states to be on the alert as Omicron cases double
Health Secretary Rajesh Bhushan mentioned that initial evidence shows that Omicron is at least three times more transmissible than the Delta variant. Kindly activate the War rooms/EOCs (Emergency Operation Centre) and keep analysing all trends and surges, no matter...
COVID-19 to reduce UK life expectancy by 9 Months:Royal Bank of Canada analysts
The increased mortality will allow the life insurers to release more funds that have been set aside in reserves, boosting operating profit by 7.4 billion pounds ($9.8 billion), or 16%, each year for the next five years, RBC said. The coronavirus pandemic is seen...