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GIC Re’s net profit rises 5 % to Rs 1260 crore, cuts gross premium 4% to Rs 8813 crore in Q4 Fy 21

 With a combined ratio of 103.9 per cent(107.6 per cent), GIC Re’s underwriting loss has gone up by 15 per cent y-o-y to Rs 535 crore during the fourth quarter of Fy 2021.
The net investment income of the reinsurer has increased by 20 per cent y-o-y to R 2286 crore in the foutth quater of Fy 2021.For the whole of FY 2021,

Cipla gets DCGI nod to import Moderna’s COVID-19 vaccine for restricted emergency use in India: Sources

According to the sources, approval is likely anytime as the Central Drugs Standard Control Organisation (CDSCO) is in favor of granting permission to Cipla for import of Moderna’s COVID-19 vaccine for restricted emergency use in India considering the pandemic situation in the country and the public interest.

Sebi approves stricter independent dir norms, measures to attract more investors into mkt

Under the proposed changes, a listed company will be required to disclose the resignation letter of an independent director and there will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group.
The new norms will be effective from January 1, 2022.

Johnson & Johnson exploring ways to accelerate delivery of its COVID vaccine in India

‘We are in ongoing discussions with the Government of India and are exploring how best to accelerate our ability to deliver the Johnson & Johnson single dose COVID-19 vaccine to the people of India,” Johnson & Johnson India spokesperson said in a statement.

As per the recent announcement by the Drugs Controller General of India (DCGI), there is no longer a requirement to conduct bridging clinical studies of COVID-19 vaccines in India, the statement added.

AIA Group picks up 24.99% stake in China Post Life Insurance

Lee Yuan Siong, AIA’s Group Chief Executive and President, said: “The Chinese insurance market is already the second-largest in the world with immense long-term growth opportunities given the protection gap of more than US$40 trillion6. This unique investment in China Post Life enables AIA to capture additional areas of growth and benefit from the substantial potential for value creation.

MS&AD becomes the first Japanese insurer to adopt coal exit policy

Yuki Tanabe, Program Director at the Japan Center for a Sustainable Environment and Society (JACSES), said: “We welcome MS&AD’s announcement to completely end insurance underwriting for new coal-fired power generation projects, and urge other Japanese non-life insurers, such as Tokio Marine and Sompo, to establish similar policies immediately.”

Don’t create panic about 3rd wave, basic manta is ‘precaution, no panic’: Jitendra Singh to docs

All India Institute of Medical Sciences (AIIMS) Director Dr Randeep Guleria said, ”As we now prepare for the possibility of the third wave and (the spread of) new variants like Delta Plus… we need to look ahead and see how we can strengthen our public health system focusing on lessons we have learnt from the past.”