Health

AM Best maintains its negative outlook on India’s non-life insurance market

Indian News       Jun 01, 2020

  London: International rating agency AM Best has maintained its negative  outlook on India’s non-life insurance market. Key factors underpinning the outlook, according to the rating agency, include: -Competitive market conditions and persistency  poor pricing discipline in core business lines of motor , health and agriculture,...

MFs invest Rs 1,230 crore in equities during lockdown; keeping high liquidity for possible redemptions

Indian News       Jun 01, 2020

  Mumbai: Mutual funds have invested just Rs 1,230 crore in stock markets during the lockdown and industry experts believe they are still waiting for a good "entry point" and maintaining high liquidity for any possible redemptions by corporate houses.   Going ahead, the primary factor that...

 India's May jobless rate at 23.48% - private think-tank CMIE

Facts       Jun 01, 2020

NEW DELHI:  India’s unemployment rate in May rose to 23.48%, marginally lower from 23.52% in April, according to data released by the Centre for Monitoring Indian Economy (CMIE) on Monday, reflecting the impact of coronavirus pandemic.   Maharashtra's unemployment rate decreased 4.4 percentage points, falling to...

British watchdog enlists 8 insurers in pandemic test case of Business Interruption cover

International News       Jun 01, 2020

London: Insurers including Hiscox, RSA and QBE will take part in a UK test case to decide whether their policies should pay out millions of pounds to companies hit by the coronavirus pandemic, the industry regulator said on Monday.   A national lockdown has triggered insurance...

India tells airlines to keep middle seat vacant as far as possible

Facts       Jun 01, 2020

NEW DELHI: Airlines in India will need to keep the middle seat empty if passenger load factors and seat capacity allow for it, the aviation regulator said in a notice to domestic and international carriers.   However, members of the same family would be allowed to...

New coronavirus losing potency, top Italian doctor says

Facts       Jun 01, 2020

ROME:  The new coronavirus is losing its potency and has become much less lethal, a senior Italian doctor said on Sunday.“In reality, the virus clinically no longer exists in Italy,” said Alberto Zangrillo, the head of the San Raffaele Hospital in Milan in the northern...

India's coronavirus infections overtake France amid criticism of lockdown

Indian News       Jun 01, 2020

  NEW DELHI: India’s cases of coronavirus crossed 190,000, the health ministry said on Monday, overtaking France to become seventh highest in the world, as the government eases back on most curbs after a two-month-long lockdown that left millions without work.With a record 8,392 new cases...

Moody's cuts India's rating to lowest investment grade with negative outlook

Indian News       Jun 01, 2020

NEW DELHI: Moody’s Investors Service downgraded India’s credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia’s third-largest economy, rising debt and persistent stress in parts of the financial system.   It said the cut to Baa3 from...

Insurers stare at a Rs 2000 crore hit from ``Amphan'' devastated WB and Orissa

Indian News       May 31, 2020

  Kolkata: The domestic general insurers are now expecting a Rs 2000 crore hit from two states- West Bengal (WB) and Orissa where cyclone ``Amphan'' has severly devastated some of parts of these two states. Till Saturday, the general insurance industry had already received claims worth...

Herd immunity as Covid-19 strategy risky, countries must make timely interventions: CSIR DG

Facts       May 31, 2020

New Delhi: Banking on developing herd immunity to fight coronavirus is “too large a risk” for any nation and only timely interventions can mitigate the spread of COVID-19, Director General of the Council of Scientific and Industrial Research (CSIR) Shekhar Mande said.   Herd immunity is...

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