Non-Life

Aon to acquire small-medium business digital insurance agency Cover Wallet

International News       Nov 20, 2019

  LONDON: Aon plc  announced today that it has entered into a definitive agreement to acquire CoverWallet, the leading digital insurance platform for small and medium-sized businesses.   The acquisition provides Aon with additional access to the fast-growing, $200+ billion premium digital insurance market for small and...

Cabinet approves a single regulator for all financial services in GIFT City

Indian News       Nov 20, 2019

  New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the Union Cabinet chaired by the Prime Minister Narendra Modi has approved establishment of a unified authority for regulating all financial services in International Financial Services Centres (IFSCs) at GIFT City in Gujarat, a move that...

Vulnerability detected in WhatsApp; CERT-In issues advisory

Indian News       Nov 20, 2019

  New Delhi: An Indian cyber security agency has warned WhatsApp users against a "vulnerability" that can attack this popular social media messaging app and compromise individual system without seeking permissions.   The Computer Emergency Response Team-India (CERT-In) has issued an advisory in this context calling the...

PSBs reported frauds of over Rs 95,760 crore in six months: FM Sitharaman

Indian News       Nov 19, 2019

  New Delhi: India's state-run banks reported fraud worth Rs 95,760 crore ($13.34 billion) in the first six months of the fiscal year 2019/20 ending in March, finance minister told lawmakers on Tuesday.   The number of fraud cases touched 5,743 during April-Sept. period.   "Government has taken...

Passenger vehicle October retail sales up 11% on festive demand: Report

Indian News       Nov 19, 2019

  New Delhi: Automobile dealers' body FADA on Tuesday said retail sales of passenger vehicles in October increased 11 per cent to 2,48,036 units against the same period last year, driven by festive demand during the month.   According to Federation of Automobile Dealers Associations (FADA), passenger...

Now insurers don't need a surveyor to settle Cyber,Motor theft,Crop claims:IRDAI

Indian News       Nov 19, 2019

  Hyderabad: The insurance regulator IRDAI on Tuesday has enlarged the class of business or line of business (LoB),like claims under  insurance policies including travel and personal accident covers and claims under Aviation Hull insurance policies and Cyber insurance policies,those need not mandatorily use licensed surveyors...

SBI Life's Roop Kumar to chair RIMS India Regional Advisory Group

Indian News       Nov 18, 2019

  NEW YORK: US based ``The Risk and Insurance Management Society, Inc (RIMS)'' announced the appointment of N.K.V. Roop Kumar,EVP & Chief of Risk, Info & Cyber Security Management of SBI Life Insurance Company, as chair of RIMS Regional Advisory Group in India.   RIMS Regional Advisory...

Aviva to retain China, Singapore businesses after conducting Asian review

International News       Nov 18, 2019

  London: Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market, Singapore.   The firm will continue to explore options for some other...

Broking houses downgrade stocks of GIC Re & New India Assurance

Indian News       Nov 18, 2019

  Mumbai:  The share prices of GIC Re and New India Assurance(NIA) fell on Monday after their stocks were downraded by HDFC Securities and HSBC securities respectively. Shares of GIC Re fell over 5 percent on Monday and closed at Rs 245 after HSBC Securities downgraded...

PSUs must be subjected to governance norms on par with pvt firms: CII

Indian News       Nov 17, 2019

  New Delhi: State-owned firms should be subjected to governance standards on par with private players to ensure a level-playing field as "excessive scrutiny" by the CVC, CAG and the threat of a CBI probe often leads to stalled or over-cautious decision-making in PSUs, according to...

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