Pension

Climate change has a significant impact on the liabilities of non-life insurers and reinsurers:EIOPA

International News       Dec 19, 2019

  While the European insurance sector remains overall well capitalized with a median Solvency ratio of 212 per cent, significant disparities remain across undertakings and countries. Overall solvency positions have also deteriorated in the first half of 2019 and the low interest rate environment is expected...

UK pension insurance deals jump to record $50 billion in 2019, more in pipeline - advisers

International News       Dec 17, 2019

  LONDON:- The UK bulk annuity market, which involves insurers taking on the risk of company pension schemes, has soared to record levels above 40 billion pounds ($51 billion) in 2019 and is expected to stay strong as costs fall, advisers said.   Bulk annuities have proved...

Postmen, grameen dak sevaks may soon start selling insurance policies

Indian News       Dec 06, 2019

NEW DELHI: Postmen and grameen dak sevaks might soon be able to sell insurance policies, with regulator Irdai issuing guidelines wherein such people have to be sponsored by the India Post Payments Bank (IPPB).   The IPPB, which is a corporate agent, can seek permission from...

U.K. investment firm Centricus forms insurance venture with Ex-Goldman partner

International News       Dec 06, 2019

London: Centricus, the U.K. investment firm that helped SoftBank Group Corp. raise its $100 billion Vision Fund, is entering the insurance industry by forming a joint venture with former Goldman Sachs Group Inc. partner Chris Milner.   The new venture with Milner’s firm, European Insurance Consolidation...

Sons-in-law, daughters-in-law too could be arraigned if they neglect senior citizens: Draft Bill

Indian News       Dec 05, 2019

  New Delhi:: A draft Bill to amend the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 has provisions to arraign sons-in-law and daughters-in-law if they fail to look after their aged in-laws and provide monthly maintenance.   The Maintenance and Welfare of Parents and...

RBI keeps rates on hold despite economy fears

Indian News       Dec 05, 2019

  MUMBAI: The Reserve Bank of India (RBI) kept its key lending rate on hold in a surprise decision on Thursday, despite a worrying slowdown in the country that prompted the central bank to sharply reduce its economic growth forecast to 5% for the year through...

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...

EPFO to launch e-inspection system to simplify process

Indian News       Aug 26, 2019

  New Delhi: EPFO will launch an e-inspection system that will simplify inspection process and ensure organisations with open communications will not be subject to physical inspection until absolutely necessary, according to Central Provident Fund Commissioner Sunil Barthwal. EPFO (Employees' Provident Fund Organisation) proposed to amend...

IRDA begins pilot projects to boost auto insurance

Indian News       Aug 22, 2019

  Mumbai: Subhash C Khuntia, chairman,IRDAI said on Thursday that the insurnace regulator has initiated a pilot project in four states to ensure motor vehicle insurance is renewed by the vehicle owners who have discontinued their policy.   This is expected to increase the premium collections in...

12.66 lakh new jobs created in May: ESIC payroll data

Data       Jul 25, 2019

Around 12.66 lakh jobs were created in May, a tad higher than 11.15 lakh jobs in April this year, the Employees' State Insurance Corporation (ESIC) payroll data showed. Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19, a report released by...