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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,...

Mumbai gets first severe cyclone alert in 129 yrs

Indian News       Jun 01, 2020

  Mumbai: The India Meteorological Department on Monday said that the depression in the Arabian Sea is likely to intensify into a severe cyclone and cross the north Maharashtra and south Gujarat coasts on June 3, and will have an impact on Mumbai.   The IMD on...

Southwest monsoon hits Kerala, IMD confirms

Indian News       Jun 01, 2020

  New Delhi: The southwest monsoon has made an onset over Kerala, marking the commencement of the four-month long rainfall season, the India Meteorological Department said on Monday.   "The southwest monsoon has made an onset over Kerala," IMD director general Mrutyunjay Mohapatra said.   The four-month monsoon...

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...

Hurricanes may cause more pain for pandemic-hit insurers

International News       Jun 01, 2020

  London: The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment positions.   However, recent years of hefty damage from hurricanes and high...

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...