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Indian
India could bar transactions in crypto, permit holding as assets
India's Prime Minister Narendra Modi last week chaired a meeting to...
Dengue cases spike in Delhi: 20-25 patients being admitted daily at LNJP Hospital
As many as nine people have died this year due to the vector-borne...
India temporarily shuts five coal-fired power plants around New Delhi
Delhi, among the world's most polluted capital cities, battles...
Family of non-resident Keralites who died abroad due to COVID-19 eligible for Rs 50k ex-gratia? HC asks state govt
Kochi: Family of non-resident Keralites who died abroad due to...
International
Total global reinsurance capital rises by 15% to $605 bn at year-end 2019,underlying returns remain low: Willis Re
James Kent, global CEO, Willis Re, said: “This analysis demonstrates how sensitive the global reinsurance capital base is to investment markets. Thankfully strong capital growth in 2019 allied to judicious investment strategies by many companies has put the industry in a good position to weather the current volatile environment. At the same time, the analysis demonstrates that underlying profitability remains a core focus for reinsurers resulting in rate increases across many lines of business, to support the pricing momentum on loss impacted lines that started in some cases in mid-2018.”
GIC RE improves its Brazilian status from ‘Occasional Reinsurer’ to ‘Admitted Reinsurer’
Devesh Srivastava, CMD, GIC Re, said “The upgrade to the new status was published in Brazilian Official Gazette, on April 14, 2020, through an ordinance by SUSEP. The license will allow the company to expand its presence and do more reinsurance business in Brazil. It is valid for an indefinite period.However, the admitted reinsurer is mandated to submit annual documents to SUSEP. The Americas have been a territory where the footprint of GIC Re has traditionally been weak and this will present us with good opportunities to harness more business and forge relationships in the area.”
U.S. Supreme Court rules for insurers over $12 billion Obamacare claims
Health insurers turned to federal courts to obtain the payments. The U.S. Court of Appeals for the Federal Circuit ruled in 2018 that Congress effectively repealed its obligation to pay the insurers, prompting the insurers to appeal to the Supreme Court.
The law, dubbed Obamacare, has enabled millions of Americans who previously had no medical coverage to obtain insurance, including those with pre-existing medical conditions.Unlike other court cases involving Obamacare, this dispute concerned only payments to insurers and did not directly challenge the law itself.
Global coronavirus death toll hits 200,000
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