SIRC 26
Indian
LIC deploys IDBI Intech’s Anti Money Laundering solution
IDBI Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demands as top priorities. The next generation technologies currently being leveraged include Blockchain, Cybersecurity, Artificial Intelligence and Machine Learning.
India continues to “lag way behind” in COVID vaccination: Fitch
”The (APAC) region which was so successful in containing the virus early on, got behind the curve when it came to rollout of vaccines. Singapore really stands out now with 80 per cent of its population being vaccinated. But many countries in the region like Vietnam, Thailand and India continue to lag way behind and as a result continue to have periodic restrictions,” Schwartz said.
Aditya Birla Health Insurance looks to break even in next fiscal year on strong growth trajectory
“Good thing is that from the regulatory perspective, there have been a lot of enablers. However, there are challenges in terms of the initial impact of COVID-19 cases as the claims have been high,” ABHICL Chief Executive Officer Mayank Bathwal.
The company”s unique and differentiated health-first business model, such as 100 per cent return of premium, is contributing to more than 50 per cent of retail health new business, he said.
First Policy Insurance Brokers acquires Amicus Insurance Brokers
International
Raghurmam Rajan’s advice to govts: Fight virus first, worry about stimulus later
Coronavirus COVID-19 risk increased to ‘very high’ but containment still possible
Global re/insurers face hefty claims if Coronavirus forces Olympics cancellation
The IOC takes out around $800 million of protection for each Summer Games, which covers most of the roughly $1 billion investment it makes in each host city. Insurance sources estimated it would pay a premium of about 2-3%, giving a bill of up to $24 million to insure the Tokyo event.
-Munich Re board member Torsten Jeworrek said on Friday it was a provider of cancellation insurance for Tokyo, for an amount in the hundreds of millions of euros.
-He would not say whether the figure was more or less than its 250 million euro exposure to the 2018 Winter Olympics or if the policy covered coronavirus, citing confidentiality.
Catastrophe Bond prices signal Coronavirus nearing Pandemic Status
The bonds are structured so that their principal, or face value, is written down following outbreaks of certain diseases named as covered perils.
They were issued to raise funds for the World Bank’s Pandemic Emergency Financing Facility, which sends money to developing countries that need help tackling these diseases. To date, the pandemic securities have not been triggered.
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