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Indian
‘Corona Kavach, Rakshak policies loss-making products’; insurers urge regulator for re-pricing
FPIs pull out net Rs 6,105 cr from Indian capital mkts so far this fiscal
FPI pulled out net investments worth Rs 11,308 crore from Indian equities in July.the outflow comes after net FPI investment in June stood at Rs 17,215 crore.
”What is encouraging during the first four months is the fact that the number of new investor registrations in India is up 2.5 times year on year as per data released by the NSE,” said S Ranganathan, head of research at LKP Securities.
GOQii plans $ 75-100 mn fundraising; sees sustained interest around preventive healthcare
GOQii is into wearable-based smart-tech-enabled fitness and healthcare, and its platform brings together preventive healthcare ecosystem. The smart health ecosystem integrates tools for personalised coaching, a high-growth health e-commerce store, scheduling health check-ups, a health locker, and the ‘GOQii Cash’ programme where healthy behaviour is rewarded with cash discounts and insurance discounts based on health management data.
GOQii Smart Healthcare’s marquee list of investors include Mitsui, NEA, Megadelta, DSG Consumer Partners, Galaxy Digital, Denlow Investment Trust, Edelweiss, Cheetah Mobile, GWC, and corporate leaders like Ratan Tata, and Vijay Shekhar Sharma.
Businesses can now self-certify GST annual returns, instead of mandatory audit by CA
Under the Goods and Services Tax (GST), filing of annual return — GSTR-9/9A — for 2020-21 is mandatory for all registered businesses, barring those with an aggregate annual turnover of up to Rs 2 crore.
”This will give compliance level relief to thousands of taxpayers, however, would parallelly increase the risk of intentional and unintentional misstatements in the annual filings aggravating the departmental scrutiny,” said AMRG & Associates Senior Partner Rajat Mohan.
International
Victor Launches Lloyd’s Syndicate 2288
“We have extensive history with Lloyd’s as a coverholder and are delighted to broaden our strategic relationship with such a vital market. Lloyd’s digital-forward approach aligns well with Victor’s digital innovation and our international expansion plans,” said Anthony Stevens, president of Victor International.
China to allow 100% FDI in life insurance sector from Jan 2020
Currently, there are at least 28 foreign owned life insurers in China, with AIA being the only company to have a 100% shareholding.The first wholly owned foreign insurance operations were granted almost a year ago, when Axa bought out its domestic joint-venture partner and within the last few weeks Allianz won initial approval to set up a wholly owned holding company. AIA also owns its China business outright, but it was grandfathered in under a licence that pre-dated the restrictions
Willis Towers Watson launches new software for IFRS 17
India among top 10 countries with higher climate performance: Report
“The new Climate Change Performance Index shows signs of a global turnaround in emissions, including declining coal consumption,” said Ursula Hagen, one of the authors of the index jointly presented by Germanwatch, NewClimate Institute and Climate Action Network (CAN).
“However, several large countries are still trying to resist this trend – above all the US. We see opportunities for a halt to rising global emissions – but much will depend on further developments in China and the elections in the USA. Both countries are at cross roads,” Hagen said.
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