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Indian
DPIIT notifies 74% FDI cap in insurance sector under automatic route
Shocked by COVID deaths, young Indians rush for life insurance
Delhi bans soaps, detergents not conforming to latest BIS parameters
The National Green Tribunal (NGT) had in January accepted recommendations of the Yamuna Monitoring Committee (YMC) which had suggested directing the Delhi government to issue orders “prohibiting sale, storage and transportation and marketing of detergents which do not conform to the revised BIS standards”.
The primary reason behind the formation of the toxic foam in the Yamuna is high phosphate content in the wastewater because of detergents used in dyeing industries, dhobi ghats and households, according to an official of the Central Pollution Control Board.
Govt plans Rs 50,000 cr programme to boost health infrastructure: Report
The program will allow companies to access funds for ramping up hospital capacity or medical supplies with the government acting as a guarantor, said the people, who asked not to be identified citing rules. The focus is likely to be on strengthening Covid-19 related health infrastructure in smaller towns,.
International
Swiss Re net profit at $421 mn in 2018, gross premium rises 4.7 % to $36.4 bn
Swiss Re Group Chief Executive Officer, Christian Mumenthaler, said: “There was no respite from large nat cat events and man-made disasters in 2018. Our financial strength enabled us to support our clients in these tough times. It was the second challenging year in a row for the industry and us. Our P&C businesses were heavily impacted by the events. Corporate Solutions’ results were disappointing. But even in challenging conditions, I am optimistic about Swiss Re’s future. In the January renewals of our P&C Re business, we were able to grow while keeping our running costs flat. We expect further price improvements in the renewals later this year, especially in the loss-affected markets.”
China Abandons Pledge, Returns to Very Active Hacking of U.S, Report Says
China’s hacking targets in 2018 included telecommunications systems in the U.S. and Asia, according to Crowdstrike. Groups linked to Iran and Russia also appeared to target telecommunications, a sector that yields “the most bang for your buck” for hackers due to the large number of users that can be accessed after breaching a single network, Adam Meyers, vice president of intelligence at Crowdstrike said.
How pricing insurance for cars of future could bring Insurers, Carmakers together
On Jan. 30, Peate announced the creation of Avinew, with $5 million in seed funding led by Los Angeles’ Crosscut Ventures. Its insurance product will monitor drivers’ use of autonomous features on cars made by companies including Tesla, Nissan, Ford and Cadillac, determining discounts based on how the feature is used. Avinew has agreements with most manufacturers, and is working to tie up the rest, Peate said, allowing it to access driving data once a customer gives it permission.
Jean-Paul Conoscente to succeed Victor Peignet as CEO of SCOR Global P&C
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