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Indian
AM Best maintains negative outlook on India non-life insurance
However, in fiscal year 2021, despite India’s GDP contracting by approximately 8%, the non-life insurance market achieved a positive, albeit muted, growth rate of over 5%. Prospectively, AM Best expects the trajectory of non-life insurance premiums in India to continue to be one of growth over the long term with rising consumer awareness and accessibility of insurance products.
Factors that could lead AM Best to revise its segment outlook to stable from negative include evidence of sustainable improvement in underwriting performance, supported by better pricing discipline, as well as an improved balance of overall earnings and stabilised economic indicators.
Monsoon likely to be normal in north and south, above-normal in central India: IMD
Covid-19: HC notice to Centre, ICMR, Delhi Govt on advisory barring repeat RTPCR tests
2.21 lakh hectare of crops damaged in Cyclone Yaas in Bengal, says Mamata
”Around 2.21 lakh hectare of crops and 71,560 hectare of horticulture have been damaged in West Bengal by Cyclone Yaas. The state has incurred a total loss of more than Rs 20,000 crore,” she told reporters at the secretariat.
Banerjee on May 28 submitted a report to Prime Minister Narendra Modi on the damages caused by the cyclone, and sought a Rs 20,000-crore package for redevelopment of the worst-affected areas.
International
Microsoft gears up for another digital revolution with quantum computing,
Buffett’s Berkshire doubles profit, repurchases $900 million stock in third quarter
Insurance provides a stream of cash that Berkshire can invest around the world. Float, or insurance premiums collected before claims are paid and which help fund Berkshire’s growth, ended September at $118 billion. The company has $103.6 billion in cash, short-term Treasuries and other similar investments.
Private messages of 120 mn Facebook users hacked, says BBC report
Microsoft tests show 91% new PCs from India loaded with pirated software
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