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Indian
Overall impact of second Covid wave on economy not likely to be large: CEA
With 1,52,734 new COVID-19 cases, India sees lowest daily rise in 50 days
Punjab National Bank to divest stake in Canara HSBC OBC Life Insurance
PNB, however, has not disclosed how much stake it will dilute in Canara HSBC OBC Life Insurance.
It is also a promoter of another insurer PNB Metlife Insurance, owning the highest stake of 30 per cent. The company was set up in 2001, in which other shareholders include US-based Metlife with 26 per cent, Elpro (21 per cent) and M Pallonji & Company (18 per cent).
The erstwhile OBC held 23 per cent stake in the life insurer, which by virtue of amalgamation has come to PNB.
Canara Bank owns 51 per cent stake, while HSBC Insurance (Asia Pacific) Holdings Ltd as a foreign partner owns 26 per cent.
IRDAI asks insurers for speedy claims settlement in areas hit by cyclones Tauktae, Yaas
International
AXA XL gets in-principle approval for Brexit move
India and Bangladesh ink pacts for enhancing inland and coastal waterways connectivity
In an important understanding reached at between the two countries, the Standard Operating Procedure (SOP) for movement of passengers and cruise vessels on Inland Protocol route and coastal shipping routes have been finalised. These river cruise services are likely to commence between Kolkata – Dhaka – Guwahati – Jorhat and back.
Munich Re America Partners with BriteCore to Offer Personal Inland Flood Coverage in the U.S. to Insurance Carriers
“Many people don’t realize that their homeowners insurance policy typically excludes flood damage. If the property is located outside of a Special Flood Hazard Area (SFHA) or 100 year flood plain, flood risk may not even be top-of-mind for many people,” said Sanjay Mehrotra, Strategic Product Operations Manager, Munich Re America. “Partnering with BriteCore, we’ve made it easy for insurance carriers to offer a personal lines flood endorsement to their customers.”
Australia’s AMP sells life insurance arm at discount, bleeds funds
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