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Indian
Investors brace for market fallout as most of India’s states lock down
Insurance, MF players cut equity investments in Q4; LIC booked profits
Holdings by insurance companies declined to a 5-year low of 4.80 per cent as on March 31, down from 5 per cent at the end of December 31, 2020. In value terms, it went up by 3.09 per cent from the previous quarter to an all-time high of Rs 9.48 lakh crore as on March 31, 2021.
LIC accounts for over three-fourths of the overall value of the stakes held by insurance companies in equities, it added.
Mutual funds’ holding reduced to 7.23 per cent as on March 31, 2021 down from 7.42 per cent as on December 31, 2020, and Haldea said that this is the fourth straight quarter where the MFs have sold their holdings after 24 continuous quarters of an increase.
2,118 branches of state-run banks closed or merged in last fiscal: RTI
Rail union demands compensation on a par with frontline workers in case of death on duty during Covid
In a letter to Railway Minister Piyush Goyal, general secretary of the All India Railwaymen’s Federation Shiva Gopal Mishra said around 1,500 railway staffers died during the pandemic while more than one lakh have been infected by the virus.
He said that more than 65,000 have recovered and joined their duties again, adding while a letter of appreciation from the minister lauding their dedication was encouraging, a parity in compensation would be of great help for the families.
International
Cat Bond issuance reaches record in Jan-Mar Qtr
The first quarter catastrophe bond issuance figure has set a positive tone for the remainder of 2018. Following the potential losses that could have been incurred from the series of 2017 natural disaster events, investors in this sector could easily have taken a ‘wait-and-see’ approach,Paul Schultz, Chief Executive Officer of Aon Securities
SCOR’s net income at EUR 166 million, up 18.6 % in Q1 2018
At the April 1, 2018, renewals, SCOR Global P&C grew gross written premiums by 13.5% at constant exchange rates to EUR 505 million, while improving risk adjusted pricing by 2.9% and maintaining stable terms and conditions. Growth was achieved in both Treaty (especially in India and the U.S.) and in Specialty Treaties (including in Agriculture, Credit and Surety and U.S. Cat).
Disasters could cost Asia-Pacific region $160 billion per year by 2030, UN warns
Lloyd’s to end most paper trading by end of 2019
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