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Indian
Surging India virus cases may derail recovery but ratings outlook stable-S&P
“Our downside scenarios suggest a less robust recovery in government revenues, and the severe downside scenario may entail additional fiscal spending,” they added.
The agency, however, said it still expects the economy to expand for the year as a whole, even though it said there are downside risks to its current baseline projection of 11% growth.
It expects growth to fall to 9.8% under its moderate scenario and to 8.2% under the severe scenario based on when the current infection wave peaks.
RBI’s Rs 50K cr liquidity facility can augment hospital bed capacity by 20%: Crisil
”Increased availability of funds at low cost will incentivise hospitals to augment beds, oxygen storage, ICUs and critical medical equipment,” its chief ratings officer Subodh Rai said.
If half of the Rs 50,000 crore window is utilised by augmenting hospital beds, the number of beds will go up by 15-20 per cent of the current capacity, he added.
Life insurers’ new business premium up 45% at Rs 9,739 cr in Apr
All 24 life insurers had collected Rs 6,727.74 crore as new business premium during the same month a year ago.
The largest insurer, state-owned LIC posted 35.6 per cent rise in the first year premium or new business premium at Rs 4,856.76 crore in April 2021, as against Rs 3,581.65 crore in the year-ago month, the Insurance Regulatory and Development Authority of India (Irdai) said.
BBB selects Mini and Pattanaik as MDs of LIC
International
SoftBank‘s stakes in Swiss Re expected not to exceed 10 pc
Swiss Re also is convinced that the long-term trends for the industry remain positive and highly attractive. Risk pools are expected to continue to grow, fuelled by demographic trends and a strengthening of the world economies’ combined GDP, with an overall insurance market expected growth of 5% 1 . High growth markets, in particular, continue to offer much potential, with projected growth rates of 8 per cent .
Climate change could raise food shortage globally: Study
Walmart may buy health insurer Humana
SoftBank said to near deal for $9.6b stake in Swiss Re
There may also be a strategic logic. The purchase potentially would create an in-house insurer for SoftBank’s many stakes in the so-called gig economy, from Uber Technologies Inc. to WeWork Cos. Son could even potentially disrupt the$700 billion motor insurance market that is the most important business line for reinsurers.
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