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Indian
India’s COVID-19 case total nears 20 million
Medical experts say real numbers across the country of 1.35 billion may be five to 10 times higher than the official tally.
Hospitals have filled to capacity, medical oxygen supplies have run short and morgues and crematoriums have been swamped as the country deals with the surge in cases.
At least 11 states and union territories have imposed some form of restrictions to try and stem infections, but Prime Minister Narendra Modi’s government is reluctant to impose a national lockdown, concerned about the economic impact.
Vehicle ownership transfer: Road ministry notifies changes in motor vehicle rules
“Where the owner of a motor vehicle dies, the person nominated by the vehicle owner in the certificate of registration or the person succeeding to the possession of the vehicle, as the case may be, may for a period of three months from the death of the owner of the motor vehicle, use the vehicle as if it has been transferred to him, Provided that such person has, within thirty days of the death of the owner, informed the registering authority of the occurrence of the death of the owner and of his own intention to use the vehicle,” the notification said.
Govt to set up temporary hospitals with 10,000 oxygenated beds near industrial units
Vaccine pricing policy may create disparity, revisit it: Supreme Court directs Centre
The apex court said that compelling state governments to negotiate with manufacturers on grounds of promoting competition and making it attractive for new vaccine manufacturers will result in a serious detriment to those in the age group of 18 to 44 years, who will be vaccinated by state governments.
International
World Bank raises a record USD1.36 bn cat bond
The bond, which mitigates balance sheet risk for the World Bank in Chile, Colombia, Mexico and Peru by offering protection against earthquake risk on a parametric basis, is the second largest catastrophe bond on record, and represents the largest sovereign risk transfer in the history of the insurance-linked securities sector
January windstorms expected to cost European insurers more than $2bn:Aon
Competitive climate broadly remains unchanged across Asia-Pacific markets:Hannover Re
Premium growth was particularly marked in Asia and the United Kingdom. Attractive opportunities to expand the portfolio also opened up in North America, the Caribbean and Eastern Europe as well as in the areas of financial solutions and cyber risks. Despite the pleasing development in property and casualty reinsurance, the profitability of the treaties still takes precedence over pure premium growth.
Cat hit Markets see price rise at 1 January renewals:Munich Re
“Other markets and branches were also freed from the pricing pressures of previous years, and price development was stable or even slightly positive. Despite the high losses from natural catastrophes in 2017, the availability of reinsurance capital remained high during the January renewals, so price increases were moderate overall, due also to the slight rise in market interest rates,’’ said the second largest global reinsurer while announcing its annual results on Tuesday.
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