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Bollywood wakes up to Covid-19 risks,Taapsee Pannu’s Looop Lapeta can be first film to be covered
Covid-19 Pandemic:General insurance industry returns to growth path in June,NIA’s market share at a record 19% in Jun qtr
The industry, at Rs 13,961 crore,has seen a growth 8 per cent year- on- year growth in June but at Rs 39,392 crore has recorded a degrowth of 4.24 per cent y-o-y in June quarter.
However, for first quarter ending in June, the industry with 33 players ,have remained in the negative zone in its premium income.
The month of June has witnessed a lot mid and large private sector companies, which had recorded a negative premium growth in the last three months- March, Apr and May-have returned to the positive growth path.Some of these companies are- ICICI Lombard General Insurance, the largest private sector general insurer, HDFC Ergo Genera Insurance,IFFCO Tokio General Insurance,Reliance General Insurance,SBI General Insurance Company, Kotak Mahindra General Insurance Company, Magma HDI General Insurance Company and Universal Sompo General Insurance, .
However except Kotak Mahindra General Insurance and Universal Sompo General Insurance Company, rest in the pack has degrown their premium in June quarter. .
India arrests South Korean CEO,11 others for gas leak at LG Polymers
Toxic styrene gas leaked from the chemical plant choking many people who were sleeping.
This week, a government-appointed committee recommended that the plant should be shifted away from human habitation and called for action against the top employees. It said LG Polymers had been negligent and warning systems were not working.
Govt shelves merger plans among UII,OIC and NIC,to infuse Rs10,000 cr of fresh capital into 3 cos
The Cabinet also approved increase in authorised share capital of NIC to Rs.7,500 crore and that of UIIC and OlC to Rs 5,000 crore respectively to give effect to the capital infusion.
The capital infusion of Rs.3,475 crore will be allocated to three PSU general insurers as the first tranche in the current financial year and the. balance amount will be released in one or more tranches.
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