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Cyclone Nisarga to disrupt India’s Mumbai financial hub
The second cyclone in the country in a fortnight will carry heavy rain and wind speeds as high as 120 kilometers per hour (75 miles). It is seen hitting the coasts of Maharashtra and Gujarat Wednesday afternoon and will be intense enough to damage communication, electricity poles, trees, and plantations, according to the India Meteorological Department.
Southwest monsoon hits Kerala, IMD confirms
Mumbai gets first severe cyclone alert in 129 yrs
IMD’s cyclone track shows that Nisarga will cross very close to the Mumbai coast while entering the land. Maharashtra and Gujarat are on pre-cyclone alert as very heavy to extremely heavy rainfall is expected in parts of the states on June 3 and June 4. Fishermen are advised not to venture into the sea for the next few days as it is expected to be very rough.
AM Best maintains its negative outlook on India’s non-life insurance market
Factors that mnay lead to AM Best revising its India non-life outlook to stable fron negative in the future include evidence of sustainable improvement in the underwriting performance supported by better pricing discipine, as well as an improved balance of overall earnings and stabilising of economic indicators, explained AMBest..
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