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Indian
New India Assurance records a net profit of Rs 850 cr in Apr-Dec period
Atul Sahai, chairman and managing director.said, “Q3FY19 has been challenging quarter for the company with multiple CAT events like Typhoon Trami, Hurricane Michael, California Wildfires, Kuwait floods and further adverse development in Hurricane Jebi and Hurricane Irma severely impacting the foreign operations in UK, Japan, Bahrain, Aruba and Curacao. The overall impact of these events in Q3FY19 was about Rs 450 Cr.
On the positive side, the company has taken steps taken to correct the pricing in health line of business is getting reflected in the improved results by this line of business, he said.
Moderate intensity quake jolts Kashmir
Merger of 3 PSU general insurers to be completed by FY’20
Goyal’s new pension scheme pose risk for the Atal Pension Yojana
“The new pension scheme has the government as a 50 per cent co-contributor which is not there in the APY. So, people will prefer the new pension scheme to APY. Moreover, PFRDA had requested the government to increase the age limit under APY to 50 years from 40 years, which didn’t happen. So, we will have to revise the APY target,’’ said Contractor.
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