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Indian
Govt proposes no hike in mandatory Motor TP premium in FY23-24, to be implemented from Aug
The Ministry of Road Transport and Highways (Morth) has come out...
LIC announces relaxations for victims of Cyclone Biparjoy
LIC in a statement said it is reaching out to the affected people...
Ensure availability of critical health services in flood-affected Assam: Mandaviya to officials
Union Health Minister Mansukh Mandaviya directed them to prepare an...
R’than first state to give compensation for death of cows due to lumpy disease: CM
Ashok Gehlot,Chief Minister, Rajasthan Under the inflation relief...
International
Global reinsurers in a quandry on incorporating Climate Change Risk
“If re/insurers are not properly accounting for the impact of climate change in their catastrophe modeling and pricing today, it could lead to significant unexpected volatility in their earnings and capital, resulting in pricing corrections that could have implications for the cost of reinsurance purchased by primary writers, thereby hitting their profitability and risk profiles as well,” added the report.
UK’s £800 million Reinsurance Scheme officially opens, to help providing covers to festivals, conferences and live events
The government has partnered with Lloyd’s Market Association to deliver the scheme as part of the Plan for Jobs. The scheme will see the government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need. Insurers Munich Re, Beazley, Arch, Dale, and Ark are carriers of the scheme with more firms coming on board in the weeks to come.
Scientists call for global targets to beat diabetes, strokes
Some 80 per cent of people with diabetes live in low and middle income countries (LMICs), such as India. Fewer than 6 per cent of these individuals can access the care they need to manage their diabetes and prevent long-term complications like heart attacks, strokes, kidney diseases or blindness.
Hitting targets also would reduce deaths over the coming 10 years in all world regions, but the benefits are larger in some than others. For example, Eastern sub-Saharan Africa is the region with the most deaths from cardiovascular diseases due to diabetes at baseline (46 deaths per 1,000 people with diabetes) – if targets were achieved, deaths would fall to 27 per 1,000, the researchers assess.
Hong Kong tycoon Richard Li’s FWD makes U.S. IPO filing public
Richard Li is the son of Hong Kong’s richest man, Li Ka-Shing. FWD’s foundation was laid in 2012 with the acquisition of ING’s Hong Kong, Macau and Thailand units for $2.1 billion, and it has since continued this bolt-on approach.
Major acquisitions include the $3 billion purchase of Siam Commercial Bank PCL’s life insurance unit in Thailand in 2019, just days after agreeing to buy the Hong Kong operations of U.S. insurer MetLife Inc.
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