by AIP Online Bureau | Jul 31, 2018 | Indian News, Risk Management
NEW DELHI: Bribe givers can now be punished with a jail term of maximum of seven years under a new anti-corruption law that has got assent from President Ram Nath Kovind. Besides, public servants — politicians, bureaucrats and bankers among others...
by AIP Online Bureau | Jul 31, 2018 | Indian News, Policy
New Delhi: The government has decided to withdraw the controversial FRDI bill and has informed about it to the Chairman of the parliamentary panel examining the proposed legislation. Trinamool Congress leader Saugata Ray said in the Lok Sabha that...
by AIP Online Bureau | Jul 31, 2018 | Indian News
Mumbai: The SBI General Insurance has kick started FY 2018-19 with strong note including a net profit of Rs 113 crore, an underwriting profit of Rs 7 cr and a positive combined ratio of 99 per cent in Q1. The company had a profit...
by AIP Online Bureau | Jul 31, 2018 | Indian News
New Delhi: Delhi based IFFCO Tokio general insurance reported a 34 percent growth in its GWP to Rs.1646 crore in the first quarter ended in June. The company’s GWP during the same period last year was Rs.1233 crore. The company’s net profit at...
by AIP Online Bureau | Jul 31, 2018 | Articles, Regulation, Risk Management, Technology
When the new International Financial Reporting Standard 17 (IFRS 17) takes effect onJanuary 1, 2021, it will upend decades-old insurance financial reporting standards. Though seemingly the tiniest glimmer on a distant horizon, navigating the intricacies of IFRS...
by AIP Online Bureau | Jul 30, 2018 | Data
Indian companies have been involved in deals worth a record $97.6 billion this year. Top banker JPMorgan Chase & Co. is predicting more offshore interest in the nation, particularly in technology, media and telecom. Walmart Inc.’s $16 billion...
by AIP Online Bureau | Jul 30, 2018 | International News
Malaysia Airlines Flight 370, missing since 2014, was probably deliberately steered off course and flown to the southern Indian Ocean, according to the Malaysian government’s safety report into the disaster. It’s difficult to attribute the...
by AIP Online Bureau | Jul 30, 2018 | Indian News, Reinsurance
Mumbai: With higher premium and better claim ratio,the net profit of GIC Re, the state owned reinsurer, at Rs 771.42 crore, has almost doubled in Q1 2018-19 over Rs 390.11 crore in in the year-ago quarter.The GIC Re’s underwriting losses have fallen...
by AIP Online Bureau | Jul 30, 2018 | Indian News
Mumbai: New India Assurance (NIA) has posted a net profit of Rs 635 crore, up 27 per cent in the first quarter of FY 2018-19. The company’s combined ratio, the key parameter in assessing the profitability, declined to 111.02 per cent in Q1...
by AIP Online Bureau | Jul 30, 2018 | Indian News, Pension & Social Security
Gawahati: The Assam government is set to roll out a law from October 2 making it mandatory for state government employees to look after their aged and dependent parents and differently-abled siblings who do not have a source of income. Last year, the state...
