General Insurance industry may close FY 2018-19 with a premium of Rs 1. 7 trillion

Indian News       Mar 18, 2019

  Mumbai: Despite over all deceleration in the Indian economy including a visible drop in the auto sales, the domestic general insurance industry with 34 players may end the current fiscal year 2018-19  with a higher premium. .   The industry had logged a gross premium of...

Tougher Asian markets need different approach to risk and insurance driven by data analytics

International News       Mar 18, 2019

  Singapore: Large and complex risks will continue to dominate the Asian commercial insurance market, proving the current business model unsustainable and not fit for purpose, according to Willis Towers Watson’s 2019 Asia Market Report.   “There have been a tighter scrutiny of underwriting practices and withdrawals...

U.S. P/C industry’s net income jumped 70% in 2018

International News       Mar 16, 2019

OLDWICK: The U.S. property/casualty (P/C) industry’s net income improved significantly to $61.4 billion in 2018, a $25.2 billion increase from the prior year, aided by a reduction in catastrophe losses and an increase in net investment income. These preliminary results are detailed in a new...

SEC Sues VW, Ex-CEO over diesel emissions scandal, alleging massive investor fraud

International News       Mar 15, 2019

  The U.S. Securities and Exchange Commission (SEC) is suing Volkswagen (VW) and its former chief executive Martin Winterkorn over the German automaker’s diesel emissions scandal, alleging a “massive fraud” on U.S. investors.   VW was caught using illegal software to cheat U.S. pollution tests in 2015,...

Rs 210 crore of Army insurance funds sunk in IL&FS bonds

Indian News       Mar 15, 2019

  New Delhi: One of the key prongs for the welfare of ex-servicemen -- the Army Group Insurance Fund (AGIF) -- has exposure to toxic IL&FS bonds amounting close to Rs 210 crore. This means that crores worth of insurance premiums, covering all ranks from generals...

HDFC Ergo provides Title Insurance for Mumbai's real estate project  

Indian News       Mar 15, 2019

  Mumbai: HDFC ERGO, country’s third largest non-life insurance provider in the private sector, today announced the adoption of their Title Insurance policy by Shraddha Landmark Private Ltd (SLPL), for their upcoming project in Bhandup (West) near Neptune Mall, off the LBS Road in Mumbai..   Title...

U.S. and India commit to building six nuclear power plants

Indian News       Mar 14, 2019

WASHINGTON: The United States and India on Wednesday agreed to strengthen security and civil nuclear cooperation, including building six U.S. nuclear power plants in India, the two countries said in a joint statement. The agreement came after two days of talks in Washington. The United...

Binny Bansal, co-founder of Flipkart

Binny Bansal and others invest $ 65 mn in Acko general insurance

Indian News       Mar 13, 2019

  Bengaluru: Tech based general insurer Acko has raised $65 million in its Series C financing round, from Binny Bansal, co-founder of Flipkart; RPS Ventures, led by KabirMisra, ex-managing partner at Softbank; and Intact Ventures Inc. – corporate venture arm of Canada’s largest property & casualty...

Boeing 737 Max grounding: Aviation ministry calls meeting at 4pm with airlines for contingency plan

Indian News       Mar 13, 2019

  New DelhI: The Civil Aviation Ministry will hold a meeting with airlines at 4 pm on Wednesday to prepare a contingency plan as a number of flights have been cancelled following the grounding of Boeing 737 Max 8 aircraft, a senior government official said.  On...

S C Khuntia, Chairman, IRDAI

Standardisation of rates and procedures of healthcare providers necessary:Khuntia

Indian News       Mar 11, 2019

S C Khuntia, Chairman, IRDAI NEW DELHI: Subhash Chandra Khuntia, Chairman, IRDAI,today urged health insurance companies and healthcare providers to upgrade their standards and adopt ethical practices to provide access, equity and quality services to the people on a sustainable basis.   Speaking at the 11th...

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