Non-Life

Reliance Capital to raise Rs 10,000 crore in current fiscal by selling assets

Indian News       May 18, 2019

  Mumbai: Cash-strapped Reliance Capital on May 18 said it expects to raise Rs 10,000 crore by selling assets and cut down its debt by about 50 percent in the current fiscal.   The company has been working diligently to ensure timely debt repayments and is regular...

London marine insurers widen Middle East threat zone after ship attacks

International News       May 17, 2019

   LONDON:  London’s marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market’s Joint...

Boeing completes 737 Max software upgrade

International News       May 17, 2019

  Chicago: Boeing has completed development of a software update for its 737 Max plane which was grounded following two fatal crashes within five months.The US firm announced that it had flown the 737 Max with the updated software on 207 flights.   It added it would...

Commercial insurance prices up 3% globally, 1.1% in U.S. in Q1: Marsh

International News       May 16, 2019

   Average global commercial insurance prices increased 3 per cent in the first quarter of2019, according to broker Marsh.   This represents the sixth consecutive quarter of average commercial insurance pricing increases, Marsh said in its Global Insurance Market Index for the first quarter of 2019   While...

Advisory firms urge ‘No’ vote on AIG execs’ pay packages

International News       May 16, 2019

American International Group Inc. shareholders should vote against compensation packages for top executives at the insurer’s annual meeting next week, according to two advisory firms that hold sway over investor votes.   Institutional Shareholder Services Inc and Glass Lewis & Co, which together influence the vast...

Bajaj Allianz General reports a net profit of Rs 780 crore in 2019-20

Indian News       May 16, 2019

  Mumbai: Bajaj Allianz General Insurance, reported a net profit of Rs. 780 crore and gross written premium (GWP) soaring up to Rs 11, 097 crore in FY 18-19.    The company booked an underwriting profit of Rs. 18 crore in FY 18-19.   The profit before tax...

Ping An ranks 7th on Forbes' 'Global 2000' List

International News       May 16, 2019

SHANGHAI and HONG KONG: On 15 May 2019, Forbes magazine released its "Global 2000" rankings for listed companies. Benefitting from steady growth in operating income, profit, assets and market capitalization, Ping An has moved up to 7th position in the 2018 rankings, climbing 3 places...

IRDAI unveils norms on exclusions in health covers, new products from 1st April, 2020

Indian News       May 16, 2019

  Hyderabad: In a bid to rationalise and standardise the exclusions in health Insurance covers IRDAI on Thursday has proposed  a new set of norms for all the health insurance products excluding personal accident, domestic and overseas travel policies. All existing health insurance products that are...

Cyber Insurance growth slows down in US, records reaching $2 Billion in 2018, Fitch

International News       May 15, 2019

  The US industry’s total direct written cyber premiums grew 8% in 2018 to $2 billion, down from 37% growth in 2017. The country is by far the largest market in the world for cyber coverage.   The cyber insurance market remains a source of growth for...

Air traffic growth hits 5-yr low in FY19 at 11.6%; cargo at 6%

Indian News       May 15, 2019

New Delhi: The pace of growth in air traffic hit a five-year low at 11.6 percent in fiscal 2019, pulled down by low growth of 3.9 percent in the March quarter as against a healthy 14.9 percent in the first three quarters.   Cargo traffic growth...

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