Non-Life

Giant wind turbine collapses in northern Sweden; no one hurt

International News       Nov 23, 2020

  Stockholm: A 230-meter (755 feet) tall wind turbine in Arctic Sweden came crashing down on the snow during the weekend as high winds swept across the region, officials said Monday. No one was injured. The white tower, blades and turbine, built by Denmark-based group Vestas,...

Hamilton sets up a new Bermuda special purpose insurer ‘Ada Re’

International News       Nov 23, 2020

  HAMILTON, Bermuda: Hamilton Insurance Group Ltd. announced the launch of Ada Capital Management Ltd., a Bermuda-regulated insurance agent authorized to underwrite on behalf of Ada Re, a new Bermudian special purpose insurer. Ada Re has successfully secured capital commitments and, subject to regulatory approvals, will...

UK FM says he hopes for a Brexit deal but not at any price

International News       Nov 23, 2020

  London: British finance minister Rishi Sunak has said there is genuine progress in Brexit talks with the European Union, but that it would be better to walk away from a bad trade deal than tie Britain’s hands in the future. Sunak, one of the few...

Serum Institute to focus on supplying COVID-19 vaccine to India first

Indian News       Nov 23, 2020

  The Serum Institute of India, the world’s largest manufacturer of vaccines by volume, will first focus on supplying AstraZeneca Plc’s COVID-19 vaccine to Indians before distributing it to other countries, Serum’s Chief Executive Adar Poonawalla said on Monday. “It’s very important we take care of...

Prime Minister Narendra Modi

As India readies vaccine strategy, Modi warns of possible side-effects

Indian News       Nov 23, 2020

  NEW DELHI: Indian Prime Minister Narendra Modi warned on Tuesday that any COVID-19 vaccine could lead to side-effects in some people, as even popular medicines do, and that the government would only go by science in finalising one for the country.The comments came ahead of...

Howden acquiers cyber and tech specialist broker Safeonline

International News       Nov 23, 2020

  London: Howden, the international insurance broker, announced it has reached an agreement to acquire Safeonline, a London-based cyber and tech specialist broker and Lloyd’s coverholder. Safeonline offers a range of product lines including cyber and tech, financial & professional lines, programmes & binders and contingency...

Lloyd’s first Digital Syndicate Ki goes live, announces list of broker trading partners

International News       Nov 23, 2020

  London:: Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, announced the onboarding of its first trading partners to its proprietary digital platform, providing access to its algorithmic underwriting in readiness for writing business from Jan 1. Ki said it is working with a...

India says local COVID-19 vaccine final trials could end within two months

Indian News       Nov 23, 2020

  NEW DELHI:  India’s health minister said on Sunday a locally-developed COVID-19 vaccine candidate could complete its final trials in a month or two, raising hopes for a rapid roll-out in a country with the world’s second highest number of infections. The state-run Indian Council of...

HDFC Life & HDFC Ergo launch a combi protection plan with term & COVID-19 health cover in a single policy.

Indian News       Nov 23, 2020

  HDFC Life and HDFC Ergo have joined hands to launch a combi product ‘Click 2 Protect Corona Kavach’ to provide a complete financial protection package in the current pandemic environment, with HDFC Life’s Click 2 Protect 3D Plus (C2P3D Plus) and HDFC Ergo’s Corona Kavach....

DIPAM looks to appoint consultant for govt share sale in banks, insurance cos

Indian News       Nov 23, 2020

New Delhi: The Department of Investment and Public Asset Management (DIPAM) is scouting for a consultant to assist it in the minority and strategic stake sales in banks and insurance companies. The consultant will be appointed for one year, which could be extended by 2...