IAG exits SBI General Insurance, sells 26% stake
The stake has been sold to Premji Invest and Warburg Pincus group.
IndusInd banks on PE firms for $500-$750 mn of confidence capital
Blackstone, Apax and Carlyle among funds tapped; board seats, rights to be negotiated.
Donald Trump removes top coronavirus watchdog, widens attack on inspectors general
It was the Republican president's most recent broadside against the federal watchdogs who seek to root out government waste, fraud and abuse following his removal on Friday of the intelligence community's IG and his sharp criticism of the one who oversees the Department of Health and Human Services.
Reliance General Insurance launches coronavirus protection insurance cover
The plan has a policy period of one year and the waiting period is for 15 days before one can claim against the policy, according to a statement by the company.
General Motors temporarily halts production at Talegaon plant
The company, which has ceased to sell products in the Indian market and utilises the plant for export purposes, said suspension of production began on March 21 and will run until March 31, 2020.
UN chief welcomes adoption of resolution by General Assembly on COVID19
The resolution titled 'Global solidarity to fight the coronavirus disease 2019 (COVID-19)' was the first such document on the global pandemic to be adopted by the world organization. The UN Security Council is yet to discuss the coronavirus outbreak, even as the total number of coronavirus cases across the world crossed one million.
Govt to finalise PSU general insurers' merger by March-end
Govt plans to merging National Insurance Co, United India Insurance Co & Oriental Insurance Co by March.
Stock traders fixate on the Italian count for their next move
People are trying to divine the market bottom by studying a nation whose death toll now surpasses that reported in China.
UN General Assembly to decide on rival COVID-19 resolutions
Members have been sent two rival resolutions for consideration — and under new voting rules instituted because the global body isn't holding meetings, if a single country objects a resolution is defeated.
Covid-19 impact: Dow Jones sheds more than 1300 points in latest US stocks rout
The Dow fell as much as 10 percent during the early afternoon, but stocks rallied somewhat near the end of the session as the US Senate passed a $100 billion emergency package for free coronavirus testing, sick pay and other benefits related to the crisis.
Edelweiss General Insurance to cover quarantined patients under policy cover of coronavirus
"We have decided to cover hospitalization for not only those who have a confirmed diagnosis but also those who have been quarantined in specific facilities identified by the government," the insurer said.
Directorate General of Shipping issues advisory to ports for handling vessels
While international travel curbs have been put in place by many countries, including India, vessels will need to function as usual so that transportation of essential commodities is not hampered, the advisory said. The DGS has therefore, put in place a protocol to be followed in dealing with vessels and people on-board, to contain the spread of the disease.
Insurance cos start offering exclusive COVID-19 policies, partnering with online payment firms
Bharti AXA General Insurance has tied up with Airtel Payments Bank to launch two health insurance plans-one offering a lump sum amount of Rs 25,000 and another with daily benefit starting Rs 500 per day-to provide protection from COVID-19, a company official said.
Jagannath temple in Puri shut to general public until March 31
Bhubaneswar Municipal Corporation has identified three city hotels, Ginger Hotel, Empires and Hotel Kalinga Ashok that will offer pay for using quarantine rooms. For a sum of Rs 2500 a day, which will cover the room, three meals and two bottles of water, people can stay at these hotels for up to 14 days adhering to the quarantine protocol.
SAT allows lenders to sell Reliance General Insurance
Nippon India MF and Credit Suisse are likely to invite bids for Reliance General Insurance, whose shares are held by IDBI Trusteeship. Current foreign direct investment norms prohibit non-residents from owning more than 49% in an insurer.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service