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COVID-19 led to rise in underwriting losses for non-life insurers in FY20: IRDAI Annual Report The underwriting losses of the general insurance industry increased by 6.27 percent YoY in FY20 to Rs 23,720 crore. February 10, 2021 / 08:10 PM IST The onset of the coronavirus outbreak led to a rise in the underwriting losses for the general insurance companies, showed data from the IRDAI Annual Report 2019-20. The report said that the underwriting losses of the general insurance industry increased by 6.27 percent year-on-year (YoY) in FY20 to Rs 23,720 crore. The public sector insurers’ underwriting losses increased to Rs 18,741 crore from Rs 18,533 crore in the year-ago period. ....
Chubb Global Markets Creates New Energy Underwriting Team LONDON, Feb. 8, 2021 /PRNewswire/ Chubb today announced the creation of a new energy team in Chubb Global Markets (CGM) that will underwrite and serve as a centre of excellence for all large corporate energy customers in EMEA, Asia Pacific and Latin America. CGM comprises Chubb s London market wholesale and specialty business including the company s Lloyd s platform. Middle market energy customers risks will continue to be underwritten and serviced locally. The team, which is based in London, is led by Andrew Brown, the newly-appointed Head of Energy CGM. Andrew brings more than 15 years of experience to the role, most recently as Chief Underwriting Officer, Global Energy Chubb Overseas General (COG). He joined Chubb 14 years ago and has held positions across upstream and downstream energy within CGM and has been based in both London and MENA. ....
Government of India has announced the sale (re-issue) of Government Stock through auctions to be held on January 22, 2021. The amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), include 3.96% GS 2022 ( Rs 2,000 crore), 5.15% GS 2025 (Rs 11,000 crore), 5.85% GS 2030 (Rs 8,000 crore) and 6.80% GS 2060 ( Rs 6,000 crore). The underwriting auction will be conducted through multiple price-based method on January 22, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 9.00 A. M. and 9.30 A. M. on the date of underwriting auction. ....
Press ReleaseJanuary 21, 2021 - N° 02 SCOR develops an innovative biometric risk calculator to improve the underwriting process Though the Life insurance underwriting process is simple and straightforward ....