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KRA wins Sh107m tax case against KCB insurance agent

A statement from the Kenya Revenue Authority says the taxman has collected over Sh21 billion from its Alternative Disputes Resolution (ADR) mechanism. ....

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Direct-to-consumer startup Thirty Madison targets a new customer: health plans

Direct-to-consumer startup Thirty Madison targets a new customer: health plans
Direct-to-consumer startup Thirty Madison targets a new customer: health plans
The startup, which currently has four direct-to-consumer brands, recently passed a $1 billion valuation. It plans to use the funds to market its services to a new customer: health plans.
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As investors continue to pour funds into direct-to-consumer health startups, one of them, Thirty Madison, is looking to win over a new type of customer.
The startup recently raised $140 million in funding, and plans to use a portion of that to strike partnerships with employers and payers.
In an emailed statement, CEO and Co-Founder Steven Gutentag said working with employer and payor networks would allow the company to reach more patients and expand its treatment offerings. The company didn’t disclose which, and how many, partners Thirty Madison currently has. ....

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What hotels need to know about layered insurance

A growing number of insurers have bowed out of hospitality entirely and many of those that remain are finding it easier to just say “no” than to renew policies. Layering is a multicarrier way to work around the insurance industry’s diminished capacity. ....

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Welcome To IANS Live - BUSINESS - NITI Aayog submits privatisation list, Bank of Maha, Central Bank top candidates

Sources said that the Department of Investment and Public Asset Management (DIPAM), and the Department of Financial Services (DFS) will examine the names suggested by NITI Aayog and finalise the list of possible candidates in the financial sector for privatisation this year. Peop ....

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Life insurers bank on developing industry

Life insurers bank on developing industry
22:06 | 03/06/2021
Life insurers are anticipating a rising middle-class population. Photo: Dung Minh
Fresh data from the Vietnam Insurance Association (VIA) revealed that in the first quarter of 2021, the total insurance premium revenue reached more than VND14.9 trillion ($6.5 billion), up 6 per cent over the same period of last year. In terms of non-life insurance, reinsurance firm Swiss Re forecasted that this sector will reach a value of about VND70 trillion ($3.04 billion) in 2021, up 25 per cent compared to 2020.
Yen Tran, analyst at KIS Securities commented on trends that have been prevalent for a couple of years. âThe overall insurance penetration rate in Vietnam in 2019 was 60 basis points below the average rate in emerging markets and a distance from the 9.6 per cent in advanced markets,â Tran said. âAverage insurance spending per capita was around $72 in Vietnam in 2 ....

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