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Bharti AXA General Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, has launched its crop insurance campaign – ‘Bohot Zaroori Hai’ – for farmers in Maharashtra and Karnataka to encourage them about their yield protection and financial security. Fasal Ka Bima Bohot Zaroori Hai PMFBY Bharti AXA The company has secured the mandate to insure the farmers in Maharashtra and Karnataka for a period of three years under the Pradhan Mantri Fasal Bima Yojna (PMFBY), which provides them protection for the losses occurring owing to uncertainty and unfavourable weather vagaries resulting in yield deprivation on the field. The campaign ‘Bohot Zaroori Hai’ is aimed at making the farming communities aware about the relevance and significance of crop insurance that mitigates the rural distress caused by crop failure or damage due to factors like unseasonal rains, monsoon failure, storms, floods, pests

A new Brand “KeyLeasing” is grooming in the market of automobile leasing. KeyLeasing provides you the key to drive towards your dreams. This venture is the brainchild of Mr. Jitender Gauri, supported by Mr. Sanjay Gupta, Dr. Praveen Gupta and Mr. Amit Gupta. KeyLeasing tries to fulfill all your needs related to automobiles such as consultation, test drive, procurement, insurance, maintenance, and documentation. The brand follows the policy of “Retain it or Return it” which differentiates KeyLeasing from other brands and facilitates best to their customers. (Left) Mr. Jitender Gauri, (Middle) Mr. Sanjay Gupta and (Right) Dr. Praveen Gupta Under the lease agreement, you have the option of driving a brand new car of your choice for a fixed period of time in exchange for a pre-determined lease and, at the end of the contract, you have the option of either keeping or returning it. KeyLeasing focuses on 3 F’s: Flexibility – To choose a brand-new car/superbike that best suits your driving and

Mumbai, July, 2020. National Pension System (NPS), a flagship defined contribution pension scheme of the Government of India, has released its subscription numbers for the first quarter of 2020-21. The scheme’s subscriber base has registered a growth of 30% whereby 1.03 lac individual subscribers from the private sector and 206 corporates were enrolled during the 1st quarter, resulting in a total of 10.13 lac corporate subscribers in the age group of 18 to 65 years. Among the 1,02,975 subscribers registered, 43,000 have routed their subscription through their employer/ corporate while the rest have voluntarily enrolled in the scheme. After the onset of COVID-19, employers have adopted or are willing to adopt deeper measures to ensure adequate support to employees in terms of their financial well-being. As per a recent survey of Willis Towers Watson, over 20 percent of employers in the private sector aim to educate employees on retirement adequacy and available savin

HDFC ERGO, the country’s third largest non-life insurance provider in the private sector, announced that ‘Home Care Expenses benefits will now be made available to all their existing health insurance policyholders. This feature will cover COVID-19 treatment costs for those seeking it within the comfort of their own homes. The cover will cushion individuals for COVID-19 who have been advised to undergo treatment at home by a medical practitioner or have been instructed to monitor the patient’s health actively while taking the treatment at home. In light of the pandemic, which continues to grip India, the shortage of beds and unavailability of medical staff across top cities have become major challenges for hospitals. Hence, patients find it more convenient to seek treatment at home rather than staying in a long-term healthcare facility. In light of this, HDFC ERGO’s “Home Care Expenses” benefit will provide cover against expenses for diagnostic tests undergone at home or at diagnostics

AXA XL announced that Sean McGovern has been appointed as CEO UK & Lloyd’s market subject to regulatory approval. Mr. McGovern had been performing the role on an interim basis for some months and has now been confirmed on a permanent basis. In addition to serving on the Leadership Team of AXA XL having joined XL Group in 2016, Mr. McGovern has led the claims, legal & compliance and regulatory & government affairs functions. He also played a key role in the merger of AXA Corporate Solutions, AXA Matrix, AXA Art and XL Catlin and the formation of AXA XL. Mr. McGovern takes on the role with an in-depth understanding of AXA XL’s global business and strong reputation within the London and Lloyd’s market. Before joining XL Group, Mr. McGovern held various senior positions at Lloyd’s of London, having joined in 1996 from private practice at Clifford Chance. In 2002, he was appointed a Director and Lloyd’s General Counsel, with global responsibility for Lloyd's legal, regul

Cyril Amarchand Mangaldas acted as the legal counsel to QBE Insurance Group Limited (QBE) in relation to Paytm’s acquisition of Raheja QBE General Insurance Company Limited (Company). As part of the Transaction, QBE Holdings (AAP) Pty. Limited and QBE Asia Pacific Holdings Limited (collectively, QBE Entities) have entered into definitive agreements to divest their entire shareholding of 49% in the Company to QorQl Private Limited (Buyer), a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm (owned by One97 Communications Limited). The Transaction involves 100% acquisition of the Company by the Buyer, in which balance 51% of the shareholding is proposed to be sold by Prism Johnson Limited, the joint venture partner of the QBE Entities. The Transaction is subject to the approval of the Insurance Regulatory and Development Authority of India (IRDAI). The General Corporate team was led by Rishi Gautam, Partner; with support from Neham Tayal, S

MUMBAI/NEW DELHI: July 8, 2020: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today announced the launch of its first-of-its-kind Health and Life Secure, an inclusive protection solution with triple benefits of life cover, hospitalization and critical illness amid COVID19. Health and Life Secure is an all-in-one protection solution that offers financial security and comprehensive health and critical illness coverage as a key differentiator in the domestic insurance market. ‘’In view of the unprecedented environment and the fear arising out of the Corona virus infection and disease, Health and Life Secure is the need of the hour that addresses customers’ requirements of life protection, hospitalisation and critical illness benefits. The unique proposition of this all-embracing solution is that it offers financial security and support for managing health and critical

Hyderabad , Tuesday, July 07, 2020 : In the face of an ongoing economic crisis, Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail giant Future Group and global insurer Generali, announced promotions, annual increments & variable payouts to all its employees. The company declared that there will be no layoffs of its employees during these unprecedented and volatile times. They also made provision of an immediate relief fund of INR 50,000 to each of its business-active agents and their families if they are tested positive for COVID-19. With over 125 branches across India, the company has decided not to compromise on hiring and plans to recruit employees as per the business requirement. During this lockdown phase alone, FGII has onboarded over 70 employees across various levels using various digital tools for engaging, interviewing, enrolling, and inducting. The company will continue to hire as in any other year.

Mumbai, 6th July’20: India's homegrown financial technology platform Paytm (owned by One 97 Communications Limited) along with Vijay Shekhar Sharma is set to acquire Mumbai based private sector general insurer Raheja QBE. The acquisition is subject to customary conditions, including approval from the Insurance Regulatory and Development Authority of India (IRDAI). Raheja QBE is owned 51% by Prism Johnson and 49% by QBE Australia. Paytm is set to acquire both stakes and would own 100% of the company. All employees of Raheja QBE would continue working at Mumbai and other locations. This strategic acquisition is through QorQl Pvt. Ltd, a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm. After enabling millions of Indians with services of homegrown Payments bank, it is now setting sights on democratising general insurance services. India's Paytm has a large consumer base for it's digital payments & financial services offer

New Delhi, J uly 6, 2020 : In its endeavor to make the Atal Pension Yojana attractive and to benefit 2.28 Crore subscribers enrolled under the scheme, PFRDA has asked all banks to process upgrade/ downgrade of pension amount requests of APY subscribers throughout the year with effect from 1st July 2020, however; once in a financial year. This arrangement will enable the APY subscribers to increase/decrease their pension plans as per their changed income levels and capacity to pay APY contributions, which is very important to continue contributions in the scheme till 60 years. Earlier this facility was available only during the month of April of every year. Apart from the above, from 1st of July, 2020 auto-debit of APY contributions has also started ,which was stopped till 30th June, 2020 due to PFRDA’s circular issued on 11th April, 2020 for providing relief to the APY subscribers from out-break of Covid-19. As per current arrangements, if all the pending APY contributions due between

Mumbai, July 03, 2020: Liberty General Insurance Ltd. (LGI), in an industry first move, today launched an innovative service ‘Liberty Assure’ as a part of its existing Private Car Package Policy, under the Regulatory Sandbox approval received from IRDAI. This innovative offering is one of its kind in the industry where the customer will not have to bear the cost of ‘Compulsory Deductible’ for every claim at NO EXTRA PREMIUM to avail this service at the time of raising a claim/loss. The new feature will also give customers even more control over their insurance costs, thus enabling them to save more. Additional benefits under this feature include the Service Warranty, which ascertains that Peace of Mind comes standard for the customers. It covers any defects arising from the repair of an accidental vehicle. The Company’s preferred provider network (PPN) workshop will make such loss good by providing the required repair/replacement of the defect at no additional cost. The customer

COVID-19 Diagnosis Cash Benefit/Hospitalisation Cash Benefit amount – Rs. 5,000 & Rs. 10,000 Hospitalisation Frequency – Cash benefit for 2 or 4 times of hospitalisation in a year Option to choose any one of the proposed benefits categories and the premium would be charged accordingly IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, has associated with BOB Financial Services Limited (BOB Financial), a wholly owned subsidiary of Bank of Baroda, to offer a unique group insurance covering that provides financial support upon hospitalisation or on COVID-19 diagnosis. BOB Financial has a range of credit card customers who will be able to opt for this insurance benefit by IndiaFirst Life, at the click of a button. Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Limited, said, “We are excited to connect with and offer our services to Bank of Baroda Credit Cardholders. Through this alliance, customers who opt for

Hyderabad / Delhi, July 2nd, 2020: Edelweiss General Insurance (EGI), India’s first cloud native insurer, has partnered with PolicyBazaar, India’s leading web aggregator, to offer Edelweiss SWITCH , an on-demand driver-based insurance, innovative, app-based Motor OD floater policy . Edelweiss SWITCH , launched under IRDAI’s Regulatory Sandbox, allows vehicle owners to SWITCH their motor insurance ON and OFF and covers multiple vehicles under a single policy. This partnership will enable vehicle owners across India to easily buy this policy on the PolicyBazaar platform. Shanai Ghosh, ED & CEO, Edelweiss General Insurance, said, “We are very happy to partner with PolicyBazaar and we believe this partnership will help expand our reach digitally and build deeper connections with customers seeking smart motor insurance solutions. Edelweiss SWITCH is extremely relevant in the current context. It has been developed with the specific needs of today’s customer in mind where you may

With the passage of time, every industry in India has undergone a major transformation. Health insurance is no exception. The skyrocketing cost of medical treatment and the changing lifestyle of people has led to a rapid increase in the number of health insurance customers in the last few years. In today’s time, having the right health insurance policy by side is nothing less than a boon. As a matter of fact, health insurance is the ultimate financial and emotional savior an individual can depend on during an unfortunate medical emergency, be it due to a sudden accident or an illness. If ready to take your first step towards the world of health insurance, note that it is important to expand your knowledge level before taking a decision. First and foremost, learn that the health insurance sector in India is laden with unnumbered health insurance companies and countless health insurance policies. At first, looking for a health insurance policy doesn’t come across as easy. However, wit

Mumbai, June 30 th 2020: Cholamandalam MS General Insurance Co. Ltd., today, has announced the retirement of Mr. S. S. Gopalarathnam as the Managing Director and Mr. V. Suryanarayanan, currently President and COO, will take over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd., effective 1st July 2020. Mr. S. S. Gopalarathnam retires as Managing Director of Cholamandalam MS General Insurance Co. Ltd. on 30th June 2020 after a long and distinguished career spanning an incredible 41 years. He joined the Murugappa Group in 1979 as a Management Trainee at TI Cycles and served in various capacities in the finance and marketing functions across TI Cycles, TI Miller and TPI till 1998, when he was made the General Manager -Tubes. Consequent to the retirement of Mr. S. S. Gopalarathnam, Mr. V Suryanarayanan , currently President and COO will take over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd., effective 1st July 2020. Mr. S. S. Gopalara

Cholamandalam MS General Insurance Co. Ltd., today, has announced the retirement of Mr. S. S. Gopalarathnam as the Managing Director and Mr. V. Suryanarayanan, currently President and COO, will take over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd., effective 1st July 2020. Chola MS – Mr. V Suryanarayanan taking over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd. Mr. S. S. Gopalarathnam retires as Managing Director of Cholamandalam MS General Insurance Co. Ltd. on 30th June 2020 after a long and distinguished career spanning an incredible 41 years. He joined the Murugappa Group in 1979 as a Management Trainee at TI Cycles and served in various capacities in the finance and marketing functions across TI Cycles, TI Miller and TPI till 1998, when he was made the General Manager – Tubes. Consequent to the retirement of Mr. S. S. Gopalarathnam, Mr. V Suryanarayanan, currently President and COO will take over as the Managing Director of Cho

PRAGUE, CZECH REPUBLIC – Media OutReach – 29 June 2020 – Covid-19 pandemic badly hit global economy and currency market. However, Chinese Yuan has back to stability, fluctuating within 6.84 to 7.09. Apparently, China plays utmost important role in the economy of US. According to US-China Trade Council in year 2018, data shows Michigan had exported $3.6billion value of goods to China whereas import has reached nearly $10.4billion, but transaction volume decreased to $8.7billion since 2019. Besides, Trump President emphatically accused China for the pandemic, which ushered in level of unemployment approaching in Great Depression and even demanding financial compensation from China on the pandemic issue. This is intensifying relations between the two countries, and become a threat to stock market and foreign exchange. However, BIS (Liquidity Provider, LP) provides another investment option, which is the world's first shared-liquidation system. Broker Investment S.R.O., or BIS, has int

Ranked amongst Top 50 Best Workplaces for the 4th consecutive year of participation Moves up 11 places from 35 in 2019 to 24 current Rank in 2020 Also recognized as one of the top 25 ‘Best Workplaces in BFSI (Banking, Financial Services and Insurance Sector)’ Max Life Insurance Company Ltd. (“Max Life”/”Company”), announced that it has been ranked 24th amongst Indias Top 100 Great Places to Work. The annual survey is the benchmark when it comes to ranking Indias best employers with participation from over 1000 companies. Of this, 83 companies were from the BFSI sector this year. Improving on its last years performance, Max Life moved up 11 places from its rank of 35 in 2019 to its current position, making it the only life insurer to be recognised amongst India’s ‘Top 100 Great Places to Work For’ by Great Place to Work Institute (“GPTW”) in its 2020 study. ‘India’s Best Companies to Work For’ Study evaluates organisations on the five dimensions of building a high-trust, high-performanc

National Pension System (NPS) was introduced by the Government for its new recruits wef 01.01.2004 and subsequently almost all the State Governments has adopted NPS for their employees. NPS can be voluntary subscribed by any citizens of India (resident/non-resident/overseas) and corporates/employers have adopted NPS as a retirement benefit scheme for its employees. Subscriber contributing to NPS enjoys the following tax benefits: – Tax Benefit 1: Deductions on subscriber’s contribution (within 1.5 lac limit) NPS contributions are eligible for tax deduction u/s 80 CCD(1) of ITax Act (upto 10% of Salary (Basic + DA) or 20% of Gross Income for others) within the overall limit of Rs 1.50 Lacs Tax Benefit 2: Additional deduction on subscriber’s contribution upto Rs. 50k (above 1.5 lac limit) Subscriber is allowed an additional tax deduction for contribution made to NPS u/s 80CCD 1(B) of ITax Act subject to a maximum of Rs. 50,000/-. This deduction is over and above the Rs. 1.5 lac limit p

New Delhi (June 22, 2020) – Prudent Insurance Brokers Private Limited (PIBL) and Risk and Insurance Management Society ( RIMS ) , today, announced a multi-year strategic partnership to support the Indian risk management community. The alliance is set to deliver thought-leading content around risk and insurance management to India’s thriving business community. Effective immediately, PIBL and RIMS will begin the development of a series of webinars and Masterclasses that address the country’s most pressing business risks, challenges, as well as opportunities for risk and insurance managers to support organizational growth, innovation, and strategic decision-making. Additionally, the two entities will publish market analysis reports, white papers, and collaborate on future in-person events. “ We placed more than $250M premiums and have grown at a CAGR of 30%+ in the last 10 years purely based on thought leadership, risk-based advisory, and differentiated service delivery. As next le