A Miracle Called Insurance

Recently, I went to give a lecture on Insurance at a local school in Muscat. The lecture was, in fact, intended to tell basics about insurance. All went well. Couple of days later, I received this following mail from a girl called Ms. Priya. This girl has asked a very innocent question. The answer tests our understanding of Insurance. I am imperfect. However, I tried my best to answer her.

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Refineries denied insurance over Iran crude

MRPL and Chennai Petroleum Corporation are facing a crisis situation with reinsurers stating that their coverage will not be available to any company processing Iranian crude. While both these refiners process Iranian crude oil, Chennai Petroleum Corporation is worse affected as the Iranian oil companies have a 15% stake.

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General Insurance: Reliance Capital in talks for stake sale in general insurance arm

Financial services major Reliance Capital group has begun talks to sell 26 per cent equity in its general insurance arm to a foreign partner, and is open to selling further stake in life insurance and mutual fund units. “We are in talks for sale of 26 per cent stake in general insurance business to a foreign strategic partner,” Reliance Capital CEO Sam Ghosh told in an interview.

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