Insurance Industry News, Insurance News, Insurance Companies, Indian Insurance Industry

SBI Life posts net profit of Rs 199 cr in first 9 months

Assets Under Management (AUM) grew by 111.5 per cent, over the corresponding period last year, to Rs 24,589 crore.

Bond yields soften ahead of FRB sale

After hitting a 15-month high of 7.73% last week, bond yields softened somewhat on Monday with the week scheduled to see a smaller supply of government paper.

Bajaj Finserv Q3 net jumps three-fold

Bajaj Finserv recorded nearly three-fold jump in net profit at Rs 34.88 crore for the quarter ended December 31.

LIC to surpass first premium mop-up target

Life Insurance Corporation said it is well on target of the Rs 48,000 crore first premium collection during the current fiscal. The insurance major also said it has shifted focus towards introducing more conventional products and added that it will continue to put upto 10% of its investible funds into equity markets.

Life insurers add 13 lakh agents during 2008-09

Life insurance companies have appointed around 13 lakh agents during 2008-09.

Genpact wins 3 yr contract from Max New York Life Insurance

Genpact Limited announced that it has been awarded a three year contract from Max New York Life Insurance Company Ltd.

Reliance Insurance launches 17 ULIPs

Reliance Life Insurance has launched 17 new unit-linked plans to cater to individuals of all age groups.

ING Life targeting 15 pc increase in new business premiums

Aiming to break even in the next three years, ING Life is targeting a 15 per cent increase in its new business premiums, a top company official said.

SC to examine whether murder victims can get acccident claims

The Supreme Court agreed to examine a question whether persons murdered in motor vehicles are entitled to accident insurance claims provided to those killed in road mishaps.

26/11 attacks may cost insurers Rs 500 crore

Insurance claims arising out of the Mumbai terror attacks in 2008 are estimated to wipe out about Rs 500 crore from the corpus set up by general insurers to fund such losses.

LIC, HDFC Standard & Bharti AXA draw Irda ire

Apex insurance controller Insurance Regulatory & Development Authority has said, on the rural sector front, all 21 life insurers have fulfilled their obligations, except HDFC Standard.

IndiaFirst to target tier II, III cities

IndiaFirst, a life insurance joint venture among Bank of Baroda, Andhara Bank and UK-based Legal & General, would target more of tier-II & -III cities than metros for its business expansions..

Insurers’ new biz grows 22% to Rs 55,355 cr

New businesses of the life insurance companies grew 22% to Rs 55,355 crore in the first eight months of the current fiscal as against the corresponding period last year.

Indian cos use health cover to retain employees

Undeterred by a hike in premium costs, over 40 per cent Indian companies use health care cover for employees as a tool to attract talent.

Reliance Life's new brand promise is 'All is Well'

Reliance Life Insurance has entered into an association with the makers of '3 Idiots', as per which the insurance firm will use the thought 'All is Well' -- one of the mainstay theme of the film -- to promote its products.

Life insurers report 21 pc growth

The life insurance industry clocked 21 per cent growth in total premium collection at Rs 1,20,503 crore.

Life insurers premium collection rises 21 pct

As per the data compiled by the Life Insurance Council, an industry association comprising of 22 players in the sector, renewal premiums increased by around 24 per cent to Rs 73,952 crore.

SBI gets final nod for non-life venture

Public lender State Bank of India (SBI) received final approval for its general insurance subsidiary from the regulator IRDA.

AIG is too large and needs to shrink, says its chief

American International Group's chief executive Robert Benmosche has said the insurance company is ‘too big’ and ‘complex’ to manage and needs to shrink.

Reliance Life IPO likely in Q1: Ghosh

Reliance Life expects to tap the capital market with its IPO in the first quarter of next fiscal.

Disclose commission from insurers, mutual funds: RBI to RRBs

To increase transparency, the RBI directed regional rural banks to disclose the commission they receive from mutual funds and insurers for referring their products to customers.

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