Insurance
Irdai asks insurance companies details of social sector business
Regulator Irdai has asked insurance companies to file details of their business in the rural and social sectors, a move aimed at checking if they are fulfilling their obligations in these two areas.
Reinsurance Group gets initial nod to set up India branch
US-based life and health reinsurer Reinsurance Group of America (RGA) has received the first level approval regulator Irdai to set up a branch in the country, a company official said today.
New ways to lower investment risk seek to propel climate action
As small-scale farmers around the world seek to cope with climate change by adopting drought-resistant crops or methods to capture and store water, finding the money can be a problem, and interest rat
IndiaFirst Life, Star Health launch combi plans
IndiaFirst Life Insurance has tied up with Star Health Insurance to introduce Star First Combi Plans – combination of health and life insurance plans.
Chinese insurers run ‘Titanic’ risks for titanic returns
Years of breakneck growth for China's top insurers has been partly fuelled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing
After SK Roy exit, Govt likely to pick new LIC chief by next month
Government will soon start the selection process of new LIC chairman following the premature exit of the incumbent, S K Roy, and complete the whole exercise by the next month.
US bank offers cyber insurance against wire-transfer fraud
Grandpoint Bank on Tuesday introduced cyber insurance policies to reimburse business customers for fast-growing wire-transfer fraud schemes.
Listing of PSU insurers to happen one-by-one: Shaktikanta Das
The process of listing of four public sector general insurance companies will begin one by one and "lot of action" is expected on the front in next few months, a top official said today.
LIC willing to be partner in NIIF: Chairman SK Roy
Country's largest insurer LIC today said it is willing to participate in India's maiden sovereign wealth fund NIIF as the state-owned company's own core focus is also on infrastructure investment.
IRDAI’s e-commerce proposal to boost online insurance sales
Insurance companies on Saturday said the proposed guidelines on selling and servicing of policies through e-commerce platform are expected to boost online sales of insurance products.
IRDA mulls introducing ‘Title Insurance’; sets up panel
Aiming to provide cover to people in case of defective property titles and related issues, insurance regulator IRDAI today...
Cheaper insurance policies for investors soon? Irdai e-policies move may help
Insurance Regulatory and Development Authority of India (Irdai) has come out with the exposure draft on selling and servicing insurance policies through the e-commerce platform.
Don’t use force to obtain discharge voucher: IRDAI to insurers
Regulator IRDAI today directed general insurance companies not to use coercion or force to obtain discharge vouchers or receipts of settlement of claims, from insured persons.
Jharkhand government to launch medical insurance for BPL families
Stating that dialysis facility would be started in eight districts within the next one-and-a-half month, Das said BPL families earning Rs 72,000 per annum would be provided free dialysis...
Ships get relief from piracy insurance premium at Indian ports
Ships entering or leaving Indian ports are not required to pay a piracy-related additional insurance premium now, a move which will help thousands of the vessels.
HDFC ERGO to turn into third largest general insurer after Rs 551cr L&T unit buy
HDFC ERGO General Insurance said on Friday it has acquired L&T General Insurance, a wholly owned subsidiary of Larsen & Toubro, reports fe Bureau in Mumbai.
HDFC ERGO to acquire L&T General Insurance for Rs 551 crore
HDFC ERGO, non-life insurance arm of housing finance major HDFC, today said it will acquire L&T General Insurance for Rs 551 crore in an all-cash deal.
National Insurance gearing up for share sale
Public sector National Insurance Company (NIC) is gearing up for its maiden share sale either through strategic divestment or initial public offer (IPO).
Terminally ill can’t be denied insurance claim: HC
In a landmark judgement, the Punjab and Haryana High Court has ruled that the family of a terminally-ill person, who decides to stop treatment against medical advice and dies, cannot be denied insuran
LIC eyes doubling policy sales at 4 crore; to hire 2 lakh agents
Giving itself an ambitious target, insurance behemoth LIC aims to double its business in terms of new policy issuance to four crore in the current fiscal and will hire two lakh new agents to augment i
LIC eyes doubling policy sales at 4 crore; to hire 2 lakh agents
Giving itself an ambitious target, insurance behemoth LIC aims to double its business in terms of new policy issuance to four crore in the current fiscal and will hire two lakh...
General insurers’ April gross direct premium grows 12%
General insurance companies started the current financial year on a positive note with gross direct premium in April growing by around 12% year-on-year (Y-o-Y).
LIC’s Gulf arm tops overseas chart, chips in with 80 pct income
LIC has had a good run in the Gulf countries with its Bahrain-based arm LIC International that manages the GCC markets becoming the best among its eight international subsidiaries in terms of new busi
ULIPs: IRDA not to go ahead with plan to mandate 25% investment in GSecs
The Irdai proposes not to go ahead with an earlier proposal to mandate that 25% of the corpus of unit-linked insurance plans (Ulips) be invested by insurers in government securities.
Irdai may allow insurers to invest in banks’ AT-1 bonds
The additional tier-1 (AT-1) bond market, which has been witnessing subdued demand, is likely to see some activity with the possibility of the Insurance Regulatory Development Authority of India (Irda
Chennai floods didn’t dampen books of all insurance firms
Despite receiving claims of more than Rs 6,000 crore form floods in Tamil Nadu last year, insurance companies reported mixed results in the previous financial year.
General insurers’ premium income grew 13.8 per cent in FY16
Private sector companies saw premium income of Rs39,701.12 crore in the last financial year against Rs35,090.06 crore in FY15.
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