Private insurance companies lead growth of new biz premium

Private insurance companies led the growth of new business premium, as the life insurance industry saw a rise of around 15.55% in the current financial year compared to the previous year

Insurance industry seeks hike in tax exemption limit

Government should raise tax exemption limit for health insurance and introduce fiscal measures to help increase its penetration, say industry officials.

Women insurance

Regulation hurdle delays life insurance product clearances

The domestic insurance industry is concerned about the slowing speed of product clearance in the life insurance segment.

XL Catlin applies for reinsurance license in India

XL Catlin today announced it has begun the licensing process to establish a reinsurance branch in India. The decision to pursue market entry into India aligns with XL Catlin's strategy of establishing

Mahindra Insurance Brokers – First Insurance Broking Company in the World to Achieve the Global Benchmark

Mahindra Insurance Brokers Ltd. (MIBL) has been appraised and rated at Maturity Level 3 of the People Capability Maturity Model (People-CMM), thus becoming the first insurance...

PSU general insurers outpace private players in premium collection

State-owned general insurers led by New India Assurance have outpaced their peers in private sector in premium collection, though marginally, by recording 12 per cent growth in the first nine months o

Irdai releases draft on agent commission

New norms can have some impact on sales of insurers as many of them were giving commissions as high as 35-40% for first year.

CBI arrests Branch Manager of United India Insurance company

CBI today arrested a senior branch manager of United India Insurance Company from Ghazipur in Uttar Pradesh for allegedly accepting bribe of 10 per cent of the claim amount.

Women insurance

LIC profit jumps 10.4% in FY15, pays Rs 1,804.4 cr to govt

A whopping 25 per cent rally in the equity markets boosted the net profit, or valuation surplus in the official language, of Life Insurance Corporation by 10.4 per cent in 2014-15 at Rs 36,087 crore.

insurance policy

Telangana starts recognition of e-Motor Insurance policies

The Telangana government today started the recognition of 'e-Motor Insurance policies' in the state, in collaboration with the Insurance Regulatory and Development Authority of India and the Insurance

insurance policy

FDI cap hike sees inflow in JVs; $1billion likely in 2016

The long pending demand of insurance players for raising the FDI cap to 49 per cent was fulfilled this year leading to greater flow of foreign funds into India's private JVs and the move is expected t


IRDAI extends deadline for micro insurance products till March 31

The Insurance Regulatory and Development Authority of India (Irdai) today said the existing micro insurance products will continue to be on offer till March 31, 2016.


FDI worth Rs 6,192 cr in insurance cos awaits clearance: Govt

According to Insurance Regulatory and Development Authority of India (IRDAI), the total FDI in insurance sector as on March 31, 2015, was about Rs 8,031 crore

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Chennai floods: Insurers look at Rs 200 cr claims for 8 private jets

Chennai floods: General insurance companies are likely to receive claims worth around Rs 200 crore from the owners of eight corporate jets that have been partly damaged by recent floods in Tamil Nadu.

Tamil Nadu floods: General insurers receive claims of over Rs 2,500 cr

Non-life insurers have so far received 10,000 claims valued at Rs 2,500 crore arising out of the Tamil Nadu floods, a top insurance official said today.

Irdai to launch portal for health insurance plans information

The portal will be having all the information like treatment facility, cost of treatment and cost of claims among others relating to the 35,000 hospitals which are registered by Irdai-promoted Insuran

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Tamil Nadu floods could cost insurers over Rs 1,000 crore

While the earlier deluge in Tamil Nadu, which started on November 8, has already resulted in claims of around Rs 500-600 crore, the recent torrential rains could cause far more damage, insurers point

Chennai rains

New investment norms: IRDA may bring clarity on instruments, procedures

Timing crucial as pressure builds on insurers to invest in tier-I bonds of banks

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Govt extends RuPay card usage condition to 90 days regarding insurance claim

Under Pradhan Mantri Jan Dhan Yojana (PMJDY), RuPay Debit Card, with an in-built accident insurance cover of Rs 1 lakh, is provided to account holders. About 16.54 crore RuPay cards have been issued s

Global insurance review 2015 and outlook: Narendra Modi reforms push a booster shot, says Swiss Re

Business and consumer sentiment in India have improved significantly on expectations of a strong push towards economic reform and liberalization by Prime Minister Modi.

LIC employees agree for 15% salary hike, 5-days week

The management of Life Insurance Corporation (LIC) and the unions representing around 1 lakh employees of the insurance behemoth have agreed on a 15 per cent wage hike, which will be effective from Au

Bupa to Pay Rs 191 Crore to Max India to Raise Stake in Max Bupa by 23 Percent

Max Bupa Health Insurance (Max Bupa) today announced that its foreign parent Bupa has executed agreements to acquire an additional 23% stake in Max Bupa...

Make Your Diwali a Maxima Diwali with Exide Life Insurance

This festive season celebrate with Exide Life Insurance, by gifting your dear ones a secured future.

Future Generali India aims to grow Health Insurance Premium by 50% in next 2 years

General insurer Future Generali India Insurance aims to grow by 50%, its health insurance premium from its retail business in the next two years, as it plans to launch new products and expand its agen

New Irdai norms to provide clarity for sector

The Insurance Regulatory Development Authority of India (Irdai) came out with the guidelines on Indian control and management, which can offer more clarity for the insurance sector.


Max Life Insurance launches ‘Monthly Income Advantage Plan’

Max Life Insurance has launched its new product -‘Max Life Monthly Income Advantage Plan’ – a traditional, participating and money back life insurance plan...

IRDAI issues guidlines on FDI in insurance firms

IRDAI issued guidelines to bring in more clarity on the issue of compliance with the manner of Indian-owned and-controlled companies.

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