Page 22 - Latest Updates on IRDAI
Non-life insurers' gross premium income rises 24% to Rs 21,327 cr in April
The non-life insurance companies had a gross premium business worth Rs 17,251.10 crore in April 2021
 "Non-life insurers' gross premium income rises 24% to Rs 21,327 cr in April")
LIC listing to result in increased transparency of its operations: Moody's
"We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO," Moody's said.
 "LIC listing to result in increased transparency of its operations: Moody's")
IRDAI suggests new modules for low-income group, small businesses
The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi MI (Micro Insurance) products.
 "IRDAI suggests new modules for low-income group, small businesses")
Insurers allowed exposure to fin, insurance upto 30% of investment assets
Accordingly, the limit of 25% of investment assets stands revised to a limit of 30% of investment assets
 "Insurers allowed exposure to fin, insurance upto 30% of investment assets")
Finally Irdai promotes an official as per Telangana High Court order
In line with the Telangana High Court's order but with delay, the Insurance Regulatory and Development Authority of India (IRDAI) has promoted S.N. Jayasimhan as the Chief General Manager (CGM).
Buy optimal mix of base plan and super top-up to check cost of health cover
If your insurer has hiked the premium rate excessively, consider porting
 "Buy optimal mix of base plan and super top-up to check cost of health cover")
New business premium income of insurance cos up 13% at Rs 3.14 trn in FY22
Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal
 "New business premium income of insurance cos up 13% at Rs 3.14 trn in FY22")
Irdai may go for 100% FDI in 'new' insurance biz to expand scope of sector
In Budget FY21, Finance Minister Nirmala Sitharaman had announced raising the cap of FDI to 74 per cent for insurance companies with effect from August 2021
Top headlines: India's FY21 CEO earnings, Russia's suspension from UNHRC
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up business. More on that story in our top headlines.
 "Top headlines: India's FY21 CEO earnings, Russia's suspension from UNHRC")
Irdai seeks to remove Rs 100 cr entry cap for new players in insurance biz
Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players
 "Irdai seeks to remove Rs 100 cr entry cap for new players in insurance biz")
Govt puts Oriental Insurance's solvency ratio at a dismal 0.69
The number was flagged in a recapitalisation advice, sent by the department of financial services in the finance ministry to the company this week.
A premium on execution: Meet Debasish Panda, chairman of Irdai
At the DFS, Panda, 60, created a group of officials to monitor speedier claim settlements for deaths due to Covid-19
 "A premium on execution: Meet Debasish Panda, chairman of Irdai")
Debasish Panda takes charge as Irdai chairman for a three-year period
The position of Irdai chairman was vacant for a period of over nine months, ever since Subhash Chandra Khuntia demitted office in May 2021
 "Debasish Panda takes charge as Irdai chairman for a three-year period")
Former finance secretary Debasish Panda takes charge as Irdai chief
The appointment of the Irdai chairman comes nearly nine months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year
Hospital regulation, insurance penetration key tasks for new Irdai chief
Debasish Panda, former secretary, Department of Financial Services, to the top position of the Insurance Regulatory and Development Authority of India (Irdai) for three years
Govt appoints ex-financial services secretary Debasish Panda as IRDAI chief
The appointment of IRDAI chairman comes nearly 9 months after the vacancy was created following Subhash Chandra Khuntia completing his term in May last year
Top headlines: RBI setback for Paytm Payments Bank; IRDAI gets a new chief
Here are the top headlines on Friday
 "Top headlines: RBI setback for Paytm Payments Bank; IRDAI gets a new chief")
Term is not enough, buy personal accident insurance cover too: Expert
These policies prove especially useful in case of a disability
 "Term is not enough, buy personal accident insurance cover too: Expert")
Irdai wants insurers at par with banks on legal recourse for surety bonds
The finance minister in her Budget speech this year had said that surety bonds can be used as a substitute for bank guarantees for government procurement
Appoint two-three key people as life policy's nominees, say analysts
Buyers should look it up to see which insurers have been quicker in settling claims.
 "Appoint two-three key people as life policy's nominees, say analysts")