Page 17 - Aathira Varier

Tepid vehicle sales, competition weigh on motor vehicle insurance premiums

The overall motor insurance premium stood at Rs 89,405.56 crore in the April-February period of FY25

IPL sum insured drops significantly due to steep rise in premiums

In 2024, the total insurance cover taken against the IPL was Rs 10,000 crore. Broadcasters, organisers, franchises, and sponsors had taken insurance for Rs 6,000 crore

Terrorism insurance premiums likely to fall up to 15% from April 1

The maximum limit of indemnity for insurance of sabotage and terrorism risk is decided by the pool underwriting committee, where the initial capacity was Rs 200 crore per location

Edelweiss Life Insurance likely to break even by FY27: MD & CEO Sumit Rai

The private sector insurer has been incurring losses and remains reliant on capital infusion from its Indian parent, which in FY25 infused Rs 200 crore into the company

Prudential partners HCL's Vama Sundari for standalone health insurer

This marks Prudential's second foray into insurance business and comes close on the heels of the Indian government allowing 100 per cent foreign direct investment (FDI) in the sector

Bajaj Finance elevates Anup Kumar Saha to managing director from April 1

Current managing director, Rajeev Jain, will become vice-chairman in the capacity of an executive director for a period of three years with effect from April 1, 2025

UK-based Prudential Plc to set up health insurance JV with HCL Group

Prudential Group Holdings Ltd, UK Subsidiary of Prudential Plc will own 70 per cent stake in the venture while Vama will hold the remaining 30 per cent

Outward remittances under Reserve Bank of India's LRS drop 8.6% in Apr-Jan

In the April-January period of FY25, the largest segment - international travel segment slipped marginally to $14.75 billion, from $14.95 billion in the year-ago period

Former SBI & LIC chiefs among new members of Irdai's advisory panel

The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval

LIC to announce acquisition in health insurance firm by Mar 31: CEO Mohanty

LIC MD & CEO Siddhartha Mohanty said a decision on acquiring stake is likely by March 31, but he didn't disclose the health insurer's name

Rising micro loan stress: Lenders tap digital debt collection platforms

Spocto X and Credgenics are end-to-end debt collection platforms focused on digitizing the entire collection process

RBI awarded digital transformation Award 2025 for digital initiatives

The awards committee noted how these digital initiatives have reduced the use of paper-based submissions, thus transforming RBI's internal and external processes

Valueattics Reinsurance set to become India's first private reinsurer

So long GIC Re, a public-sector entity, was the only player in the field

Rupee gains for third straight day; forex reserves surge $15 billion

The rupee gained 0.58 per cent against the dollar this month, while weakened 1.6 per cent in 2025

Patanjali buys majority stake in Magma General Insurance for Rs 4,500 cr

Magma General Insurance, with presence across motor, health, property, and other commercial lines, reported a gross written premium (GWP) of Rs 3,295 crore in 2023-24 (FY24)

Slowdown in health and motor segment drag non-life premiums in Feb

According to General Insurance Council data, general insurers, who operate in multiple business lines, witnessed about 5 per cent YoY drop in premiums to Rs 17,399.3 crore in February

Insurers likely to prefer bond forwards over forward-rate agreements

Irdai allows insurers to hedge interest rate risks with bond forwards

Life insurers' new business premium growth drops 11.6% in February

LIC's weak performance drags overall premium growth of the segment

Several hits, few misses in Debasish Panda's 3-year tenure as Irdai chief

Irdai under Panda moved to principle-based regulation from rule-based regulation

Rupee sees worst fall in 2 weeks to close at 87.34 against US dollar

The Indian unit was the worst-performing Asian currency on Monday. The rupee has depreciated by 4.5 per cent in the current financial year (2024-25)