Page 21 - Aathira Varier

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

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)

Govt invites applications for Irdai chief's post as Panda's term ends soon

The last day for submitting applications is April 6

Insurance cos knock on Irdai door seeking more time to implement Bima-ASBA

Insurers seek Irdai's nod for more time to implement Bima-ASBA, citing early deadline; feature allows policyholders to block premiums until underwriting is completed

Exim Bank provides input on US reciprocal tariffs impact with govt

Trump had threatened to impose reciprocal tariffs on several countries, including India, Brazil, and China. He also threatened to impose tariffs on Mexico and Canada

Insurance cos knock on Irdai door seeking more time to implement Bima-ASBA

The insurance regulator had in mid-February set the March 1 deadline for rollout of the feature, which allows insurers to take a customer's consent and block the premium amount for a period of 14 days

Individual housing finance market to grow to Rs 77-81 trn by FY30: Report

The residential properties market remains buoyant, a key driver of the housing finance industry, with an absolute growth of 74 per cent since calendar year (CY) 2019

Multi-year health insurance policy sales dip as agents' commissions drop

Irdai's new accounting norms for premium reporting has resulted in insurers revising commissions on multi-year health policies

Irdai retains obligatory cession at 4% for FY26, third year in a row

Obligatory cession is the portion of business that Indian non-life insurers must mandatorily reinsure with GIC Re

Health insurance premium growth in slow lane due to tapering demand

Change in accounting norms, sharp decline in premiums from govt. schemes have also weighed on health insurance premium growth

Irdai move on equity derivatives: Insurers gain tools to manage volatility

Irdai felt the need to permit insurers to hedge through equity derivatives

Irdai allows insurers to hedge volatility through equity derivatives

The regulator also issued guidelines aimed at providing insurers with enhanced opportunities for risk management and portfolio diversification

Delinquencies in 2W segment rise substantially in September: CRIF Highmark

Delinquency in the 31-90 DPD category increased to 4 per cent in September 2024, up from 3.3 per cent in September 2023

RBI draft norms on foreclosure charges to hit lenders' profits: Analysts

The hit on non-banking financial companies (NBFCs) would be larger compared to banks, they said

Credit card spending rises by 10.8% to Rs 1.84 trn in Jan 2025: RBI data

Per card spending in the industry stood at Rs 16,910, up 1.09 per cent from the same period last year