Page 43 - Aathira Varier

Irdai retains surrender value norms, positive for life insurers: Analysts

Insurance industry leaders believed that higher surrender values could lead to the premature exit of policyholders from long-term insurance policies

Bima Sugam likely to reduce dependence on intermediaries for insurers

According to IRDAI's annual report for FY23, the online sales channel of life insurers contributed to 0.84 per cent of the individual new business premium (NBP)

IRDAI approves Bima Sugam, 7 other regulations in 125th board meet

The board of the insurance regulator approved the 'Bima Sugam' platform where the policyholders can compare premiums and purchase a wide array of insurance products

Player insurance premiums up 25% this IPL amid rise in players' brand value

Increased player value, susceptibility to injury drive premiums

Galaxy Health gets Irdai approval to launch health insurance business

According to the regulator, this is the sixth registration granted by IRDAI in around one year across the Life, Non-life, and Health segments

FSIB selects Girija Subramanian as CMD of New India Assurance Company

Bhupesh Sushil Rahul selected as CMD of United India Insurance Company

HDFC Bank completes Rs 9,553 cr stake sale in education unit HDFC Credila

Central bank had asked private lender to reduce its shareholding in HDFC Credila

High base effect of last year to hit March growth business of life insurers

Several private insurers also reported to have moved towards Tier 2 and Tier 3 cities and in the less than Rs 5 lakh segment to compensate for their loss of business in the higher ticket size

Front running case: LIC fires employee banned by Sebi from stock market

Markets regulator Sebi had last year found that a dealer in LIC, was in possession of non-public information regarding impending orders of LIC and acted as an information carrier

HR, technology integration key challenge for Fincare-AU SFB merger

AU Small Finance Bank may find it challenging to manage the asset quality of Fincare SFB's microfinance institution portfolio

Outward remittances under Reserve Bank of India's LRS up 27% in Apr-Jan

Overseas remittances in January 2024 stood at $2.62 billion, nearly 9 per cent higher than $2.40 billion in December 2023

Poonawalla Fincorp announces appointment of Arvind Kapil as MD & CEO

The current MD & CEO of the company, Abhay Bhutada, has been elevated to a group-level role

Govt nod for 17% wage hike for Life Insurance Corporation employees

The revision includes an increase in the National Pension System (NPS) contribution to 14 per cent from 10 per cent for nearly 24,000 employees

RBI reconstitutes 'committee of advisors' of Abhyudaya Cooperative Bank

In November last year, RBI had superseded the Board of Directors of Abhyudaya Cooperative Bank for one year citing poor governance standards

General insurance premium up 13% till February in FY24, shows data

However, due to higher base, the growth in health insurance policies have moderated in the period under review to 20 per cent from nearly 24 per cent in the corresponding year ago period

Vehicle thefts in India up 2.5x in 2023; New Delhi tops list: Report

According to a report by Acko Digital Insurance, a vehicle is stolen every 14 minutes in Delhi; Chennai's share has also doubled

RBI bars Federal, South Indian Bank from issuing co-branded credit cards

South Indian Bank has one co-branded credit card in partnership with the State Bank of India (SBI), available in two variants: SimplySAVE and Platinum

Zopper eyes expansion into EMs, targets 50-60% growth in India in 3 years

Zopper plans to expand its distribution ecosystem and strengthen partnerships with banks, non-banking financial companies (NBFCs), travel portals, brands, and retail chains

Medical inflation driving up ticket sizes for retail health insurers

Rising healthcare costs lead to adjustments in insurance premiums, driving up average ticket sizes, say industry players

L&T Finance Holdings inks pact with JICA for $125 million funding

The project is strategically aligned with the goals of the Ministry of Rural Development as it focuses on lending in rural and peri-urban areas of lagging Indian states