Page 117 - Insurance News

FinMin to soon notify 30% investment cap for LIC: Takru

Justifying the decision to treble LIC's investment limit, Takru said the Corporation was sitting on trillions of rupees which have to be invested

Irda allows insurers to set up business abroad

Irda has issued guidelines for Indian companies to set up life, general or reinsurance business abroad

Phaneesh case brings focus on India Inc's liability policy

The policy premium ranges between Rs 4 lakh and Rs 10 lakh, based on the sum assured of Rs 6 cr and above

FM-LIC Board meet: LIC asked to open 1,800 new offices

Increase in insurance penetration is top agenda

Insurers in operation for 3 years eligible to set up foreign office: Irda

'Foreign insurance company' shall mean a company registered outside India whose paid-up capital is subscribed to by an Indian insurance firm

Insurance regulator meets brokers, assures steps to address concerns

Brokers have demanded that there should be a reduction in penalties for them

Insurance broking to become more flexible with new norms

Brokers association to meet regulator to discuss further changes

Irda to share info with global peers on insurance sector

Irda has become a signatory to the global supervisory cooperation and information exchange agreement under the aegis of IAIS

Clinical trial liability insurance to see sustainable growth

General insurers believe recent apex court view on the issue would lead to a more orderly growth

Issuance volume for securitisation dips 20%: Icra

Securitisation is a process through which illiquid financial assets are pooled and repackaged into marketable securities

Irda plans new norms for micro insurance

Seeks cost effective regulations with better returns than premium deposited for investors

Report bats for insurance agency channel revamp

Report startes, by 2020, internet will constitute 15-20% of gross direct premium in personal line products

Index-linked insurance products may entirely go

New norms a big hurdle; life insurers petition Irda

LIC 's entry into common TPA still undecided

This in-house TPA for public general insurers to be operational from Jan 1, 2014

Public general insurers' net up in FY13

Growth backed by growth in premium and reduction in losses

SBI General hopes to cut net loss by 40% this year

The net loss was Rs 140 cr for 2012-13, against an anticipated Rs 165 cr

SBI General collects total premium of Rs 771 cr in FY13

Targets top-line growth in excess of 140% this fiscal

Irda head, life insurers discuss dip in growth

Irda chairman T S Vijayan raises concerns about de-growth of industry

In-house TPA to be operational from Jan 2014

Move expected to reduce costs for players who pay approximately 6% of premiums to TPAs to settle claims

Life insurers' premium growth to face challenge in FY14

Irda has recently brought out new guidelines on traditional product structure