As Irda refuses to budge on guaranteed returns.

Returns on Ulip pension plans set to rise

Business Standard

Life Insurance Corporation (LIC) recorded a 10.99 per cent rise in valuation surplus to Rs 23,478 crore in 2009-10 as compared to Rs 21,152 crore in 2008-09. Valuation surplus is the money available with LIC for distribution after paying all expenses and taxes. LIC paid Rs 1,029 crore dividend to the government.

LIC valuation surplus up 11%

Life insurance companies are going to see a squeeze in margins and profitability, given the prescribed structural changes to be brought to unit-linked insurance plans (Ulips) from September.

New Ulip norms to make cost control crucial for life insurers

The Insurance Regulatory and Development Authority (Irda) will shortly come out with guidelines pertaining to administration of health insurance. &ldquo;The guidelines will basically address claim forms, billing and registration-related issues,&rdquo; Irda Chairman J Hari Narayan said.

Irda to come out with health insurance guidelines soon

ICICI Lombard General Insurance Co, India&rsquo;s biggest private sector non-life insurance company, reported a 13 per cent drop in its net profit to Rs 33 crore in the three months to June 30, compared with Rs 38 crore in the same period a year earlier.

Higher medical claims erode insurers' earnings

Despite Irda&rsquo;s good moves, insurance policies should be bought for cover, and not for investment.

Only for the risk-averse

Insurers are pushing riders with term plans. You may not need most of these.

Choose riders on cover carefully

Leading corporate hospitals, which are out of the preferred provider network (PPN) of public sector health insurance firms, will offer standardised treatment packages for nearly 250 procedures to see their PPN status restored soon.

Private hospitals meet insurance firms today

Corporate hospitals may restore cashless treatment to policyholders of the four public sector health insurance firms in a week.

Cashless hospital cover may return in a week

Listing plans of life insurance companies may take longer, with the delay in raising the foreign direct investment (FDI) cap to 49 per cent from the present 26 per cent.

Insurance IPOs unlikely till hike in FDI cap

RSA Insurance Group Plc, the UK&rsquo;s biggest non-life insurer, made a 5 billion-pound ($7.8 billion) bid for Aviva Plc&rsquo;s general insurance business in the UK, Canada and Ireland, according to two people with knowledge of the situation.

RSA said to bid $7.8 bn for Aviva's assets

Life insurance companies are likely to reduce premium on their products after an updated mortality table comes into force, which will take into account rise in life expectancy of Indians.

Life cover may get cheaper

After setting stiff norms for unit-linked insurance plans (Ulips), the Insurance Regulatory and Development Authority (Irda) is planning to cap charges on traditional products within three months.

Irda may cap fee on basic policies

T o enhance transparency in unit-linked insurance products (Ulips) and protect the interest of policyholders, the Insurance Regulatory and Development Authority (Irda) has asked life insurers to disclose the underlying conditions and elements while advertising products.

Irda mandates disclosures in Ulip advertisements

I have an ongoing unit-linked insurance plan (Ulip). I want to enhance my cover. My insurance company does offer additional life cover as a rider. However, a term plan from another company for the same sum insured works out to be slightly cheaper.

Life Insurance: Kamesh Goyal

State-owned general insurance companies are planning to introduce health insurance products, designed to suit the need of different consumer groups.

Health insurance products to have greater choices

Press Trust of India

If you are planning to buy a term insurance policy, consider buying one online. Close on the heels of Aegon Religare Life Insurance Company&rsquo;s online term insurance plan, iTerm, ICICI Prudential Life Insurance has launched a similar plan &mdash; iProtect. Aegon Religare&rsquo;s plan has been in the market for over a few months now.

Buy online plans, but only for limited sum assured

&ldquo;My entire staff is looking forward to a holiday,&rdquo; says J Hari Narayan, chairman, Insurance Development and Regulatory Authority (Irda).

Irda begins clearing new Ulips

The Insurance Regulatory and Development Authority (Irda) has asked insurers to issue show cause notices to and abstain from doing any business with 884 corporate agents who had not registered their PAN (permanent account number) with the agency licensing web portal.

Insurers told to issue notices to corporate agents

Last week, Tata AIG General Insurance launched a jewellery and valuables insurance cover for high net worth individuals &mdash; a first of its kind. While both public and private general insurance companies have jewellery insurance covers, they are a part of the householder&rsquo;s policy.

Accurate valuation is the key

Private life insurer ING Life India today said it would continue to focus on selling traditional products vis-a-vis Unit Linked Insurance Plans (Ulips).

ING Life banking on traditional products vis-a-vis Ulips

Insurance News: Visit Business Standard to know about the latest Insurance Industry News, online insurance information, expert views and updates.

Insurance News: Latest Insurance News, Insurance Industry Policy Headlines and Updates | Business Standard

Visit Business Standard to know about the latest Insurance Industry News, online insurance information, expert views and updates.

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