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

Business Standard

ING Life India, part of ING group today launched their new non linked and non participative child plan &lsquo;ING Aashirvad&rsquo;, which helps parents plan for their child&rsquo;s future milestone.

ING launches child plan

To compensate for the expected drop in sales of life insurance policies after the new guidelines on unit-linked insurance plans (Ulips) kick in from September 1, life insurance companies pitched for more business in the first four months of the financial year.

Life insurers' new business income up 56% in April-July

Insurers to raise threshold to give returns prescribed by Irda.

Minimum investment in Ulips to go up

Having already infused Rs 90 crore, private insurer Aegon Religare Life Insurance (ARLI) would further infuse around Rs 360 crore capital in the current financial year. Additional investment will be done in the ratio of 44:26:30 among the three promoters&mdash;Religare, Aegon and Bennett, Coleman &amp; Co, respectively. Currently, the total capital base stands at Rs 660 crore.

Aegon Religare to infuse Rs 360 cr in capital base

Disfavours insurers&rsquo; plan to have life agents sell non-life plans.

Irda no to short cut on agent sales

For one, insurers will have to offer a minimum prescribed return.

New Ulip norms from Sept 1, policyholders to benefit

Life insurers may have to postpone their public listing plans and take longer to break even than originally anticipated, as a result of the new unit-linked insurance policy norms which take effect from Wednesday.

IPO, break-even plans of insurers likely to be delayed

Zero cost of pursuing such products makes for an easier option.

Insurers focus on single premium products

To request Irda to postpone the September 1 deadline to meet the new norms.

Insurers want 180 days grace period for premium default

Other downstream investment by Indian-owned foreign banks to be treated as FDI.

Insurance firms of private banks get FDI cover

Reliance Life Insurance Company (RLIC) plans to double its market share in the entire life insurance business to 10 per cent from the current 5.5 per cent in the next three years, RLIC President and Executive Director Malay Ghosh said here today.

Rel Life plans to double market share in 3 years

The government today allowed Life Insurance Corporation of India (LIC) and a few other finance companies to issue tax-free infrastructure bonds. An investment up to Rs 20,000 in these bonds will qualify for income tax deduction.

LIC, others get nod for tax-free infra bonds

Pilgrims visiting Puri during the famed Ratra Yatra festival will have their lives insured against accidental death and amputation of legs and hands.

Puri temple administration to insure Rath Yatra

I am going to shift from Mumbai to Delhi. For this, I have taken a transit insurance for furniture and other items.

General Insurance: Gaurav Garg

You might have to shell out 50 per cent extra premium to get treatment at the country&rsquo;s high-end hospitals.

Insurers may charge 50% more for high-end hospitals

The Haryana government today selected Ambala Block-II for insurance of the paddy crop under its Crop Insurance Scheme.

Insurance scheme for paddy begins in Haryana

L&amp;T General Insurance, the wholly owned subsidiary of engineering major Larsen &amp; Toubro limited (L&amp;T), on Monday said it would start operations within six to ten weeks. The company recently received a R3 (the final licence) from the insurance regulator.

L&T General Insurance to start operations soon

Along with Irda, will put their case before the parliamentary standing committee today.

Insurers want pool for nuclear plants

The life insurance industry has gained from the uncertainty over regulation of unit-linked insurance plans (Ulips), the investment-cum-insurance products, during the first quarter of the financial year.

Life insurance business zooms in Q1

The Insurance Regulatory and Development Authority (Irda) has issued grievance redressal guidelines for insurance companies.

Irda issues grievance redressal guidelines

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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