The high level coordination committee (HLCC) on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.

Insurance fee may be cut in phases

Business Standard

Aided by strong growth in sales of unit-linked insurance plans (Ulips), new business premium income of life insurers went up by 75 per cent during December to Rs 12,201 crore against Rs 6,961 crore during the corresponding period last month.

Life Insurers' new premium up 75% in Dec

To save for your children, use low-cost investment avenues.

Old wine in new bottle

They were once the top favourites of life insurance companies and their customers due to the potential for high returns from the stock market, along with a basic life cover. But the market fluctuations and the regulator&rsquo;s move to put an indirect limit on fees have forced most insurance firms to shed their over-dependence on unit-linked insurance policies, or Ulips, which basically invest the premiums paid by customers into funds which buy stocks or bonds.

Insurers shed dependence on Ulips

India&rsquo;s life insurance sector is expected to grow by almost 15 per cent in the current financial year and touch a total premium income of Rs 2,55,000 crore (about $ 50 billion).

Life insurance sector to grow by 15%

The Pension Fund and Regulatory Development Authority (PFRDA) today unveiled a savings account scheme under the New Pension Scheme (NPS) which would allow investors to enter and exit at will.

Now, savings account available with NPS

The expert committee examining the way financial products are sold, which is chaired by Pension Fund Regulatory and Development Authority Chairman D Swarup, will stick to its earlier proposal of banning payment of upfront commission by insurance policyholders.

Panel for doing away with insurance commission

American International Group Inc lowered its debt by $25 billion as the company transferred two overseas life insurance units destined for sale to Federal Reserve vehicles.

AIG lowers Fed debt, transfers non-US life insurers

Bharti Axa General Insurance Company Ltd, a 74:26 per cent joint venture between Bharti Enterprises and Axa Group, has signed a Bancassurance tie-up with Nashik-based Nashik District Central Co-operative (NDCC) Bank.

Bharti Axa inks Bancassurance tie-up

There is finally some good news for health insurance buyers. Insurers are now beginning to cover outpatient department (OPD) expenses.

Now, health insurance to cover OPD charges

Bharti AXA General Insurance has introduced four new add-on covers under its motor insurance portfolio, which will be available with the company's existing product &mdash;SmartDrive Private Car Policy.

Bharti AXA launches add on covers for motor insurance

Most private players see a decline in premium income.

Life insurers go slow on expansion to check costs

Oriental Insurance Company Limited, the market leader in the non-life insurance segment in Orissa, has targeted a premium collection of Rs 100 crore from the state in the current fiscal.

Oriental Insurance targets Rs 100 cr premium collection

Schools and colleges have become the new hunting ground for non-life insurers, eager to push personal accident (PA) policies, a segment which has traditionally seen low claims.

Insurers push accident cover sale to schools

Bajaj Allianz Life Insurance, one of the leading private life insurance companies, expects to collect Rs 10-12 crore premium in its Berhampur division from its new Unit-Linked Insurance Policy named Max Gain.

Bajaj Allianz eyes Rs 12cr premium from Max Gain

Aviva Life Insurance Company Limited, one of India's leading life insurance companies, plans to come out with 3-4 new insurance products including a new Children's insurance plan before the end of the current financial year.

Aviva to roll out four insurance plans by '09-10

The life insurance industry logged a 21 per cent increase in premium collections during the first seven months of the current financial year compared to the same period last year, indicating recovery in the sector.

Life insurers' premium collection rises 21% in first seven months

Press Trust of India

The minimum ticket size and the tenure for unit-linked insurance plans (Ulips) are set to be higher from the New Year.

Come New Year, minimum investment, tenure for Ulips to rise

Ten years ago, a survey had projected that the life insurance industry would see its premium income grow at a compounded annual growth rate (CAGR) of 18.9 per cent.

Insurers look for profits, investors for higher foreign stake

Bajaj Allianz Life Insurance, one of the leading private life insurance companies, plans to recruit about 5000 more agents in Orissa over next 15 months.

Bajaj Allianz to recruit 5000 agents in state

Saturation in other businesses triggers the move.

Big shift among non-life insurers to cover SMEs

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.

Page 150 - Insurance News