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%

Business Standard

The draft code, circulated for public comments, had suggested that life insurance policies should be taxed at the time of maturity. So, the contribution and accumulation would be exempt from tax payments, but the government would levy tax on the withdrawal amount.

Insurers against new tax regime for policies sold before April 2011

Bharti Axa General Insurance Company is planning to infuse Rs 645 crore of capital in the next five years. It is also looking at expanding its network and planning to add 500 agents during the current year.

Bharti Axa to get Rs 645 crore capital infusion

The Insurance Regulatory and Development Authority (Irda) has decided to make available samples of transaction level data on motor and health insurance on its website to facilitate research on non-life insurance.

Irda to put insurance data on website

The model of universal life policy (ULP), which is ideally targeted towards the poor (micro-finance), is being replicated by some insurance companies for the urban middle class.

ULP: A savings policy with risk advantage

I have lost my life insurance policy document. How can I get a duplicate one? I don&rsquo;t have any receipt for the payment made.

INSURANCE: Kamesh Goyal

Future Generali India Life Insurance Company, a joint venture between Future Group of India and Generali Group of Italy, would be launching seven more insurance products in the current financial year.

Future Generali to launch more insurance products

Irda nod to policies with flexible premium, sum assured and tenure.

Now, pay risk premium at will

Low economic activity and unwillingness by insurers to underwrite loss-making portfolios led to a fall in business for segments such as marine cargo and health.

Marine cargo premium income growth falls to 3%

The life insurance industry recorded 12.85 per cent growth in new business premium during the first half of the financial year even though private players saw a drop in sales of new policies.

Life insurance biz grows 12.8%

On an expansion drive in the state of Gujarat, Shriram Life Insurance Co. Ltd., a joint venture between the Shriram Group and Sanlam, a leading insurance company of South Africa, is expecting to earn around Rs 60 crore worth premium by September end 2012. As part of the expansion drive, the company plans to hire 640 field sales officers (FSOs) and 64 business managers in next two years.

Shriram Life expects Rs 60 crore premium from Gujarat by FY '12

Insurance company, Max New York Life Insurance Co. Ltd, launched its product 'Secure Dreams' in Gujarat today, The product provides an alternative investment option for those who do not want to bear risk pertaining to the inherent volatile nature of the stock market.

Max New York Life launches 'Secure Dreams' in Gujarat

Life Insurance Corporation ( LIC) and the Andhra Pradesh government signed an MoU on Wednesday for providing pensions to the members of women self-help groups (SHG) in the state under the &lsquo;Dr YSR Abhaya Hastam&rsquo; scheme.

LIC, Andhra  sign MoU

Urged by banks, the Union finance ministry will give attention to a scheme to insure study loans.

FinMin to take up insurance cover for study loans

The Insurance Regulatory and Development Authority (Irda) is likely to hasten the file and use procedure for unit-linked insurance plans (Ulips).

Irda may cut Ulip approval time from 30 to just 3 days

Insurance sector regulator Irda On Monday said it is likely to come out with initial public offer (IPO) guidelines by October. &ldquo;We had two meetings with the Securities and Exchange Board of India (Sebi) and couple more are required (to decide on final guideline on IPO),&rdquo; IRDA Chairman J Hari Narayan said at a CII event.

Insurance regulator to issue IPO norms by Oct

Press Trust of India

IDBI Fortis Life Insurance Company Ltd, which started its commercial operations from March 2008, aims to sell 10,000 Termsurance Grameen Surakshya (TGS) policies in Orissa during the current fiscal.

IDBI Fortis in pact with RRDC for rural poor

The Visakhapatnam division of Life Insurance Corporation of of India (LIC) is targeting a 25 per cent increase in premium collection to Rs 2,500 crore during the current financial year. The division comprises three coastal districts of Visakhapatnam, Srikakulam and Vizianagaram.

LIC-Vizag eyes 25% increase in premium

Life Insurance Corporation of India (LIC) is set to introduce a micro-insurance policy called Jeevan Mangal on September 3 this year.

LIC to roll out new policy

&ldquo;We have already invested Rs 40,000 crore in the stock market in the first four months of the current financial year and by March 2010, the company would invest an additional Rs 1 lakh crore,&rdquo; LIC Zonal Manager (North) Vinay Kumar Sinha said.

LIC to invest Rs 1 lakh cr in equities this year

Now, people buying health policies with a cover for three years or more can surrender them within 15 days if they are not satisfied with the terms and conditions of the agreement.

Come Oct 1, you can exit health policy within 15 days

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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