A guide to the new expense rules on ulips.

Net yields may still be low

Business Standard

The Insurance Regulatory and Development Authority (Irda) has asked non-life insurance companies to move towards risk-based pricing.

Irda asks non-life insurers to adopt risk-based pricing

Haldia Petrochemicals may get Rs 310 crore insurance claim for a fire that engulfed a part of the mother plant on July 2 this year.

Haldia Petro may get Rs 310 cr for fire losses

The government and financial sector regulators have prevailed on Insurance Australia Group (IAG) to route its investment in a general insurance venture with State Bank of India through Singapore, instead of the original proposal to bring the money through a Mauritian subsidiary.

Regulators ask SBI's insurance partner to avoid Mauritius route

Issuances of certificates of deposit (CDs) and commercial papers fell today as mutual funds &mdash; regular investors in the market &mdash; refrained from investing due to limited inflows in their liquid and liquid plus schemes, dealers said.

CD issuances dip as MF demand falls

You can now surrender your unit-linked insurance plan (Ulip), purchased from a life insurer, after four years without having to pay any charge. This was announced by the Insurance Regulatory and Development Authority (Irda) today.

No surrender fee on Ulips after 4 yrs

Some insurers may cut agent workforce due to new norms on unit-linked plans.

Insurance agents&#39; fee to fall

With increased awareness and concern over unexpected events like the 26/11 terror attack on Mumbai, Ganesh mandals (organisers of the Ganapati festival) are seeking higher insurance cover. For instance, Mumbai&rsquo;s most popular mandal, Lalbaughcha Raja Ganesh Mandal, has bought insurance worth Rs 4 crore.

Risk cover for festivals rises this season

Mortgage loans lender LIC Housing Finance (LICHF) was likely to finalise a partner for its real estate venture capital fund by the end of this month, a top company official said.

LIC arm to finalise realty venture fund partner this month

Press Trust of India

The Insurance Regulatory and Development Authority (Irda) has asked insurance companies to be more cautious while concluding contracts with &ldquo;high risk customers&rdquo;, particularly the &ldquo;proposals of Politically Exposed Persons (PEPs)&rdquo;.

Irda cautions insurers against politically exposed persons

ICICI Prudential Life Insurance Company is planning to launch a new policy in 45 days this financial year.

ICICI Pru plans new insurance policy

The Insurance Regulatory and Development Authority (Irda) has barred insurance companies from investing in Indian depository receipts (IDRs), saying investments outside the country are forbidden by the Insurance Act.

Irda prohibits insurers from investing in IDRs

One year after the Insurance Regulatory and Development Authority&rsquo;s (Irda) allowed insurance companies to invest in venture capital (VC) funds, no insurer has shown interest in funding VCs.

Insurance firms shy away from VC funding

Bajaj Allianz, a leading insurer offering general and life insurance products, has made strategic investment of Rs 50 crore in SKS Microfinance, one of India&rsquo;s largest microfinance institutions. The deal is the first-ever investment by an insurance company in an Indian Microfinance Institution (MFI) and signals an important steps in the evolution of SKS Microfinance, a statement said on Thursday.

Bajaj Allianz invests Rs 50 cr in SKS Microfinance

With the Securities and Exchange Board of India (Sebi) abolishing the entry load on mutual funds, sector experts believe distributors are likely to aggressively push high-commission insurance products. The quashing, applicable from August 1, will bring down their commission to less than half of what they earn right now. The result is likely to be aggressive selling of, for one, unit-linked insurance plans (Ulips).

Don&#39;t get swept by Ulip talk

A day before Budget, UK-based insurance firm Aviva today said it is keen on raising FDI to 49 per cent in the Indian venture subject to policy liberation.

Aviva keen on raising FDI in Indian venture to 49%

While no finance minister can propose a &quot;please all&quot; budget, the current proposals have a mix of good and bad. The scrapping of FBT is in right direction. The tax structure, which has been left unchanged, is also understandable.

Not well insured

Issuances of one-year certificates of deposit (CDs) rose today as banks were keen on raising funds for such tenure on views that interest rates might rise later, dealers said.

One-year CD issues up as banks expect rates to rise

Life insurance companies have put their plans to list their shares on the stock exchanges on the backburner, though they are hopeful of Parliament's nod for the Insurance Bill, which will increase the foreign investment limit, during the Winter session.

Insurers put IPO plans on backburner

Internal audits have forced insurance companies to ask for higher premium after issuing policies, leading to an increase in cancellation of mediclaim covers.

Cancellation of group mediclaim policies increases by 30%

HPCL-Mittal Energy Limited (HMEL) has paid Rs 60 crore to insure its planned refinery in Bathinda in Punjab against risks during the construction phase.

HPCL-Mittal pays Rs 60 crore to insure its under-construction refinery

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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