Page 16 - Insurance News

Terrorism insurance premiums likely to fall up to 15% from April 1

The maximum limit of indemnity for insurance of sabotage and terrorism risk is decided by the pool underwriting committee, where the initial capacity was Rs 200 crore per location

Regulators must adapt as technology changes the insurance landscape

Companies are using insurance technology, or insurtech, to prevent fraud, process claims promptly, and offer personalised services to customers

Edelweiss Life Insurance likely to break even by FY27: MD & CEO Sumit Rai

The private sector insurer has been incurring losses and remains reliant on capital infusion from its Indian parent, which in FY25 infused Rs 200 crore into the company

Prudential partners HCL's Vama Sundari for standalone health insurer

This marks Prudential's second foray into insurance business and comes close on the heels of the Indian government allowing 100 per cent foreign direct investment (FDI) in the sector

Centrico Insurance Repository to offer insurance repository services to LIC

The insurance repository system, introduced by the regulator, provides policyholders with a facility to keep insurance policies in electronic form and make changes

Former SBI & LIC chiefs among new members of Irdai's advisory panel

The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval

Allianz to explore new avenues in India after exit from Bajaj JVs

Bajaj Group will acquire the 26 per cent stake in BALIC for Rs 10,400 crore and in BAGIC for Rs 13,780 crore from Allianz

Life Insurers report 5.7% growth in premiums in April - Feb period

Life-insurance companies in February reported an 11.6 per cent year-on-year (Y-o-Y) drop in new business premium (NBP) owing to relatively weak performance by state-owned Life Insurance Corporation

Slowdown in health and motor segment drag non-life premiums in Feb

According to General Insurance Council data, general insurers, who operate in multiple business lines, witnessed about 5 per cent YoY drop in premiums to Rs 17,399.3 crore in February

Ahmedabad hospitals to suspend cashless facility for 3 health insurers

AHNA exploring tie-ups with financial institutions to offer cashless payment alternatives for affected patients

Insurers likely to prefer bond forwards over forward-rate agreements

Irdai allows insurers to hedge interest rate risks with bond forwards

Life insurers' new business premium growth drops 11.6% in February

LIC's weak performance drags overall premium growth of the segment

Several hits, few misses in Debasish Panda's 3-year tenure as Irdai chief

Irdai under Panda moved to principle-based regulation from rule-based regulation

Govt invites applications for Irdai chief's post as Panda's term ends soon

The last day for submitting applications is April 6

Insurance cos knock on Irdai door seeking more time to implement Bima-ASBA

Insurers seek Irdai's nod for more time to implement Bima-ASBA, citing early deadline; feature allows policyholders to block premiums until underwriting is completed

Multi-year health insurance policy sales dip as agents' commissions drop

Irdai's new accounting norms for premium reporting has resulted in insurers revising commissions on multi-year health policies

InsuranceDekho raises $70 mn from Beams Fintech, MUFG, BNP Paribas Cardif

The Gurugram-headquartered company serves over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform

Irdai retains obligatory cession at 4% for FY26, third year in a row

Obligatory cession is the portion of business that Indian non-life insurers must mandatorily reinsure with GIC Re

Health insurance premium growth in slow lane due to tapering demand

Change in accounting norms, sharp decline in premiums from govt. schemes have also weighed on health insurance premium growth

Irdai move on equity derivatives: Insurers gain tools to manage volatility

Irdai felt the need to permit insurers to hedge through equity derivatives