Page 18 - Insurance News

Non-life insurance companies report 13.7% growth in premiums in Q1 FY25

Non-life insurers include general insurance companies, standalone health insurance companies, and specialised PSU insurers

HDFC Ergo General Insurance processes its first claim on NHCX platform

NHCX is a single-window interface developed by the National Health Authority (NHA). It provides a secure platform and efficient exchange of health insurance claims data

Higher share of Ulips likely to weigh on life insurers' profit margin

Non-life firms to post strong premium growth, benefit from low claims ratio

Life insurance companies' new business premium up nearly 23% in Q1FY25

LIC leads with 28% growth in Q1; private players grow 14.6%

We will plan for an IPO at right time, right environment: IndiaFirst CEO

Gandhi spoke on the insurer's distribution and product portfolio plans which are expected to drive the premium growth of the company

Don't want to play the price game: Aditya Birla Health Insurance CEO

Bathwal discussed the premium growth and product launches that will support the growth along with the impact of regulatory developments

Narayana Health Insurance launches its first insurance product 'Aditi'

Its first health insurance product Aditi will come at a premium of Rs 10,000 per year

Health insurer Niva Bupa files IPO papers to raise up to Rs 3,000 crore

It aims to use the proceeds from that sale to strengthen its balance sheet and for operating expenses

New surrender value norms: Life insurers likely to alter product mix

To push Non-par policy sales till Sep 30

Don't sell Ulips as investment products: Irdai to insurance companies

Insurance companies will have to specifically state that market-linked insurance plans are different from traditional endowment policies and carry risks

ULIPs should not be advertised as 'investment products', says IRDAI

Insurers will have to specifically state that market-linked insurance plans are different from traditional endowment policies and carry risks

Slash GST on health insurance to 5% from 18%: Trade body to govt

Association says that renewal rates of the policies continue to decline due to frequent premium hikes and rising medical inflation

DICGC exceeds global average with month-long depositor payout: Patra

In India, deposit insurance is mandatory for all banks, including foreign banks. As of now, 1,997 banks are covered, which includes 140 commercial banks and 1,857 co-operative banks

Insurers likely to seek clarification from Irdai on new health circular

In the case of porting policies from one insurer to another, the regulator has asked the existing insurers to provide the required details to the acquiring insurance company within 72 hours

Multiple levers with insurers to mitigate higher surrender value: Experts

The Insurance Regulatory and Development Authority of India (Irdai) in its 'Master Circular on Life Insurance Products' issued on Wednesday prescribed enhanced Special Surrender Value (SSV)

Demand for OPD benefits on rise among health insurance policyholders

While demand for OPD benefits was present before, insurance industry experts believe that the Covid-19 pandemic pushed the demand further

Irdai accepts registration withdrawal plea of Paytm General Insurance

Paytm said that it aims to innovate on small ticket insurance products for consumers and merchants alike by focusing on small-ticket general insurance offerings along with our partners

Policy loan now mandatory in all life insurance savings products: Irdai

Issuing a circular, the Irdai also said the free look period, which provides time to review the policy terms and conditions, is 30 days as against 15 days earlier

Insurance helped 46,000 women avoid deadly work during heat waves in India

With climate change raising temperatures during heat waves, millions of Indians face a difficult choice: work in dangerous conditions or go hungry

Insurance companies can't reject claims for lack of documents: Irdai

The regulator said that the insurer cannot reject claim in full or part if the breach of warranty or condition is not relevant to nature or circumstance of loss