Page 23 - Insurance News

Approval for 19 General insurance cos applications in IRDAI's pipeline

Out of the 19 applicants, only Narayana Health Insurance Private Limited has reached the R2 stage of the application. Twelve of them are in their R1 stage

2023: A landmark year with new policies, regulations for life insurers

The regulator amalgamated three different regulations, in line with the suggestions of the regulations review committee

IRDAI eases claim settlement norms for victims of Cyclone Michaung

The regulator's circular added that the special dispensation granted is applicable to the claims arising out of Cyclone Michaung and the resulting heavy rains/floods

Irdai's diktat on surrender value weighs on life insurance stocks

According to the H1FY24 earnings, the share of Non-Par in Individual Annualised Premium Equivalent (APE) of LIC stood at 10.76 per cent

IRDAI release draft for increasing surrender value of non-par products

The insurance regulator has proposed a high surrender value on non-participating insurance products

IRDAI aims to move towards RBC model, IFRS by 2025, says chairman

The Chairman also said that Indian insurers are converging towards the IFRS Accounting system by implementing the IND-AS

Trust, financial education crucial in achieving insurance for all by 2047

Irdai has committed itself to enabling "Insurance for All" by 2047, where every citizen has life, health, and property insurance cover

Insurance for all by 2047: Insurers call for MF-style ad blitz & a rethink

These discussions took place at the Life Insurance CEOs panel at the Business Standard BFSI Insight Summit

Insurance industry must embrace innovation, enhance capabilities: Irdai

The biggest challenge is to draft a regulation which can foresee, predict and provide guidance for payments, said Panda

Insurance industry faces hurdle in growth due to dearth of human capital

To counter the shortage of human capital, insurance firms are investing in employees by recruiting directly from campuses

General Insurance CEOs laud the switch to 'principle-based' regulation

We are the 15th largest general insurance market in the world, said Dasgupta

Increased awareness, digital threat drives cyber insurance demand

Cyber-attacks on rise post pandemic; Nearly 40% growth in cyber policies in 2023

Life insurance companies clock a 25.28% drop in premiums, shows data

Among the private insurance companies, SBI Life Insurance, the largest private insurer, reported a 9.84 per cent decline in premiums to Rs 2,381.73 crore

Premiums of non-life insurance companies rise 7.37% in November 2023

The near 17 per cent fall in the premium of National Insurance Company dragged the overall premium of public sector units

Aditya Birla Health launches product 'Activ One' with 100% returns

Funds earned on Health Returns can be used for payment of renewal premium and other non-medical expenses, out-patient expenses, etc

LIC exploring possibility of setting up fintech arm says, Chairman Mohanty

LIC has initiated a total digital transformation project DIVE (Digital Innovation and Value Enhancement) and appointed a consultant to steer the project, LIC Chairman Siddhartha Mohanty told

PSU insurers' stocks surge on attractive valuation, RBI's risk weight norms

Low-float stocks are the companies with a relatively small number of shares available for public trading

Niva Bupa seeks to have gross written premium of Rs 10,000 cr by FY27

Health insurance company says Tamil Nadu among markets where it is seeking growth

High-value insurance policies in the slow lane after tax overhaul

Non-linked products are insurance plans not linked to the stock market, and therefore, their returns are not based on market performance

Reflects success: MoHRE as over 6.6 mn subscribe to Unemployment Insurance

The Scheme ensures social protection for workers - citizens and residents - in the federal government and private sectors, as it provides three-month compensation amounts for the insured