Page 25 - Insurance News

General insurers' premium grew by18.3% in July to Rs 23,259 crore

Stand-alone health insurers reported a growth of 24 per cent to Rs 2,665 crore in July, and a 25.8 per cent rise to Rs 9,322 crore in the first four months

Avg health insurance claims in India Rs 42,000; 15% cross Rs 1 lakh: Report

The average cost of health insurance claims in India is Rs 42,000, with 15 per cent of these claims exceeding Rs 1 lakh, a report said

Regulator IRDAI approves transfer of HDFC Life shares to HDFC Bank

HDFC announced a $40 billion deal last year to merge with the top private lender

Govt proposes rates for third party motor insurance premium for FY24

According to a draft notification, the base premium rates for third party motor insurance cover have been proposed at Rs 2,094 for private cars below 1,000 cc, Rs 3,416 for cars

Irdai fine-tuning Bima Sugam, likely to miss its August launch date

The launch of the much-touted affordable insurance product Bima Sugam is likely to be delayed beyond August timeline as regulator Irdai is working on fine-tuning the product

India considers rule changes to bolster $731 billion insurance sector

Insurance penetration remains abysmally low at less than 5% in the country of 1.4 billion people, signaling growth potential for investors

Go Digit Life Insurance receives IRDAI's approval to start business

"This is the fourth registration granted by IRDAI in last one year in Life and Non-life segment," it added

Non-life insurance premium grew 18.1% to Rs 18,031.48 crore in May

New India Assurance Co Ltd, the largest government-owned general insurance player reported a growth of 9.67% to Rs 2421 crore while private sector insurer ICICI Lombard grew by 21% to Rs 1730 cr

IRCTC's 0.35 paise travel insurance for accidents: All you need to know

While booking train tickets on the IRCTC website or app, travellers have the option to avail themselves of travel insurance for a premium of just 35 paise

SBI Life to take over 200,000 policies of Sahara India Life Insurance

SBI Life, which has 990 branches across the country, serves 49,036,079 policyholders

Irdai asks SBI Life to acquire Sahara India's Life Insurance business

The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC

Abrdn likely to sell its 1.66% stake in HDFC Life via block deals: Report

Back in 2022, Abrdn Investment also divested a 5.58 per cent stake in HDFC AMC for more than Rs 2,300 crore through an open market transaction

What are different types of car insurance policies in India? Details here

There are many different types of car insurance policies available, each with its own set of coverage options. It is important to choose a policy that meets the needs of the car owner

Irdai to create state insurance plan mirroring SLBCs: Debasish Panda

Aim is to bring down regulations and promote innovation in the sector

SBI General unveils 'Surety Bond Bima' for infrastructure projects

This product was developed in response to the government's vision to upscale infrastructure development, SBI General Insurance, whole-time director Anand Pejawar said

Irdai forms task force to facilitate ease of doing KYC using Aadhaar

Regulator Irdai has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number

IRDAI lowers the solvency requirement for surety bonds to 1.5 times

Removes 30% exposure limit on each contract

Regulators ask if Credit Suisse bond wipeout must trigger insurance payout

The five-year default swaps tied to Credit Suisse Group's AG's junior debt rose by 36 basis points on Thursday to 397, according to CMAI pricing

Increase in premium amount of life insurance a big concern for customers

'Company does not keep in touch' is cited as the potential reason for customers leaving, according to 22 per cent of the people, suggests the report

Irdai proposes guidelines for remuneration of core team of private insurers

Insurance sector regulator Irdai on Wednesday proposed a revised guidelines for remuneration for non-executive directors and persons in key managerial positions of private insurers