Page 32 - Insurance News

ICICI Lombard General Insurance profit rises 40% as premiums climb

The Mumbai-based insurer's March-quarter profit after tax rose to Rs 437 crore ($53.29 million), from Rs 313 crore posted a year ago

A snapshot of term insurance plans with 2 riders offered by various firms

Here is how the term insurance plan with two riders offered by various companies stack up

Insurance Samadhan launches Polifyx, a one-stop solution for customers

Polifyx is backed by domain experts with over 100 years of cumulative experience in the insurance industry

Irdai chief urges insurers to increase their capital for faster growth

Says those in JVs with foreign firms must make use of the enhancement in FDI limit from 49% to 74% to get more capital from foreign partners

DFS urges states, UTs to deepen micro-insurance schemes in 3-mth campaign

Currently, active enrolments under PMJJBY and PMSBY stand at 83 million and 239 million, respectively, and claims of about Rs 15,500 crore have been paid under both schemes

DFS Secretary chairs meeting to boost enrolments under PMJJBY, PMSBY

The three-month campaign will cover all the districts in the country from April 1 to June 30, 2023, the finance ministry said in a statement on Tuesday

Non-life insurers may have to reduce payouts to adhere to EoM norms

Unlisted life players may rack up a commission war to gain market share

Irdai grants life insurance registration to Acko & Credit Access Grameen

With the entry of these two firms into the space, the number of life insurance companies in the sector goes up to 25, after remaining stagnant since 2011

Why Irdai's flexible rules are significant for insurance industry

By removing the limit for agents, the regulator has provided insurers greater scope to build their businesses

IRDAI's new rules to affect PSU insurers, legalises actions of pvt players

What was being done in a clandestine manner by the industry players, the the Insurance Regulatory and Development Authority of India (IRDAI) has legalised the same with the new norms

High-value life insurance policy sales fail to pick up in Feb-March

This is despite a new tax being introduced from April 1

Outward remittances under RBI's LRS in April-January surpass FY22

The figure in FY22 was the highest ever in any financial year

WDRA, PNB ink MoU to for finance against negotiable warehouse receipt

Warehousing Development Regulatory Authority (WDRA) has signed an MoU with PNB to facilitate loans to farmers and traders against negotiable warehouse receipts

Anup Bagchi to take over as MD & CEO of ICICI Pru Life Insurance in June

Bagchi will replace N S Kannan, the current MD & CEO, who will complete his five-year term, and superannuate from service in June

A year of reforms for insurance sector under Irdai's Debasish Panda

Irdai has also now provided more flexibility and autonomy to the boards of insurers in operational and financial decisions

Govt to infuse more capital in public sector general insurers next year

They are not in good financial health and fund would be infused in these entities to augment their solvency margin, the official added

Consumers optimistic towards retirement: ICICI Pru Life Insurance study

Individuals who are well prepared for retirement start investing even before they turn 40, finds an ICICI Prudential Life Insurance study

DFS work on draft insurance law complete, sent to Cabinet for approval

The amendments aim to enhance the security of policyholders, promote their interests, and improve returns

Insurance companies yet to see fire sale of high-value life policies

Expect higher sales of such policies in March

Bharti AXA-Unity Bank in bancassurance tie-up to tap 1.5 mn customers

Through this alliance, Bharti AXA Life's entire suite of life insurance plans, including protection, savings, investment, and retirement products, will be offered to the customers across 17 states