Page 35 - Insurance News

AXA set to launch mental health insurance in Indian group policies

The first-ever standalone product in this space will provide Rs 25,000 for virtual consultations with therapists, psychologists and life coaches, and up to Rs 1 lakh for hospitalisation

In the grey market LIC shares slip below their issue price ahead of listing

Individual investors are still expected to make gains

Life insurance business to face some pressure this fiscal: Report

The large private life insurers with a better brand equity and distribution network with innovative approach are better placed for business growth and increasing their market

Life insurers' new business premiums zooms 84% in April, thanks to LIC

In April, the industry earned NBP to the tune of Rs 17,939 crore, compared with Rs 9,739 crore in the year-ago period

State-run general insurers may get capital infusion of Rs 3,000-5,000 cr

The capital infusion would help improve the financial health of the general insurance firms -- National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company

IRDAI suggests new modules for low-income group, small businesses

The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi MI (Micro Insurance) products.

Life Insurance Corporation to join league of top global insurance firms

Expected to list with m-cap of Rs 6 trillion - making it world's fourth biggest

Insurance takes on a new cover

Online channels have demonstrated exponential growth over the last few years, especially after the pandemic

Health insurance premium rise spurs non-life growth, shows data

While insurers have witnessed a jump in health premiums over the last two years, their claims burden has also gone up.

Group health policies see rise in premiums in renewal cycle, shows data

There was a marginal increase of 0-5 per cent in group health insurance premiums

LIC's first-year premium grew by 7.92% to Rs 1.99 trillion in FY22

The market share of LIC stood at 63.25% in total first year premium for financial year 2021-22

New business premiums of life insurance companies jump 37% in March

In FY22, life insurers post 13% growth in new biz premium, compared with 7.5% growth in FY21

New business premium income of insurance cos up 13% at Rs 3.14 trn in FY22

Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal

Health insurers take 20-46 days to settle patients' claims: Report

The claim cost could be 10 to 30 per cent cheaper when the insurance is bought from public sector insurers that have GIPSA rates compared to the service provided by private insurance firms, it said

Health cover premiums shoot up as Covid-19 pandemic threat looms

Premium costs jump 10-15%, driven by large number of claim payouts during pandemic as well as factors such as rising healthcare costs

Non-life insurers report 11% growth in premiums at Rs 2.2 trn in FY22

ICICI Lombard leads pack among private players, with 28% growth

Irdai may go for 100% FDI in 'new' insurance biz to expand scope of sector

In Budget FY21, Finance Minister Nirmala Sitharaman had announced raising the cap of FDI to 74 per cent for insurance companies with effect from August 2021

PSU insurers lodge Covid insurance claims worth Rs 17,537 cr till Dec 2021

Public sector insurers lodged Covid-19 related health insurance claims worth Rs 17,537 crore till December 2021 and more than 93 per cent of the cases were settled, Parliament was informed on Monday.

Covid-19 survivors likely to go off health insurance cover wait list

When Covid was at its peak, some insurers had introduced a "cooling-off" period -- a duration during which consumers could not apply for a health insurance policy if they had contracted Covid.

Life insurers eye double-digit growth as Covid-19 pandemic pain eases

The new business premia (NBP) of the industry have grown at 8.43 per cent in the first 11 months of the current financial year (FY22)