Page 36 - Insurance News

Public insurers lost 30% motor segment business since FY18: Care Ratings

Amongst the states, Maharashtra continues to occupy the top spot followed by Tamil Nadu, Karnataka, and Uttar Pradesh in motor business for insurers.

Post LIC IPO, 60% of insurance biz to be with listed entities: Official

The sector as a whole has been growing at a pace significantly higher than that of the overall economy, says dditional Secretary in the Finance Ministry Amit Agarwal

LIC to have CEO, MD as govt does away with Chairman post ahead of IPO

To facilitate the listing of the insurance behemoth, the government has already approved raising its authorised share capital to Rs 25,000 cr\

Shocked by Covid deaths, young Indians rush for life insurance

During devastating second wave in April and May, the numbers of people aged between 25 and 35 buying term insurance was 30% higher than in previous 3 months combined, said PolicyBazaar

Life insurance companies' new premium business up 45% at Rs 9,739 crore

While the NBP of private insurers, 23 in total, grew 55.18 per cent over the same period last year, state-owned Life Insurance Corporation reported 35.6 per cent growth

Run for cover will need longer strides: Insurance experts at BS Webinar

At Business Standard webinar on De-risking the Risk Business, they say one can expect a deadline extension for the implementation of IFRS 17, given the Covid pandemic

Insurers see adverse impact of Covid-19 claims on their loss ratio

Indian insurers had not factored in the impact of Covid claims while underwriting their products

Amid Covid-19 pandemic, India's insurance sector has seen contrarian growth

The industry has outperformed its global peers, but mostly by exiting the bottom of the pyramid

Irdai allows insurers to invest in debt instruments of InvITS and REITS

Securities should not be rated below 'AA' under the "approved investment" category. In case the instrument is subsequently downgraded, it will be part of "other investments"

Amid Covid scare, life insurers go slow on renewing group-term plans

The adverse claims experience of life insurers have made them apprehensive of renewing group-term policies of some corporate entities

High demand for comprehensive health policies as Covid cases soar again

Covid plans were in huge demand last year but have since petered out

Irdai asks insurers to facilitate Covid vaccination of policyholders

The regulator said insurers may create awareness among policyholders about vaccination through effective communication via SMS or email

Rajya Sabha passes bill to raise FDI limit in insurance sector to 74%

Majority of directors, key personnel will be resident Indians; percentage of profits to be retained in India, says FM Sitharaman on FDI safeguards

'Policies to cover hospitalisation cost due to adverse effects of vaccine'

Hospitalisation is covered under the health insurance policies subject to the specific terms and conditions of the policy, says Irdai

BS Insurance Round Table 2020: Predatory pricing slammed, sandbox lauded

Fighting for market share via outpricing is lazy; industry should revisit the way it looks at the customer, offer better claim experience and products, improve distribution, say participants

Insurers want IT system for Ayushman Bharat scheme to check quality, fraud

Aadhaar cards will become insurance cards so that insurers and other participants can verify beneficiaries

PSU general insurance companies seek capital infusion ahead of merger

The three firms need immediate recapitalisation of at least Rs 2,000-3,000 crore each in order to maintain solvency ratios and wipe out losses

RBI report on demonetisation: Financial savings in insurance, shares rise

Demonetisation reduced the currency in circulation by 2.1%, but deposits rose from 4.8% to 7.3%

ICICI Prudential to be listed this fiscal: Kochhar

It will be the first IPO from a life insurance company in the country

Online insurance space to hit Rs 600 bn premium revenues in 5 years

Launched in 2015, RenewBuy ranks among the top two online insurance aggregators