Page 47 - Insurance News
Aegon Life explores fintech,e-commerce channels to sell policies
Aegon Life is a joint venture between global insurer Aegon and Bennett Coleman & Company
 "Aegon Life explores fintech,e-commerce channels to sell policies")
Irdai's ad budget raised in FY18 even as it spent only 40% in FY17
Irdai had a budget of Rs 60 cr for ad last year of which it spent only Rs 24 cr
 "Irdai's ad budget raised in FY18 even as it spent only 40% in FY17")
Irdai directs Sahara India Life Insurance to stop underwriting new business
But it's allowed to continue its business as far as its existing business is concerned
Insurance Information Bureau plans central data base of insurance agents
Move to help individual companies in having a background check of intermediaries before engaging them
 "Insurance Information Bureau plans central data base of insurance agents")
Irdai's no to HDFC-Max merger could impact sector valuations
The much-discussed synergy for the two life insurance entities might take longer to accrue
 "Irdai's no to HDFC-Max merger could impact sector valuations")
Reliance General Insurance IPO by FY18-end
Reliance Capital to dilute 10% stake
 "Reliance General Insurance IPO by FY18-end")
LIC settles 99.92% of death claim cases, sets record high
LIC is keen to push the boundary further, looking to settle 99% claims on a monthly basis in future
 "LIC settles 99.92% of death claim cases, sets record high")
EPFO to invest Rs 22,500 cr in ETFs for FY18
The annualised return on EPFO investments in ETFs has been over 12% so far: CPF Commissioner V P Joy
 "EPFO to invest Rs 22,500 cr in ETFs for FY18")
Gross direct premiums underwritten by non-life insurers up 16%
The month-on-month increase for May stood at 16% for entire non-life insurance industry
 "Gross direct premiums underwritten by non-life insurers up 16%")
Irdai red flags HDFC Life, Max Life merger
Firms working on new deal; HDFC Life plans IPO
 "Irdai red flags HDFC Life, Max Life merger")
ICICI Bank, Fairfax to shed stake in ICICI Lombard via IPO
ICICI Bank holds 63.31% stake while Fairfax India Holdings Corporation holds 22.13% approximately
 "ICICI Bank, Fairfax to shed stake in ICICI Lombard via IPO")
State-owned insurers face Irdai's litmus test before IPO
Irdai has barred National Insurance's actuary for 'overstating profits and distorting solvency'
Fairfax to sell more stake in ICICI Lombard
Last Saturday, Fairfax sold 12.18 per cent in ICICI Lombard to private equity firms
 "Fairfax to sell more stake in ICICI Lombard")
General insurance industry's premium grows 16% to Rs 12,206 crore in April
The private sector GI companies have beaten state-owned peers in terms of gross premium in April
GST to impact pure risk products: Exide Insurance
Exide Insurance expects a growth of 30 per cent in new business premium for this fiscal
LIC books 72% profit at Rs 19,000 cr from equity play in FY17
Sensex rally has helped nation's largest financial investor book 19% more profit in March quarter
 "LIC books 72% profit at Rs 19,000 cr from equity play in FY17")
LIC divides investment portfolio among 3 MDs for more balanced decisions
For past many years, life insurance giant had been functioning with only one or two MDs
Irdai issues new outsourcing guidelines for insurers
Insurers are expected to do all actuarial functions and enterprise-wide risk management in house
 "Irdai issues new outsourcing guidelines for insurers")
New India Assurance FY17 net profit up 22%; targets 17% jump in FY18 biz
Company has suffered an underwriting losses to the tune of Rs 3,500 crore
 "New India Assurance FY17 net profit up 22%; targets 17% jump in FY18 biz")
Life insurance companies see high growth in non-cash premium payment
People in rural areas, small towns are switching to cashless modes of payment, says industry
 "Life insurance companies see high growth in non-cash premium payment")