Page 51 - Insurance News

Life insurers infra investments up, equity assets down in FY16

Industry officials said this was on account of insurers primarily using bank branch networks to sell policies, apart from using other platforms like web aggregators and insurance marketing firms

Tata AIG launches travel insurance for Axis Bank customers

Happy Holidays Package offers multiple travel benefits to globetrotters

IRCTC to offer personal accident cover for train travel

Starting September, those booking tickets through the IRCTC website can avail of a travel accident cover for premium as low as Rs 2 for cover of Rs 10 lakh

IRDAI lays norms on cessions to GIC Re based on product segment

With respect to fire, industrial all risks large risks, limit of cession in sum insured is Rs 750 cr sum insured per risk

Mandatory Ulip fund investment proposal may be dropped

Proposal to make it mandatory for life insurers to invest at least 25% of Ulip funds in G-Secs may be dropped

Demand for higher fee by banks to hit profits: ICICI PruLife

Opening up of bancassurance network has been viewed as a mixed bag by sector

Jan Suraksha schemes cross 129 million enrolments

Majority of the policies (95.7 million) that were sold under the Yojana were personal accident policies

ICICI Pru Life IPO signals jump in valuations

While its valuation stood at Rs 32,500 cr in November 2015, it is now commanding Rs 45,000-50,000 cr with the public offer

ICICI Prudential Life files papers for public offer

ICICI Prudential Life Insurance Company aims to raise Rs 5,000 cr via the IPO, the first by an insurer in India and the biggest in six years

Insurers use analytics to detect fraud, cross-sell products

Data from life insurers show there is at least a 20 per cent rise year-on-year in fraudulent claims, including claims in the name of people who do not exist

PFRDA launches new features for NPS subscribers

Now, NPS subscribers can view his/her NPS account, latest details of scheme wise units along with latest NAV and the total value of the schemes

United India looks at listing

Sources say disinvestment would be somewhere below 10%

Motor insurance to have more touch-points

IRDAI may relax of norms to enable distribution of simple policies such as Third Party through agencies such as Pollution Check Centres

Irdai directs insurers not to delay claim payments

Irdai said the provision was being made to protect the interests of policyholders as well as keeping in view the legal principles

Edelweiss Financial Services to enter general insurance

Edelweiss General Insurance will be EFS' wholly-owned subsidiary

Insurance proposed for drivers' treatment cost

At present, third-party motor insurance is mandatory

Exide Life launches term plans with return of premium

The company is discontinuing its existing regular term plan and replacing it with the ROP as there is more demand for ROP plans

Magma Fincorp appoints Rajive Kumaraswami as new MD & CEO of Magma HDI

He was previously with SCOR Re for four years

Reinsurance pie in life policies to get bigger

Currently, the reinsurance market is Rs 18,000 crore in India, of which life insurance only contributes Rs 1,200 crore-1,300 crore

FinMin to issue Cabinet note on listing of PSU insurers

Final shape is being given to various issues including quantum of stake dilution, sources added