Page 54 - Insurance News

ICICI Pru Life appoints BoFA ML, ICICI Sec as lead bankers for IPO

The company, a joint venture between ICICI Bank and Britain's Prudential, plans to file its offer document with market regulator Sebi by the end of this year

Govt weighing proposals of 4 PSU insurers for Fasal Bima Yojana

Currently, Agriculture Ministry has empanelled 11 private sector companies and state-owned Agriculture Insurance Company to implement PMFBY

India drops from top three in Million Dollar Round Table

Membership to MDRT is based on agent productivity and includes criteria for commissions and premium

Heavy discounts in insurance to come under scanner

Regulator has now come up with new set of norms for maintaining solvency ratio by insurance companies based on each line of business

Bajaj Finserv posts Rs 517.9-cr net profit in March quarter

This was on account of transfer of policyholders' surplus to shareholders' account by Bajaj Allianz Life Insurance

Private insurers see healthy growth in profits in 2015-16

Private life insurers saw growth of 26% in their group business and only 13% in their individual business

Public sector banks open up to multiple insurers

IRDAI has opened up corporate agency channel wherein banks can tie-up with up to three life, three non-life and three standalone health insurers

Bajaj Allianz General launches 'TweetInsurance'

Facilitates getting insurance information and services instantly by simply sending a tweet at Bajaj Allianz Twitter handle with relevant hashtags

Insurers now offer value-added services

Tax filing, electrical service, alternate medical opinion and customer feedback getting incorporated into policy package offers

Gems and jewellery continues to be top sector for claims in ECGC

The gems and jewellery sector claimed worth Rs 871 crore in the financial year 2015-16

IRDAI brings out norms to strengthen insurers' boards

The regulator said the Board will have to look at a broad range of areas such as overall direction of business of the insurance company

Insurance regulator brings out norms to strengthen insurers' boards

Irdai said while laying down the projections, the boards must address the expectations of the shareholders and the policyholders

Irdai issues new insurer solvency margin rules

For segments like health, motor and liability, insurer would be required to maintain a higher solvency ratio

Management expense caps announced for general insurers

Motor, health allowed higher expenses than other categories; heavy penalties if limits are exceeded

Redesigned IPO norms for insurance companies soon

According to reports, HDFC Standard Life and ICICI Prudential Life Insurance companies have approached the insurance regulator for approval to divest equity through IPO route

Revised IPO guidelines soon for insurance firms: IRDAI

Irdai puts total foreign investment in insurance sector at Rs 15,000 cr in past one year due to hike in FDI limit

Coverfox.com launches doorstep claims assistance program in Mumbai

Launches Express Claims Service as it looks to ensure timely & professional claims support

Insurers now offer value-added services, assistance

Reliance General Insurance is now offering specialised services to the home insurance customers

Motor insurance combined ratios might rise in FY17

In FY17, MTP premiums went up by increase of 10-40% from April 1 in private cars and two-wheeler segment

Six insurers get FIPB nod for Rs 2,566-cr FDI till Feb 2016

Approvals come after after the government increased the FDI cap in the sector to 49% from 26%