Page 60 - Insurance News
As insurance claims rise, premiums to go up
The premiums could see an upward revision of 10-20% in the next financial year
 "As insurance claims rise, premiums to go up")
General insurers consider risk modelling for calamity covers
Insurers suffered losses Rs 10,000-cr losses in past three years owing to natural calamities
 "General insurers consider risk modelling for calamity covers")
Telenor adds 4 mn subscribers to free life insurance scheme
Company has more than 11 mn subscribers UP East circle
 "Telenor adds 4 mn subscribers to free life insurance scheme")
General insurers look at risk modelling for natural catastrophe covers
Insurers consider these steps as losses through catastrophes have risen in the past two years
 "General insurers look at risk modelling for natural catastrophe covers")
Diluting stake in insurance subsidiaries to take time: SBI
The bank has already announced plans to lower its stake in insurance ventures - SBI Life Insurance and SBI General
 "Diluting stake in insurance subsidiaries to take time: SBI")
New India Assurance reports profit of Rs 747 cr for April-December period
The company recorded a global premium of Rs 13,219 cr, recording a growth of 14.42%
Insurance industry seeks hike in tax exemption limit
Suggestions part of insurance sector wish-list for Budget 2016-17 to be presented on Feb 29
 "Insurance industry seeks hike in tax exemption limit")
Price correction needed in non-life sector, says IRDAI chairman
Says some revision in pricing is required especially in areas like insurance for natural catastrophe
 "Price correction needed in non-life sector, says IRDAI chairman")
LIC invests Rs 53,000 cr in equity markets
Chairman S K Roy says they have been net buyers this year since markets have been down
 "LIC invests Rs 53,000 cr in equity markets")
LIC to launch its e-services today
Policyholders can pay premiums, access claim status, get renewal information, among others
SBI Life eyes 30-35% growth over next 3 years
Company expects 40% rise in new business premium this financial year
 "SBI Life eyes 30-35% growth over next 3 years")
 "Mis-selling topmost complaint in life insurance, but declining slowly")
Edelweiss Tokio receives Irdai approval to raise foreign stake
Tokio Marine to infuse over Rs 525 cr to fund expansion plans
 "Edelweiss Tokio receives Irdai approval to raise foreign stake")
We're looking at acquisition opportunities: Rajesh Sud
Interview with MD & CEO, Max Life Insurance
 "We're looking at acquisition opportunities: Rajesh Sud")
Product mis-selling top-most complaint in life insurance but shows y-o-y decline
The finding was made by Integrated Grievance Management System, the repository of the insurance industry complaints
 "Product mis-selling top-most complaint in life insurance but shows y-o-y decline")
Kotak Life Insurance launches new product in UP
Kotak Premier Life is a limited premium payment and participating whole-life plan
Apollo Hospitals Group to sell 23.3% stake in Apollo Munich Health Insurance
The deal values the insurer at Rs 703 crore
 "Apollo Hospitals Group to sell 23.3% stake in Apollo Munich Health Insurance")
Budget 2016: Insurers seek tax sops for term, home insurance in Union Budget
Say that products with long term tenure of over 10 years must be given more breaks than current limit of Rs 1.5 lakh
 "Budget 2016: Insurers seek tax sops for term, home insurance in Union Budget")
Insurance sector may get over Rs 12,000 cr FDI in 2016: Assocham
The investment push has come as a result of liberalisation of foreign investment ceiling from 26% to 49%
 "Insurance sector may get over Rs 12,000 cr FDI in 2016: Assocham")
Alice Vaidyan new CMD of GIC Re
Vaidyan to hold the office of the national reinsurer till July 2019; she is also the first chairperson in the Indian insurance industry
 "Alice Vaidyan new CMD of GIC Re")