Page 68 - Insurance News

Neelesh Garg appointed MD and CEO of Tata AIG General Insurance

Garg was earlier executive director at ICICI Lombard General Insurance

General insurers' motor problem

Third-party claims mount in this segment on account of past policyholders, with the permitted later recovery an uncertain procedure; annual loss estimated at Rs 500 cr or more

IRDAI to look into financial position for giving listing approval to non-life, health, reinsurers

Regulatory record and capital structure post issue prior to giving approval will also be taken into consideration

Incurred claim ratio will lead to premium reduction: Irdai

Demand for solar project insurance picks up

There is not only an increase in solar projects, but a rise in international investment as well

Royal Sundaram Alliance to increase presence in health, commercial insurance

The company plans these businesses to have a better share in the GWP of Rs 4,000 crore expected by 2020

Star Union Dai-ichi Life expects 30% growth in new premiums in FY16

Dai-ichi Life of Japan to raise stake to 44% in insurer once Bank of India off-loads 18%, formal application to FIPB to be made

Swiss Re finds big gaps in insurance coverage

Finds that mortality protection gap has seen 11% CAGR from 2004-2014 in India

Life insurers' new premium grows by 13.8% in April-August period

Life insurers collected first year premium of Rs 45,871 cr during April 1, 2015 to August 31, 2015 for the period as compared to Rs 40,296 cr

Irdai issues guidelines for social, rural sector obligations

5% of total policies to be in social sector from 10th year

Insurance honchos to face variable pay clawbacks

Factors like persistency, claims settlement, grievance redressal to play part in pay

Indians may be considered for all top posts at insurance companies

While raising their FDI in these companies to 49% might get foreign partners a higher shareholding, their role will be limited

Jan Suraksha insurance faces fraud claims

Almost all insurers, private and public, taking part in the scheme have faced fraudulent claims

FinMin says no plan to take general insurance companies public

All state-owned general insurers are well-capitalised and don't need capital through IPOs, says head of one such firm

Future Generali eyeing Rs 4,000 cr of gross written premium

The company says its open for partners to expand distribution network in the country

No forceful selling of insurance: Irdai tells banks

Corporate agents guidelines says they can tie-up with three life, non-life and health insurers each; not mandatory

IRDAI may look for Indian faces in all top posts in insurers

While FDI hike by foreign partners to 49% may get them a higher level of shareholding, their role would be limited

Foreign partners' role in insurance ventures to face tougher scrutiny

IRDAI seeks to curb their veto power, board decisions and product strategy, may also insist on Indian chairman

Kotak Mahindra Old Mutual Life eyes 25% growth in new premium

Renewal premium business grows closer to new premium business

Cyber insurance market to touch $7.5 bn globally by 2020: PwC report

The report also showed that 7% of insurance CEOs and 79% of banking CEOs perceive it as a future growth threat