Page 74 - Insurance News
Insurers to increase rural, social sector business as they grow older in industry: IRDAI
As per rules, every insurer, who begins to carry on insurance business has to ensure that it undertakes social, rural sector obligations
 "Insurers to increase rural, social sector business as they grow older in industry: IRDAI")
Maha tops in non-life premium, Delhi number one in insurance density
New Delhi had mobilised premium of around Rs 5,000 crore and has got the highest insurance penetration of 1.34% and density of Rs 3,228 in 2013-14
 "Maha tops in non-life premium, Delhi number one in insurance density")
Stake dilution in SBI Life to be finalised in 3-4 months
Last month, SBI decided to divest up to 10% stake in its life insurance venture
 "Stake dilution in SBI Life to be finalised in 3-4 months")
Insurers keeping away from perpetual bonds
Insurance companies also say that as the instruments are a mix of debt and equity, they are not comfortable investing in them
 "Insurers keeping away from perpetual bonds")
Banks enrol 63 mn people under Jan Suraksha schemes
Among banks, SBI has highest enrolments at 16.8 million
 "Banks enrol 63 mn people under Jan Suraksha schemes")
Customer loyalty has improved in insurance: IMRB International study
Findings show that compared to other channels like Bancassurance, customers who bought through agents have weaker perceptions about the companies
Swiss Re appoints Kalpana Sampat as Principal Officer and Managing Director
She served 15 years as chief of Customer Service and Operations at ICICI Prudential Life Insurance
BCCL to buy out Religare stake in life insurer
Bennett, Coleman and Company Limited has been a stakeholder in the life insurer ever since its inception in 2008
 "BCCL to buy out Religare stake in life insurer")
Deepak Iyer appointed as MD & CEO of Bharti AXA General
He is expected to join by June-end
 "Deepak Iyer appointed as MD & CEO of Bharti AXA General")
Irdai proposes to tighten registration norms
According to the draft, new companies being registered will need to comply with the provision of "Indian owned and controlled"
 "Irdai proposes to tighten registration norms")
Jan Suraksha: Social security for masses, pricing woes for insurers
Insurers and banks have said they won't be able to earn significant revenue from these schemes
 "Jan Suraksha: Social security for masses, pricing woes for insurers")
One year on, e-insurance still to catch up
Not even 10% of all policies in the industry have been digitised, due to resistance from both, industry players and customers
 "One year on, e-insurance still to catch up")
Bharti's insurance ventures' valuation grows mutliple times
Valuation of stake grew 10 times in general insurance and 21 times in life insurance
 "Bharti's insurance ventures' valuation grows mutliple times")
'Motor products get highest preference online in non-life insurance segment'
The finding was part of a joint report by Google India and ICICI Lombard General Insurance
 "'Motor products get highest preference online in non-life insurance segment'")
Canara Bank ties up with LIC to launch insurance schemes
Pradhan Mantri Jeevan Jyoti Yojana will be launched nationwide on May 9
 "Canara Bank ties up with LIC to launch insurance schemes")
Star Union Dai-ichi Life achieves breakeven in sixth year
Insurer's maiden profit in FY15 stands at Rs 13 cr; new premium business up 12% at Rs 630 cr
Tata AIA Life launches money back plan
Plan offers protection solution including built-in double coverage for accidental death
 "Tata AIA Life launches money back plan")
LIC ups its stake in NMDC by 2% at Rs 1,116.17 cr
Govt as promoter company owns 80% equity in NMDC
 "LIC ups its stake in NMDC by 2% at Rs 1,116.17 cr")
Transfer of shares in insurers that leads to shareholding change not allowed: IRDAI
The regulator said that they would conduct their own due diligence for approval of such a transfer
 "Transfer of shares in insurers that leads to shareholding change not allowed: IRDAI")