Page 78 - Insurance News
Insurers with bank promoters to seek clarity on caps on business from one entity
Irdai said corporate agents cannot get more than 90 per cent business from one insurer in one category in the first year
 "Insurers with bank promoters to seek clarity on caps on business from one entity")
Banks' exclusive sales tie-ups with insurers set to end
Each corporate agent can tie up with up to three insurers, in the life, general and healthcare categories
 "Banks' exclusive sales tie-ups with insurers set to end")
 "Low rise for motor third-party insurance premiums")
Motor third party premiums to see marginal hike for FY16
For private cars and two wheelers, rates from April 1 would only go up by Rs 65-340 in this segment
 "Motor third party premiums to see marginal hike for FY16")
Bajaj Allianz Life launches Young Assure
Bajaj Allianz Young Assure comes with an in-built premium waiver feature in case of an unfortunate event
 "Bajaj Allianz Life launches Young Assure")
Bharti Axa to reduce focus on group health plans
The company enters travel insurance segment with launch of SmartTraveller
 "Bharti Axa to reduce focus on group health plans")
Life insurance sector may end year with new premium growth
LIC, the largest player, has seen a 40% growth in March 2015 in new premium compared to February 2015
 "Life insurance sector may end year with new premium growth")
No IPO plan from general insurance firms
Poor valuations, problems in claim ratios, staff opposition for state-run units among issues to be addressed
 "No IPO plan from general insurance firms")
Insurance industry favours 40-50% hike in 3rd-party motor premium
On March 9, regulator had proposed an increase in the third-party premium, ranging between 14% and 108% from April 1
 "Insurance industry favours 40-50% hike in 3rd-party motor premium")
Indians have misconceptions about health insurance: Survey
The study was conducted to understand how health insurance is perceived, bought and utilised in India
 "Indians have misconceptions about health insurance: Survey")
Digitised policies to soon be mandated for high premium policies
Insurance repositories will be involved in the process of maintaining these policies in a digital format
 "Digitised policies to soon be mandated for high premium policies")
Reserve Bank on loans in areas hit by natural calamity
A National Crop Insurance Programme was implemented from 2013 and loanee farmers are compulsorily covered under this component scheme
 "Reserve Bank on loans in areas hit by natural calamity")
LIC sees 40% growth in new premiums in March
Plans to launch Ulip soon; looks at investing in 20-year, 40-year bonds
 "LIC sees 40% growth in new premiums in March")
Overhaul brakes on insurance scheme for poor
Sector players await government's decision on future of Rashtriya Swasthya Bima Yojana
 "Overhaul brakes on insurance scheme for poor")
Reliance Life to add 20,000 agents next fiscal
The company has been able to clock new business premium of Rs 1,100 crore in the current fiscal
 "Reliance Life to add 20,000 agents next fiscal")
Global reinsurers entering India to be win-win for customers
To get better pricing, products suited for the market based on global expertise
 "Insurance next focus area after Jan Dhan: Hasmukh Adhia")
'Customer-centric biz way forward for insurance'
The insurance industry was the 16th largest market and was expected to be one of the top 10 markets by 2025
 "'Customer-centric biz way forward for insurance'")
Insurance sector set for upgrade; may get $ 8-10 bn in FDI
Analysts are upbeat about the growth in the sector and expect a number of IPOs and M&A deals
Motor insurance loss likely to be steeper from FY16
The regulator has made it mandatory for insurers to have a minimum percentage of motor third-party business underwritten
 "Motor insurance loss likely to be steeper from FY16")