Page 91 - Insurance News

Irda tightens norms on group insurance, immediate annuities

Discounts, loadings more than 30% of premium in group have to refiled

Ministry drops health rider for 49% FDI in insurance

Proposal caps voting rights at 26% and insists on local CEO and majority Indian directors

Govt proposes 49% FDI in insurance, caps voting rights to 26%

Proposal stipulates that the majority of company's directors should be Indian nationals

Limited liability might lead to third-party motor premium

Non-life insurers have sent a proposal to the ministry to consider a model of TP covers with fixed limits

Life insurers use specialised tools to manage persistency

Use analytics and persistency management systems to boost renewals

Fund managers write to PFRDA seeking viable margins for business

In January, PFRDA had said all existing private NPS fund managers and new players would have to take part in a re-application process

Foreign debt issuances drop in first half of 2014

Issue arrangers do not see this as a big drop as they are betting on the second half of 2014

Industrial accident claims soar

However, premiums continue to be soft

ICICI PruLife, StanChart enter into bancassurance tie-up

The new 15 year agreement covers India and 10 other markets and has commenced on 1 July 2014

FM meets insurers; foreign investments top priority

Tax sops unlikely for the sector in coming Budget

Gen insurance cos want tax sops to boost health cover for SMEs

The non-life insurers have raised a demand for raising the limit of income tax rebate under section 80D for providing health cover

'Tax incentives for non-life products will boost penetration'

R Chandrasekaran, Secretary General, General Insurance Council Call to have mandatory public liability policy for public places

Insurance sector to benefit from any hike in invstmt limit: AIG

Exemption limit for individuals under 80C is expected to be hiked by the govt from Rs 1 lakh to Rs 2 lakh

United India emerges winner for insurance scheme to pensioners

The new scheme has been aimed at providing health insurance on a 'cashless' basis with provision to avail assistance up to Rs 2 lakh for four-year period

Private general insurers market share inch up to 44% in FY14

Bajaj Allianz managed a combined ratio of 98.1% in FY14

Insurer-CSC tie-ups might be delayed

Officials say CSCs have not yet begun to sell policies since companies are still in talks on how to use this network

Tata AIG appoints Ishaat Hussain as chairman

Farrokh Kavarana who was the Chairman of the Company for over 14 years has retired

Low renewals, disposable incomes impact insurance penetration

Global reinsurer Swiss Re's sigma study on world insurance in 2013 said India stood 15 with respect to premium volume

India is 15th in world in premium volume: Swiss Re sigma study

Falls from 14 position in 2013; insurance penetration falls to 3.9%

General insurers propose compulsory motor insurance with voluntary liability limit hike

While there will be a liability limit in compulsory motor cover, there maybe an option to buy higher liability limit covers