Page 7 - General Insurance

Insurance Gazette: Need to retain the learnings and transform further

Industry leaders speak about the challenges the industry has faced over the past year, fintech, and how the pandemic is shaping consumer behaviour

Insurance Gazette: Some discipline is needed in the healthcare ecosystem

Industry leaders speak about the learnings over the past year and the opportunities for progress that the pandemic has provided

BS BFSI INSIGHT SUMMIT | Session on General Insurance & Life Insurance

Watch Business Standard's BFSI Insight Summit as the best minds of the industry engage in a stimulating conversation on the state of life and general insurance >

Shriram General Insurance expects Rs 750 cr underwriting profit this year

Jaipur-based Shriram General Insurance, which is primarily into motor insurance with over 90 per cent of the business coming in from this vertical, is expecting around Rs 750 crore underwriting profit this fiscal as its expects gross written premium income to touch Rs 2,200-2,300 crore. The Chennai-based Shriram Group firm has closed H1 of the fiscal with around Rs 800 crore in premium income and expects it to nearly treble in the second half on the back of the better-than-expected economic recovery, says Anil Aggarwal, the managing director & chief executive of Shriram General that was the first general insurer to underwrite only motor premia when it began 13 years ago. Shriram General Insurance, which manages Rs 10,500 crore of AUM which it expects to cross Rs 50,000 crore over the next five years, is a joint venture between Shriram Capital, the group holding company, and the South African financial services group Sanlam, and was set up in 2009. Today it's the seventh largest ...

Delay in getting strategic investor a concern for Rel Gen: Brickworks

RGICL faces competition from the private as well as public sector general insurance companies in India

Reliance General Insurance Q2 net profit rises 18% to Rs 73 crore

Reliance General Insurance Company Ltd (RGI) on Wednesday reported an 18 per cent rise in net profit at Rs 73.34 crore for the quarter ended September 2021. The insurer had posted a net profit of Rs 62.19 crore in the same quarter a year ago. However, the profit was down sequentially from Rs 75.78 crore in the June 2021 quarter. Total income of the company rose to Rs 199.70 crore during July-September period of FY22, as against Rs 193.22 crore in the year-ago quarter, RGI said in a regulatory filing. Final dividend of Rs 0.04 per equity share for FY21 has been accounted for during the September 2021 quarter, it added. The company further said its board of directors during its meeting on Wednesday noted the resignation, dated September 14, 2021, of Mohan Khandekar as the company secretary and chief compliance officer. He will be serving his notice period, it added.

ICICI Lombard reports marginal increase in net profit at Rs 446 cr in Q2

As the company has merged Bharti Axa General Insurance business with itself, the numbers are not comparable with the previous year's numbers

Street likely to view general insurers favourably

Stocks of listed players ICICI Lombard and New India Assurance have lagged in FY22, so far

Indian insurance sector: Shakeout or promoter exits to happen?

Mixed views were expressed by insurance industry officials

Madras HC puts order on bumper-to-bumper cover for new vehicles on hold

Will hear the General Insurance Council on September 13

Bill to privatise state-run general insurance cos gets Parliament nod

A bill to allow privatisation of state-run general insurance companies got parliamentary assent on Wednesday after Rajya Sabha passed it with a voice vote amid tearing of papers

Non-life insurers' premium up 19.46% at Rs 20,000 crore in July

In July, non-life insurers - 33 in total - earned premiums to the tune of Rs 20,171.15 crore, against Rs 16,885 crore in the same month last year

Parliament passes bill for privatisation of state-run general insurers

The General Insurance Business (Nationalisation) Amendment Bill, 2021, was passed by the Lok Sabha on August 2.

Hike in health premiums of products imminent: IFFCO Tokio MD & CEO

Anamika Roy Rashtrawar delves on raging issues in the general insurance sector such as high claims in the health segment and motor insurance returning to a growth path

Amendment to aid insurers' privatisation tabled in the Lok Sabha

General Insurance Business (Nationalisation) Amendment Bill, 2021, will allow private participation in public sector insurance companies

Bill to amend general insurance law introduced in Lok Sabha

Several opposition members had opposed the introduction of the bill, saying it will bring in foreign investors and entail total privatisation of PSU general insurance companies.

General insurance industry to grow at 7-9% in fiscal 2022, says ICRA

The growth in FY20 was strong for both PSU and private sector players which increased market share in FY21.

No immediate worry about solvency due to surge in Covid claims: Irdai chief

Irdai Chairman Subhash Chandra Khuntia talks to Subrata Panda on a range of subjects including shareholding of banks in insurance firms

IRDAI proposes regulations for designing, pricing of insurance products

Regulator IRDAI on Monday came out with draft regulations for the designing and pricing of general insurance products with a view to protecting the interest of policyholders.

ICICI Lombard: Leadership position supersedes other issues for investors

Higher investment gains continue to compensate for underwriting losses; improving product mix is positive