Page 11 - Insurance Companies

NITI Aayog recommends privatising United India Insurance Company

Core group to soon consider the proposal to privatise the insurer

Navi General gives customers option to buy health insurance through EMIs

Customers can purchase health insurance at monthly installments of as low as Rs 240 per month.

Bajaj Allianz declares Rs 1,156 cr bonus for participating policyholders

This includes one-time bonus of Rs 315 cr, over and above regular bonus; company says it is the 20th consecutive year that it is declaring a bonus

As Covid-19 vaccination slows down, insurers insist customers take jabs

Only 3.2% of India's population has been fully vaccinated with two shots

Insurance companies seek early implementation of IFRS from govt

Currently, India follows the old solvency standards where insurers have to hold a percentage of reserve as capital.

Govt notifies solvency rules for foreign-owned insurance companies

Rules mandate 50% profit in general reserve if solvency margin is not maintained after profit repatriation, half the board should consist of independent directors

Insurance companies can provide cover to investors in tough times

Firms will gain if they do a balancing act between claims and income

Betting on power: Insurers line up to invest in PGCIL and IndiGrid InvITs

The first power transmission InvIT of the country, IndiGrid, came out with a public issue of NCDs to raise up to Rs 1,000 crore last week

Life insurance companies' new premium business up 45% at Rs 9,739 crore

While the NBP of private insurers, 23 in total, grew 55.18 per cent over the same period last year, state-owned Life Insurance Corporation reported 35.6 per cent growth

Insurers see adverse impact of Covid-19 claims on their loss ratio

Indian insurers had not factored in the impact of Covid claims while underwriting their products

FinMin asks state-run banks, insurers to postpone staff promotions

The advisory issued by the DFS states that the promotion process has coincided with a spike in Covid-19 cases across the country along with localised lockdowns

Climate change could cut world economy by $23 Trn in 2050: Swiss Re warns

Poor nations would be particularly hard hit, but few would escape, Swiss Re said. The findings could influence how the industry prices insurance and invests its mammoth portfolios

How GIC's ownership problem is keeping insurance biz from growing up

Government shareholding and preferential regulation have skewed the reinsurer's efficiency and, by extension, that of the non-life insurance industry's too

The second wave: Insurers brace for rise in Covid-19 policy claims

The insurers have received more than a million Covid-related claims as of April 10, 2021

True North sells Policy Bazaar stake to Serum Institute, four others

True North disclosed neither the quantum of stake sold nor the value

Insurance companies on hook for millions tied to Suez Canal crisis

Two tugboats speed to the canal, dredgers have shifted 27,000 cubic metres of sand

Irdai asks insurance companies to register message template with telcos

Irdai said, the new framework by the telecom regulator is to enable policyholder protection

Covid-19 impact on claims may force insurers to review prices: Irdai exec

General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur

As 6 pvt insurers set to increase term plan premiums, LIC won't raise rates

While several big players had raised rates last year, following the outbreak of the Co­vid-19 pandemic, LIC did not do so and it has no plans to do it now, sources in the company said

Finance ministry cracks the whip on insurance companies for ignoring MSMEs

Reluctant insurers have failed to offer the cover especially curated by the ministry following the UK Sinha panel's recommendations