Page 5 - Insurance Firms

Govt may set up GoM to expedite merger of three insurance companies

Frail financial health of firms, difference of opinion among depts creating a roadblock

EY sets 18-month timeline for merger of three insurance companies

It will also conduct a valuation exercise of the assets of the firms

Govt insurance firms post huge losses as merger delay hits business

The three insurance companies have posted high losses in Q2FY19, given their premium growth reduced and provisions rose. Multiple reasons accounted for the losses

Insurers pull out $4 billion from equities in 2017

Domestic insurance firms sold stocks for the eight consecutive month in August, taking their year-to-date net sales past the $4-billion mark. This contrasts sharply with the inflows from domestic mutual funds and the buying spree by foreign portfolio investors (FPIs), which have net-bought Indian stocks this year.Insurers are one of the largest drivers of Indian stocks, besides foreign institutional players. In the past, insurance firms such as Life Insurance Corporation of India (LIC), the country's largest insurer, have helped prop up the market against steep falls. Year to date, India's benchmark Sensex has risen about 19 per cent. In this period, FPIs have net bought shares worth $7.1 billion, while mutual funds have shopped for stocks worth $10.8 billion. Insurers, on the other hand, have sold shares worth $4.3 billion.According to experts, Indian stocks have become expensive and there is a bias away from stocks, but recent outflows have been led by redemption (withdrawal) ...

Insurance firms tap blockchain for ease of transaction

13 companies to create pool of policyholder data; to lower cost for insurers

Indian insurance firms lag globally in digitisation: Report

Says will need to adopt technology required to launch products that meet customer needs

Insurers pull $1.9 bn from stocks

Remain net sellers for six months in a row, in a sharp contrast to foreign portfolio investors, domestic mutual funds