Page 10 - Insurance Sector

LIC's VNB margin falls short of medium-term target, say analysts

LIC's VNB margins improved by 20 basis points (bps) to 13.90 per cent in Q1 FY25 over the same period last year due to a change in the business mix of the insurer

Non-Life Insurers premiums up 9.3% in July: General Insurance Council

The motor insurance and health insurance segments have been driving the growth in the non-life insurance industry so far in FY25, industry experts suggested

Shriram General Insurance Q1 results: Net profit rises 17% to Rs 114 crore

Plans to increase share of non-motor business to 15%

New India Assurance increases premiums on health insurance by 10%

Amid the surge in medical inflation, other insurance companies are also believed to have increased their health insurance premiums

Costlier term cover: Opt for high claim settlement with low premium

Narrow down prospective insurers' list to well-known players with strong claim settlement ratios, then select one offering lowest price

SBI Life stock scales new high; up 13% in 3 days on strong Q1 performance

The stock of life insurance company was trading higher for the third straight day, and has rallied 11 per cent after the company reported a strong performance in June quarter (Q1FY25).

ICICI Prudential stock soars 8%, hits over 2-yr high on healthy Q1 results

The company reported a healthy Q1FY25 performance, driven by a strong 34.4% APE growth and VNB margin at 24% resulting in a slight miss of around 1% on VNB to Rs 470 crore, analysts said.

LIC stock is up 16% in July on the BSE; what's fueling the rise? Check here

Analysts remain optimistic about the medium-term outlook for the life insurance sector, and expect Retail APE to grow ~12-13 per cent during FY25E.

Irdai imposes penalty of Rs 2 crore on Bajaj Finance, Aegon Life Insurance

Bajaj Finance said that the decision does not have any material impact on its financial, operational, or other activities, the company said in an exchange filing

Irdai may consider implementing risk-based supervision model: Keki Mistry

India's overall insurance penetration reduced to 4% in FY23 from 4.2% in FY22

Insurance firms eye tax reliefs in upcoming Budget to boost penetration

Life insurance companies have called for tax deductions on annuity products as well as lower goods and services tax (GST) on their products

Life insurance companies' new business premium up nearly 23% in Q1FY25

LIC leads with 28% growth in Q1; private players grow 14.6%

LIC's residual stake value surges in top groups on stock market boom

Value of investments in top conglomerates at Rs 4.39 trn, up 37.5%

Tech platform ACESO plans to add 60 more channel partners in FY 2024-25

ACESO, a tech platform in insurance assignment business, is planning to add 60 more channel partners in the ongoing financial year. The company currently has 40 channel partners. "Currently, we have 40 channel partners and we want to add another about 60 more channel partner during this year," ACESO Founder Director Ketan B Mehta said. With this, the total number of partners would cross 100, he said, adding that they will help company grow business by connecting with policy holders and insurance agents. ACESO helps to monetise the endowment policies held by a life assured of LIC, to ensure financial benefits, along with continuation of risk cover till maturity, in cases where the policies are sought to be surrendered or lapsed. The company endeavours to achieve this objective through the assignment of endowment insurance policies of LIC to a registered Trust managed by SEBI registered Trustee viz. Beacon Trusteeship Ltd, Mehta said. He further said the company has recently launch

Star Health aims to double business to over Rs 30,000 cr in 4 yrs: MD

Standalone health insurer Star Health and Allied Insurance Company Ltd., has set a target to double its Gross Written Premium to about Rs 30,000 crore over the next four years, a top official said here on Wednesday. The city-headquartered company had recorded a GWP of Rs 15,254 crore in FY24 and reported a profit after tax of Rs 845 crore up by 37 per cent over last financial year, Managing Director and Chief Executive Officer Anand Roy said. "We are aspiring to grow faster than the industry. Our target is to double our business in the next four years. We have been growing at 22 per cent (Compounded Annual Growth Rate) from FY 2020-24. By FY28, our target is to reach Rs 30,000 crore (GWP). This is an internal target that we have set ourselves...," he told reporters. Since its inception in 2006, Star Health and Allied Insurance Company has approved claims of about Rs 44,000 crore. The doubling of Gross Written Premium would be based on deeper penetration into markets including tier

We will plan for an IPO at right time, right environment: IndiaFirst CEO

Gandhi spoke on the insurer's distribution and product portfolio plans which are expected to drive the premium growth of the company

Don't want to play the price game: Aditya Birla Health Insurance CEO

Bathwal discussed the premium growth and product launches that will support the growth along with the impact of regulatory developments

Insurers eye windfall from proposed satellite-based toll collection system

Lack of regulatory clarity complicates matters on third-party data-sharing

Health insurance application declined? Here's what you need to know

The insurance companies take a decision to provide coverage based on the risk assessment of an individual's medical condition

Opt for deductible to reduce premium, ensure sub-limits are reasonable

The main benefit of a senior citizen plan is witnessed at the time of issuance