Page 27 - Insurance Sector

SBI Card sees over 50% transaction from online payments, says CEO

SBI Card has been seeing over 50% of its transactions via online payments such as on groceries, insurance premium, and hopes the trend to go up further as point of sale purchases are yet to pick up

GramCover plans to be one-stop shop for rural insurance needs: CEO Bhatt

The company was founded in 2017-18 by a clutch of private equity firms

Expect top-line growth to return from March quarter: N S Kannan

We were an 82 per cent ULIP company but today we are at 48 per cent. So, we have been able to transform the product mix, says ICICI Prudential Life Insurance's Kannan

Bill to increase FDI limit in insurance sector gets Parliament's nod

The bill raises the limit to 74 per cent

BJP govt wants to hand over insurers to foreign firms: Congress' Kharge

The Congress on Friday said the BJP government wants to hand over the control of Indian insurance firms to foreign players

Irdai nudges insurers to facilitate immunisation for policyholders

Irdai on Friday directed insurers to make special arrangements to facilitate inoculation of the eligible people at government or private hospitals

LIC employees protest in Ludhiana against insurance sector's FDI limit hike

LIC employees staged a protest in Ludhiana against the government's decision to raise the Foreign direct investment (FDI) limit in the insurance sector to 74 per cent and to bring an IPO of the LIC

LIC eases policy claim settlement process to mitigate customer hardships

To mitigate the hardships faced by customers due to the pandemic, LIC said policyholders can deposit their maturity claim documents at their nearest LIC office anywhere till the end of the month.

RS adjourned four times amid uproar over bill on raising FDI in insurance

The Congress and other Opposition parties Thursday forced adjournments of Rajya Sabha proceedings for four times during the post-lunch sitting

Nirmala Sitharaman to move Insurance Amendment Bill 2021 in RS today

Union Finance Minister Nirmala Sitharaman will move the Insurance (Amendment) Bill 2021 in Rajya Sabha for passing on Thursday

Relay Strike: PSU non-life & life insurance staff to go on strike

It is going to be a relay strike by unions in the public sector financial services sector domain

Covid-19 insurance claims spike as infection cases surge in March

Insurers have received 938,640 claims, of which 796,247 have been settled

FM Sitharaman introduces Bill in Rajya Sabha to allow 74% FDI in insurance

The government had earlier allowed 100 per cent foreign direct investment in insurance intermediaries

Vidal Health Insurance buys Vipul MedCorp TPA for an undisclosed amount

In general, these admin­istrators are independent, but can also act as an entity belonging to the insurers

Govt proposes to hike in LIC's authorised capital to Rs 25,000 cr

The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India (LIC)

FDI hike in insurance sector likely to see mixed response, say experts

No fresh capital will come in, unless the foreign partner decides to infuse funds after raising its stake.

ICICI Lombard board approves Rs 4/share interim dividend for FY21

ICICI Lombard General Insurance has approved an interim dividend of Rs 4 per share for the current fiscal in the midst of a pandemic year

How insurance sector will gain from FM Sitharaman's Budget booster

What do the Budget proposals, as well as the proposed LIC IPO and privatisation of one general insurance company mean for the sector? Nikita Vashisht explains

Govt amends rules, brings insurance brokers under ombudsman ambit

Policyholders can also now file online complaints

Health insurance companies get over 900K Covid-19 claims, settle 84%

Overall, the insurers have settled almost 84 per cent of the claims in terms of the number of claims, and 52 per cent in terms of the amount of claims