Page 28 - Insurance Sector

Max Life Insurance attains highest claim settlement ratio at 99% in FY20

Max Life Insurance on Thursday said it has settled individual claims worth over Rs 562 crore in 2019-20, and attained a settlement ratio of 99.22 per cent during the year.

Bharti AXA Life boosts protection cover segment to expand footprint

The firm has enriched the protection cover segment with the benefits of 'Quit Smoking' and 'Stay Fit' in its life cover solution Bharti AXA Life Flexi Term Pro

Axis entities get Irdai approval to acquire stake in Max Life Insurance

Axis Entities will have the right to acquire another 7 per cent in the life insurance company, in or more tranches

Motor insurance likely to remain muted amid Covid-19, say experts

Experts said this is the result of higher new vehicle sales on the back of strong retail demand during the festive season

Edelweiss Financial Services plans to invest Rs 800 crore in insurance biz

In the general and life insurance businesses, the firm expects to invest Rs 100 cr a year in the next 3-4 years

Retail health continues to shine as motor and crop insurance slide

Till January, the health insurance segment has grown 14.59 per cent to Rs 48,501 crore

Future Generali launches health product with 80% discount on no-claim

General insurer Future Generali has launched a health product offering 80 per cent flat discount on the premium on renewal if there was no claim in the previous year. The health super saver policy offers a straight 80 per discount on the premium on renewal in the second/third year in case there was no claim in the previous year, said Anup Rau, managing director & chief executive of Future Generali India Insurance, which has over 3 lakh health insurance customers. The company is offering the new product in two variants--1X and 2X-- under which the former provides a 80 per cent discount on the premium in the consecutive year in case the first year was claim-free and the later offering 80 per cent more coverage for the family members on an individual sum insured basis. This product also covers a one-day-old infant to a senior citizen who is 70. * * * * * GMR Kannur Duty Free Services launches outlet * GMR Kannur Duty Free Services Ltd (GKDFSL) on Thursday launched its first duty .

Up to 10% of LIC IPO issue to be reserved for policyholders: MoS Finance

Up to 10 per cent of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said

Why higher FDI threshold could deepen, widen market for insurance products

Budget 2021 raised the FDI limit in the insurance sector from 49 to 74 per cent

LIC IPO may hit market in fourth quarter of next fiscal: DEA Secretary

The initial public offering of LIC may hit the market in the fourth quarter of fiscal 2022

Raising funds from investors will be easier: Helios Capital's Samir Arora

FDI in the insurance sector is very realistic, says Samir Arora

Budget 2021: FDI cap hike in insurance may set cash registers ringing

The large insurance companies are well capitalised and backed by very strong Indian partners, mostly banks and large non-banking players

Top headlines: India's budget hikes spending; Myanmar military takes power

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Budget 2021: FDI cap hike in insurance set to attract US, European firms

The country's investment promotion agency, Invest India, expects the insurance market to be worth around $250 billion by 2025

Budget 2021 lays out road map for overhaul of state-run companies

The policy classifies central public-sector companies, banks and insurance companies into four strategic areas

HDFC Life net profit rises 5.9% to Rs 265 cr in December quarter

HDFC Life Insurance reported a 5.89 per cent rise in its quarterly net profit to Rs 264.99 crore

Indian insurers to withstand pandemic-led downturn: Moody's

Indian insurance companies are likely to withstand the economic downturn exacerbated by the coronavirus pandemic, the report said

Open to opportunities of paring stake in IDBI Bank: LIC's Vipin Anand

An increase in economic activity since the unlock process started in June has resulted in an uptick in the business performance of LIC, says LIC MD Vipin Anand

Non-life insurers see around 12% growth in December premiums, shows data

In the April-December period of FY21, the general insurers' premium totalled Rs 1.25 trillion, up 1.14 per cent over last year

IRDAI sets up panel to examine availability of health insurance products

Irdai set up a panel of experts to examine the availability of health insurance products in the country considering the need of the Indian society and recommend suitable products and processes.