Page 31 - Insurance Sector
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
 "Indian insurers to withstand pandemic-led downturn: Moody's")
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
 "Open to opportunities of paring stake in IDBI Bank: LIC's 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
 "Non-life insurers see around 12% growth in December premiums, shows data")
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.
 "IRDAI sets up panel to examine availability of health insurance products")
Razorpay gears up to digitise small businesses; aims at $50 bn TPV by 2021
Due to lack of trust, new merchants usually see 30% higher cart abandonments on the checkout page as compared to established merchants; Razorpay is aiming to change that
 "Razorpay gears up to digitise small businesses; aims at $50 bn TPV by 2021")
New business premium of life insurers decline 26.93% YoY in November
In the April - November period of FY21, NBP of life insurers declined by 1.5 per cent to Rs 1.66 trillion, as against Rs 1.69 trillion in the same period last financial year
 "New business premium of life insurers decline 26.93% YoY in November")
Banks expecting good response as bidders to decide RCap's fate today
Bidders have the option to either buy the entire company or bid for the company's individual assets.
 "Banks expecting good response as bidders to decide RCap's fate today")
Why insurance firms are poised to march past the banks on the stock market
They make up 43% of the m-cap of banks today and many, including LIC, will soon be listed; by contrast, not a single yet-unlisted bank is so massive as to create ripples when it goes public
 "Why insurance firms are poised to march past the banks on the stock market")
PFRDA to finalise guaranteed plan with minimum return by FY21 end
Regulator to raise cap on fee of fund managers; AUM of pension funds increases by 35% to Rs 5.5 trillion
 "PFRDA to finalise guaranteed plan with minimum return by FY21 end")
Double-digit surge in insurance sector by FY21-end: LIC MD Raj Kumar
Growth of the industry had fallen by 19 per cent in April
 "Double-digit surge in insurance sector by FY21-end: LIC MD Raj Kumar")
We expect equity returns to be muted in next 12 months: CIO, HDFC Life
We are taking a balanced approach towards sectors and hence there is no big call on any particular sector, says Prasun Gajri, Chief Investment Officer, HDFC Life
 "We expect equity returns to be muted in next 12 months: CIO, HDFC Life")
Pandemic Pool: Is this the best the insurance sector could come up with?
In case of a calamity, the govt may need to step in to help those at the lower rung of the economic ladder and it may not need the insurance sector as a middleman in those circumstances
Irdai panel recommends forming Rs 75,000 cr pandemic pool under PPP model
The group has recommended coverage for 40-50 million MSME workers initially
 "Irdai panel recommends forming Rs 75,000 cr pandemic pool under PPP model")
ACKO raises $60 million from Munich Re and other existing investors
The digital insurance company had raised around $36 million last year from Binny Bansal and Ascent Capital
 "ACKO raises $60 million from Munich Re and other existing investors")
Traders' body urges govt to probe Chinese investments in Indian startups
In a letter to Commerce and Industry Minister Piyush Goyal, CAIT shared a list of 141 prominent Indian startups claiming they have significant Chinese investments
 "Traders' body urges govt to probe Chinese investments in Indian startups")
Irdai invites applications for innovative ideas under regulatory sandbox
Irdai said it has created a regulatory sandbox with the objective of using new and innovative ideas with a view to accelerate the growth of the sector
 "Irdai invites applications for innovative ideas under regulatory sandbox")
Aditya Birla Sun Life open to consolidation due to Covid-19 disruptions: MD
Kamlesh Rao said that in times of socio-economic crisis like this Covid-19, 30-35% companies find it difficult to survive, while 15-20% firms outshine their peers in respective industries
 "Aditya Birla Sun Life open to consolidation due to Covid-19 disruptions: MD")
It's time for a retrenchment cover
All companies should be encouraged to have an insurance policy that improves the quality of conversation between the management and the employee during layoffs
How bailout for three state-run insurers highlights Irdai's incompetence
The latest bailout also raises concerns about the need for a through relook at the quality of the managerial talent in these companies
 "How bailout for three state-run insurers highlights Irdai's incompetence")
Irdai sets up panel to study feasibility of forming a 'pandemic risk pool'
The group has to submit its report on the subject in the next eight weeks
 "Irdai sets up panel to study feasibility of forming a 'pandemic risk pool'")