Page 5 - Insurance Sector

We should just go for unified licences; must open up distribution: Singhel

Human memory is very short. The demand for health insurance is still fine, we still have a double digit growth, Tapan Singhel said

Consumer protection: Insurer must prove, not infer, pre-existing ailments

The State Commission noted it could not be inferred from the medical certificate that these ailments were present when the policyholder purchased the policies

LIC appoints Ramakrishnan Chandar as new Chief Investment Officer

As CIO of the Life Insurance Corporation of India, Ramakrishnan Chandar will oversee one of the country's largest investment portfolios spanning multiple asset classes

FM directs public insurers to adopt AI, expand portfolios for new risks

FM asks state-run insurers to tackle emerging risks like cyber fraud, diversify products, use AI for pricing and claims, improve penetration and transform digitally

LIC eyes higher non-par product mix to boost margins post Q4 surge

Life Insurance Corporation sees strong profit growth in Q4FY25 and plans to increase focus on high-margin non-par products while expanding its agent base and channel mix

Axis Max Life MD, CEO Prashant Tripathy to step down by September 2025

Tripathy, associated with the company since 2007, has served as MD and CEO for the past six years

Bharti AXA Life Insurance plans to break even by FY27: MD & CEO Parag Raja

Parag Raja outlines the 5-year roadmap of Bharti AXA Life Insurance

We should be third-largest listed pvt insurer in 3 yrs: Prashant Tripathy

Axis Max Life Insurance managing director and chief executive officer talks about the company's strategy for 2025-26

LIC push lifts life insurers' new business premiums in April, shows data

India's life insurance industry saw an 8.43 per cent rise in new business premium in April, led by LIC's group premium growth, though policy issuances fell over 13 per cent

Indo-Pak tensions trigger rise in war insurance cover enquiries from firms

Most commercial insurance policies exclude war cover but companies are seeking protection under aviation, marine and political violence categories amid rising tensions

Hike Motor TP rates, cut GST on health premiums: Non-life insurers to govt

DFS Secretary urges insurers to improve claims processing in order to reduce customer inconvenience

FSIB recommends Sanjay Joshi as Oriental Insurance Company Limited's CMD

Sanjay Joshi, currently GM at United India Insurance, recommended by FSIB to lead Oriental Insurance as CMD, following R R Singh's retirement in February

Demand for D&O liability insurance rises 25-35% in FY25, says report

Policybazaar reports surge in demand for D&O insurance in FY25 driven by board accountability, ESG lapses, IPO activity, and increased scrutiny of leadership risks

Non-life insurers to meet DFS secy for revision in motor third-party rates

Cession is the portion of insurance premiums that insurers pass on to a reinsurer, in this case, GIC Re

Go Digit General Insurance's Q4 net profit up 2.2 times at ₹115.61 crore

The expenses of the insurer rose by nearly 9.39 per cent Y-o-Y to ₹2,426.12 crore

BFSI consolidates dominance in Nifty 50 index, up 2.6x at 37.9% since 2004

The sector's dominance in the Nifty index comes on the back of a 50x increase in market capitalisation over two decades

ICICI Lombard Gen Insurance Q4 results: Net profit slips 2% to Rs 510 cr

ICICI Lombard on Tuesday reported a 2 per cent decline in net profit to Rs 510 crore for the fourth quarter ended March 31. The company had reported a post-tax net profit of Rs 520 crore in the year-ago period. However, the total income of the company rose to Rs 5,851 crore in the quarter under review compared to Rs 5,165 crore in the year-ago period. The gross direct premium income of the company improved to Rs 6,211 crore against Rs 6,073 crore in the same quarter a year ago, registering a growth of 2.3 per cent. The board have recommended a final dividend of Rs 7 per equity share or 70 per cent of face value of Rs 10 each for the financial year ended March 31, 2025, ICICI Lombard said in a regulatory filing. The solvency ratio was 2.69 times at March-end 2025 against 2.62 times on March 31, 2024, higher than the minimum regulatory requirement of 1.5 times.

Result preview: Insurers stare at weak Q4 on growth and margin pressure

Life segment players may report flat profit; claims, new norms to weigh on general insurers

Irdai warns Heritage TPA against unilaterally closing health claims

The order is in response to the remote inspection conducted by the authority from November 8, 2021 to November 11, 2021

Term insurance for self-employed: Besides securing family, cover biz debt

Families of the self-employed face significant financial uncertainty upon the policyholder's death