Page 6 - Insurance Sector

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

Non-life insurers' premium touches Rs 3 trillion mark in FY25 amid slowdown

The 6.2 per cent increase in premiums collected come in the backdrop of slowing economic growth in the closing quarters of FY25 and a change in accounting norms

Non-life insurers' premium grow 6.2% to Rs 3.08 trillion in FY25

The general insurers' premium grew by 5.20 per cent Y-o-Y to Rs 2.58 trillion at the end of FY25

Honest, full disclosures key to hassle-free health insurance claims

Customers must disclose habits like smoking and alcohol consumption honestly, regardless of frequency

LIC rejects USTR's claim of having unfair advantage as state-owned firm

Sovereign guarantee has never been used as a marketing tool for policies, says company

Reinsurance renewal rates likely to see a drop of up to 10% in FY26

Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk

Insurance sector sees record Rs 38,000 crore worth of deals in 2 weeks

The past fortnight saw a slew of big-ticket deals in the insurance sector, with the biggest of them being a Rs 24,180 crore acquisition by Bajaj Allianz

Insurance sector sees record deals worth over Rs 38,000 crore in two weeks

The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore

Govt approves Swaminathan S Iyer's appointment as Irdai Life Member

He is appointed for five years from the date of assumption of charge or until he attains the age of 62 years or until further orders, whichever is earlier

Star Health Insurance's shares hit 52-week low amid reports of Irdai probe

Company calls it a routine exercise to ensure compliance

Former SBI & LIC chiefs among new members of Irdai's advisory panel

The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval