Page 9 - Insurance Sector

CCI clears Central Bank of India's stake acquisition in Future Generali

FEL holds direct and indirect investments in the general insurer, Future Generali India Insurance Company Limited, which is a joint venture between the company and Genera Group

Result preview: High Ulip share may weigh on life insurers' Q2 margins

Industry players had previously indicated that their margins will take a hit because of the revised norms

Surrender value norms: Life insurers begin rolling out revised bestsellers

Most major life insurance companies have products in excess of 30. It was becoming difficult for the companies to revise all their products, in accordance with regulations by the deadline

Care Health Insurance shareholders approve Rashmi Saluja's reappointment

Kedaara Capital votes against Saluja's reappointment

From perestroika to glasnost: Efforts underway to make insurance inclusive

All efforts are on to make insurance inclusive and attract global investors. The second, and concluding, part of the column on 25 years of the insurance industry

Parl panel to check insurance sector PSUs, solar corporations's performance

A parliamentary panel, mandated to examine accounts of central public sector undertakings, will scrutinise the performance of insurance sector PSUs and solar power corporations. The Committee on Public Undertakings (CoPU) will also examine the performance of the National Scheduled Castes Finance and Development Corporation (NSFDC). The panel headed by BJP's Baijayant Panda will also evaluate the performance of Sagarmala Development Company Limited (SDCL). With the government's push for renewable energy as the engine of growth, the parliamentary committee will hold a comprehensive performance of Solar Energy Corporation of India Limited (SECI), according to the list of subjects selected by it. The committee selects from time to time for examination such PSUs or subjects as it deems fit. The ministry or the undertaking concerned is asked to furnish necessary material relating to those subjects for information of the members.

Centre brings elders over 70 years under ambit of Ayushman Bharat scheme

With this approval, all senior citizens aged 70 years and above, irrespective of their socio-economic status, would be eligible to avail themselves of the benefits of AB-PMJAY

SBI Life fined Rs 1 cr by insurance regulator for 'violating norms'

IRDAI's says investigation was based on various charges arising from an on-site inspection and several regulations under the Insurance Act of 1938

Life insurers' new business premium rises 22% to Rs 32,644 cr in Aug

Life insurers have recorded a 22 per cent rise in underwriting new business with a premium collection of Rs 32,644 crore in August. The new business premium collection for the first five months of FY25 rose 21 per cent to Rs 1,54,194 crore from Rs 1,27,661 crore in the same period last year, as per the monthly data released by the industry body Life Insurance Council. New business premiums expanded from Rs 26,788.55 crore in August 2023 to Rs 32,644 crore in August 2024, with year-to-date collections growing even more from Rs 1,27,661 crore to Rs 1,54,194 crore this year, according to the council data. Despite the underlying demand for enhanced insurance protection from individual consumers and corporate clients alike, new policy issuances decreased by 1.44 per cent to 23,94,007 in August 2024 compared to 24,28,895 policies sold in the same period last year. Life insurers made net additions of 1,08,147 individual life insurance agents in August 2024 alone, contributing to an overal

Fitch changes global reinsurers' outlook to 'neutral' from improving

Reinsurers, which insure the insurers, have raised their rates in recent years in response to losses from the Covid-19 pandemic, wars and natural catastrophes

Time to book profit in insurance stocks as GST meet looms? Key levels here

Star Health, ICICI Lombard, ICICI Pru Life, SBI Life and HDFC Life stocks have zoomed up to 28% so far in the September quarter. Time to keep track of these key pivot points as per technical charts.

GIC RE gets bids worth Rs 2,300 cr; demand only half of total issue size

Shares of GIC Re, the country's largest reinsurance company, have rallied over 75 per cent in the past one year. The company is currently valued at Rs 69,825 crore

Is it a wise decision to bundle health and life cover plans?

Single policy reduces paperwork and simplifies premium payments

Medi Assist's arm acquires 100% stake in Paramount Health; stock soars 11%

Medi Assist's subsidiary has signed definitive documents for 100 per cent acquisition of Paramount Health Services & Insurance.

Medi Assist Insurance TPA to acquire Paramount Health for Rs 312 crore

Paramount TPA works with 30 insurers and more than 3,000 group customers and retail policyholders

Target GST relief on life, medical insurance smartly to boost accessibility

Tax relief should target pre-packaged term and health policies, ensuring availability to seniors and those with impaired health, thereby reducing their costs

Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth

LIC share of rural policies more than doubled; ULIPs witnessed increased demand in urban areas

Worked a lot on AI... By '30, biz will be 3x current size: Shriram Life CEO

He talks about its growth roadmap, industry outlook, and the need to remove GST on life insurance in achieving insurance for all by 2047

LIC's refusal to assign policies to ACESO will be contempt of court: Mehta

Established in 2018, ACESO monetises the assets of LIC policyholders to ensure maximum financial benefits, especially in cases where the policies are surrendered or lapsed

Health insurance master circular: General insurers seek 2-month extension

Irdai issued a circular on health insurance products in June and asked general/health insurers to offer a wider range of products to customers