Page 33 - Insurance

Covid provision pool lowered, but 'we got you covered': Life insurers

As claims burden drops, life insurers hold enough reserves, cushioning balance sheet against risk

How to build a health corpus if you're unable to get medical insurance

Also try to join a group health plan at the office, bank or one covering your professional group

Finance ministry invites applications for Irdai whole-time member post

The applicant should preferably have at least 25 years of experience in the area of insurance

Insurers seek hike in tax exemption for higher adoption of pure risk plans

Currently, under Section 80C of the Income Tax Act, an individual can claim a deduction of the life insurance premium paid from his/her taxable income

Street positive on Tech Mahindra's 310 million Euro acquisition

The deal will boost its digital and engineering R&D capabilities in BFSI space

Exide Life appoints Sanjay Vij as Executive Director and Principal Officer

Exide Life has announced the appointment of Sanjay Vij as the Executive Director and Principal Officer with effect from January 10. On January one, 2022, HDFC Life Insurance Company Limited announced the completion of the acquisition of Exide Life Insurance Company Limited, subsequent to receiving all relevant regulatory approvals, an Exide Life statement noted on Monday. Pursuant to the agreement, there was a cash pay-out of Rs. 726 crore and 8,70,22,222 equity shares at an issue price of Rs 685 per share were allotted to Exide Industries Limited. Exide Industries now holds 4.1 per cent stake in HDFC Life. The process for merger of Exide Life into HDFC Life will be initiated shortly, the statement said. Vij joined HDFC Life in July 2001. As the Group Head - Bancassurance and Chief Values Officer (CVO) in HDFC Life, he was responsible for managing the P&L, market growth, and business of crucial bancassurance channels, it was stated.

Non-life insurance firms register 7% rise in gross premium at Rs 18,953 cr

The non-life insurance companies had underwritten gross premium valuing at Rs 17,662.32 crore in December 2020

Insurance cover likely for traders under national retail trade policy

Proposed national retail trade policy to support kirana stores

Life insurers' new biz premium flat in Dec, but rises 10.5% in Q3

In Q3 of FY22, insurers earned NBP to the tune of Rs 73,249.97 crore

Life insurers' new biz premium income nearly flat at Rs 24,466 cr in Dec

The new business premium, or the first year premium, of 24 life insurance companies had stood at Rs 24,383.42 crore in December 2020

Irdai seeks to revise formula for fixing insurers' obligation for Motor TP

The regulator has asked for comments from stakeholders, which they have to submit by January 25

15-year cap on tenure of MD, CEOs of insurance companies on cards

Proposed remuneration to be divided between fixed/variable pay, perquisites

IRDAI caps value of surety insurance contracts at Rs 500 crore

The IRDAI has also stipulated that the non-life insurers wanting to underwrite the surety insurance risks should have a solvency margin of 1.25

Covid insurance policies will also cover Omicron treatment costs: Irdai

The regulator has issued the directive to general and health insurers in view of the growing number of cases of the Omicron variant

HSBC wins regulatory nod to take over insurance business in China

HSBC will buy the remaining 50% stake in HSBC Life China from The National Trust Ltd

Irdai directs Go Digit to withdraw product offering life insurance benefits

The Insurance Regulatory and Development Authority of India (Irdai) also asked the insurer to wthdraw advertisements regarding the product from all media

Incurred claims of standalone health insurers grow at slower pace in FY21

The incurred claims of the overall general insurers too grew at a lower rate of 2.92 per cent compared to 7.26 per cent during financial year 2019-20

MFIN to launch natural catastrophe insurance cover for micro borrowers

The MicroFinance Institutions' Network is planning to introduce this product with Cholamandalam MS General Insurance as insurer

LIC warns of legal action over misuse of its logo on social media

LIC has asked the public not to fall prey to proposals which are misusing its logo on social media platforms like Twitter, Facebook, Instagram and YouTube and other social media

Deposit insurance reforms to instil confidence in people on banking: PM

At Vigyan Bhawan, the Prime Minister said banks play an important role in the progress of any nation