Page 7 - Insurance

Cover for natural death begins after the initial waiting period ends

The initial waiting period is meant to safeguard against moral hazard

IPL insurance claims not triggered unless tournament is cancelled: Experts

With IPL suspended for a week amid India-Pakistan tensions, experts say insurance claims will not apply unless the tournament is officially cancelled or war cover is triggered

PB Health raises $218 mn in seed round led by US-based General Catalyst

PB Health, the healthcare venture of PB Fintech, has raised $218 million to set up a 1,000-bed hospital network in Delhi NCR and drive health-tech innovation

DIIs overtake FPIs as dominant investors in Indian markets in March quarter

Value of DII holdings reaches Rs 71.76 trn, 2 per cent higher than their foreign counterparts

IFFCO-Tokio enters surety bonds business to support infra projects

IFFCO-Tokio joins a handful of insurers offering surety bonds to support small contractors and infrastructure projects as segment eyes Rs 3 trillion growth by 2030

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

Life insurance covers death caused by terrorist attacks, with riders

Everyone with financial dependants should purchase life insurance. Individuals residing in sensitive or high-risk areas should make it a priority to buy this policy at the earliest

Indian insurance companies planning $41 bn trade switch to bond forwards

Insurers are in talks with authorities to convert about Rs 3.5 trn ($41 bn) worth of rates derivative contracts into bond forwards. Such contracts offer investors the opportunity to own the securities

NIIT to acquire remaining shares of IFBI, make it wholly-owned arm

NIIT Ltd board has approved the purchase of an additional 19.50 lakh equity shares of NIIT Institute of Finance Banking and Insurance Training Ltd (IFBI) to fully acquire the subsidiary, according to an exchange filing. NIIT holds 80.72 per cent stake in IFBI, and post the aforesaid acquisition, IFBI will become its wholly owned subsidiary, the filing stated. The shares will be acquired from ICICI Bank Limited (1.9 million shares, 18.79 per cent stake) and individual shareholders (50,000 shares, 0.49 per cent stake). The aggregate consideration for the acquisition of shares from ICICI Bank is expected to be between Rs 4.7 crore and Rs 6.5 crore. The acquisition is expected to be completed by September 30, 2025, according to the filing on Saturday. "As a strategic business decision, NIIT Limited has agreed to acquire 1,900,000 equity shares of IFBI from ICICI Bank Limited and 50,000 equity shares of IFBI from Individual shareholders," the filing read. IFBI, incorporated in 2006 an

ICICI Prudential Life: Moderate valuations, health growth prospects

In FY25, embedded value grew 13 per cent with embedded value operating profit (EVOP) growth at 10 per cent Y-o-Y

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

SC says insurers can't deny claim for impossible conditions: What it means

Court rules that insurance firm cannot reject a claim on the grounds of breach of a condition in the contract that was impossible to fulfill

Galaxy Health Insurance targets Rs 200 cr premium this financial year: CEO

Galaxy Health Insurance Company Ltd has targeted Rs 200 crore premium income during the current financial year as it aims to deepen penetration into the domestic market, a top official said. The company which received the IRDAI approval last year has 60 offices in operation in Southern states and 6,000 agents under its fold, company Managing Director and CEO G Srinivasan said. Galaxy Health Insurance is relatively a new entrant in the private sector insurance market backed by renowned industrialist Venu Srinivasan, the Chairman Emeritus of TVS Motor Company and Sundaram-Clayton and V Jagannathan who founded the Star Health and Allied Insurance Company Ltd. In an interaction with PTI, Srinivasan who has been at the helm of various insurance organisations including United India, said his company has drawn up plans to 'penetrate deep into the market' and has targeted to take the overall number of office locations to 100 from the current 60. "Last year the premium was Rs 17 crore. This

100% FDI in insurance a step forward, but safeguards unclear: USTR report

These safeguards include requirements such as a majority of board members being resident Indians and higher solvency requirements for foreign-invested insurers domiciled outside India

82% of PWDs lack insurance, 42% unaware of AB-PMJAY, reveals survey

A nationwide survey by rights groups has revealed that 82 per cent of persons with disabilities lack any form of insurance while 42 per cent are unaware of the government's flagship health scheme, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). The findings were presented at the National Disability Network (NDN) Meeting last week, where civil society groups and disability rights organisations from over 20 states convened to discuss pressing issues faced by the community. The survey, conducted under the 'Ayushman for All' campaign by the National Centre for Promotion of Employment for Disabled People (NCPEDP), gathered responses from more than 5,000 persons with disabilities across 34 states and union territories. Despite the scheme's aim of providing health coverage to vulnerable populations, only 28 per cent of disabled respondents reported having applied for it. "These numbers aren't just statistics; they represent real people left without essential healthcare," said

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 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

81% believe life insurance under 10x their annual income sufficient: Survey

1 in 3 Indians have never reviewed their life insurance coverage, even after major life events like marriage, childbirth, or income growth

PhonePe joins hands with top insurers, launches low-cost motor insurance

PhonePe is offering two-wheeler insurance with an "Own Damage Cover" starting at just Re 1 on its app