Page 9 - Life Insurance Industry

Why insurance firms are poised to march past the banks on the stock market

They make up 43% of the m-cap of banks today and many, including LIC, will soon be listed; by contrast, not a single yet-unlisted bank is so massive as to create ripples when it goes public

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Covid-19 impact: Life insurers lose 4 mn policies, Rs 45,000 cr in premiums

Traditionally, the second fortnight of March is the most productive period for the life insurance business as around 15-18 per cent of the entire business comes during this period

Life insurers find their mojo but experts sound cautionary note

Product launches will be critical for companies to sustain the momentum this financial year, especially in the term-protection segment

LIC expects steady growth in life insurance premiums by December quarter

The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown.

Ensure cashless facility for Covid-19 treatment: Irdai to insurers

It has asked insurers to take appropriate action against hospitals in case they deny cashless facility to policyholders and deviate from the agreed terms of the service level agreements.

Life insurance industry to recover in next quarter, says CARE Ratings

CARE Ratings, in a note, said growth could potentially return in Q2 or Q3 and distribution channels could see significant realignment, with digital sales rising at the cost of individual agents

LIC sees rebound in business after months of slide due to Covid-19 crisis

With the spread of coronavirus and the subsequent lockdown imposed by the government, LIC saw its new business premium (NBP) fall 31 per cent year-on-year (YoY) in March

Irdai allows life insurers to sell short term benefit-based Covid policies

Non-life insurers can sell both, benefit-based and indemnity-based short-term health covers

Life insurance sector to see green shoots in medium to long-term: Edelweiss

With an uncertainty over cash-flows in focus, a goal-based financial planning has become a priority area for many families and insurance as a product category has seen a spurt in demand

SBI to dilute 2.1% stake in SBI Life Insurance via offer for sale

SBI is expected to mop up almost $202 million via the share sale.

Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO

The reason we need standardisation is because it will smoothen the process for customers as there won't be any dispute with hospitals, says Bhargav Dasgupta, ICICI Lombard MD & CEO

Covid-19 crisis: Life insurers look to hedge against policy surrenders

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

Coronavirus claims have not moved up significantly: Bajaj Allianz's CEO

Tapan Singhel, managing director (MD) and chief executive officer (CEO), Bajaj Allianz General Insurance, in an interview with Subrata Panda, speaks about the company's business during the lockdown.

HDFC Life reports 17% decline in pre-tax profit to Rs 284.47 cr in Q4

Net profit also declined 14% on account of loss in investment income and higher provisions.

Covid-19 impact: Life Insurer's new business premium declines 32% in March

For the month of March, the new business premiums of life insurance companies stood at Rs 25,409 crore compared to Rs 37,459 core in March 2019.

Quick approval, grace period: Medical insurance process eased amid Covid-19

Use instalments to increase cover; benefit from quick approvals

Covid-19: Life insurers to bite short-term bullet for future growth

Covid-19 is expected to result in improved awareness and importance about life insurance as a risk cover

Covid-19 to hit life insurers for now, but may boost long term gains

Covid-19 is expected to result in improved awareness and importance of life insurance as a risk cover rather than a mere investment product

Life insurers will not invoke 'force majeure' clause for Covid-19 claims

This step was taken to reassure customers who had reached out to individual life insurance companies seeking clarity on this clause