Page 10 - Life Insurance

HDFC Life Q3 FY24 results: Net profit rises 16.6% to Rs 368 crore

The investment income rose by 130.7 per cent Y-o-Y to Rs 11,372 crore, from Rs 4,929.8 crore a year ago

LIC receives another Income Tax demand notice worth Rs 1,370.60 crore

The state-owned insurer received a demand order worth Rs 1,370.60 crore from the Income Tax authorities in Mumbai

HDFC Life Q3 results: Profit rises 16% on higher investment income

The insurer's profit after tax rose to 365 crore rupees ($44.02 million) for the three months ended Dec. 31 from 315 crore rupees a year earlier

LIC drives new business premium growth in December 2023, shows data

Life insurance sector collects 44% higher premium

Former TCS executive director Phiroz Vandrevala passes away at 70

Vandrevala joined TCS in 1982 and served as a key part of the leadership team over the decades, including serving as Executive Director of the company between 2007-2016

Premiums of non-life insurance companies rise 14.74% YoY in Dec 2023

In terms of the market share, the public-sector general insurers stood at 31.76 per cent of the overall insurance industry in December 2023 as against 33.16 per cent in December 2022

Life insurers' premium income rises nearly 13% to Rs 7.83 trillion in FY23

Premium income of life insurance companies grew 12.98 per cent to Rs 7.83 lakh crore in fiscal 2023 while that of general insurers increased by 16.4 per cent to Rs 2.57 lakh crore, as per the Irdai's annual report released on Wednesday. Private sector life insurers have clocked a growth of 16.34 per cent in premiums, while the public sector life insurer recorded a 10.90 per cent rise in premiums, the Insurance Regulatory and Development Authority of India (Irdai) said in its Annual Report 2022-23. Renewal premium continues to contribute the majority of total premiums underwritten by life insurers at 52.56 per cent in 2022-23. The rest 47.44 per cent is contributed by the new business premium. However, the growth in new business premium was higher at 17.90 per cent compared to renewal business at 8.88 per cent, as per the report. During 2022-23, Irdai said, life insurers issued 284.70 lakh new policies under individual business, out of which public sector insurers issued 204.29 lakh

LIC hits 19-mth high, up 7% on getting 1-time exemption to achieve 25% MPS

Growth ramp up of the country's largest life insurer hinges on improved execution

Irdai's diktat on surrender value weighs on life insurance stocks

According to the H1FY24 earnings, the share of Non-Par in Individual Annualised Premium Equivalent (APE) of LIC stood at 10.76 per cent

Time to review insurance cover; and buy art: Top personal finance stories

Our best stories this week explain how to review a key component of your financial portfolio and how to invest in art

Non-par products haven't really picked up much: Bajaj Allianz Life MD & CEO

Tarun discusses strategies to boost sales in the remaining months of this financial year, with introduction of new products

LIC amends norms for inclusion of shareholders' directors on its board

State-owned insurer LIC on Saturday said it has amended a framework to allow the induction of shareholders' directors on its board. LIC was listed on bourses following the largest initial public offering in the Indian capital market last year. The government raised Rs 20,557 crore by diluting its 3.5 per cent stake in the insurer. Life Insurance Corporation of India (shareholders' director) Regulations, 2023, was notified in the Gazette of India on December 1, 2023, LIC said in a regulatory filing. The corporation would, upon notice of not less than one thousand shareholders or one-tenth of the total number of shareholders, whichever is lower, elect a shareholders' director through a general meeting of such shareholders, the regulation said. The person elected as a shareholders' director would be appointed by the board for a term of 4 years and eligible for re-election and re-appointment for another term of 4 years, it added. At present, LIC has five executive directors, including

We will grow above 28% this fiscal: Shriram Life MD Casparus J H Kromhout

The rural population in India is around 65-70 percent. It is much more difficult to reach rural customers, said Kromhout

Irdai issues exposure draft on EoM for insurers based on RRC suggestions

The exposure draft has upheld and continues to propose a 30 per cent and 35 per cent limit on EoM for general insurers and standalone health insurers, respectively

Life Insurance companies reports 7.64% YoY rise in new business premiums

ICICI Prudential Life Insurance inched up by 2.00 per cent YoY to Rs 8739.05 crore while Max Life Insurance recorded 27.87 per cent growth to Rs 5004.1 crore

Life insurance a sunrise sector poised for lift-off: CEOs at BS BFSI Summit

This capital gap alone shows the growth opportunity available in the life insurance industry over the next 10 to 15 years according to Naveen

Technology can help reach more customers in life insurance sector: LIC MD

Companies are focusing on digital boarding which can help focus on improving persistence in this sector, says R Doraiswamy

BS BFSI Summit: From Doraiswamy to Tahilyani, meet life insurance experts

Life Insurance CEOs Panel's theme on October 31: Is life insurance the new sunrise sector?

HDFC Life Insurance Q2 profit rises 15.5% on strong premium growth

The Mumbai-based insurer's profit after tax rose to 3.77 billion rupees ($45.30 million) for the quarter ended Sept. 30, from 3.26 billion rupees a year ago, it said in an exchange filing

Premiums of non-life insurance companies rise by 14.86% in H1FY24

Public sector general insurers reported a 30.64 per cent surge in premium, while private insurers recorded a 21.49 per cent increase during this time