Page 3 - Life Insurance

Max Financial Services stock jumps 4%, hits 52-week high post Q4 results

Max Financial Services stock jumped over 4 per cent to hit a 52-week high of ₹1,351 on Wednesday

LIC push lifts life insurers' new business premiums in April, shows data

India's life insurance industry saw an 8.43 per cent rise in new business premium in April, led by LIC's group premium growth, though policy issuances fell over 13 per cent

In nominee vs legal heir who gets the precedence? Court says inheritance

The Allahabad HC has clarified that a nominee on a life insurance policy is not the rightful owner of the payout but a trustee for the legal heirs, challenging common assumptions about insurance claim

Growth in number of life insurance policies sold falls steeply in FY25

The significant decline in the number of policies sold can be attributed to the implementation of new surrender value norms

Pahalgam terror attack: LIC to speed up death claim settlement process

All efforts will be taken to ensure that the claimants are reached out to and claims are settled expeditiously for the affected families

Life insurers' NBP grows 5% in FY25; premium collected shy of Rs 4 trn mark

The premiums of the largest private life insurer - SBI Life Insurance - slipped by 7 per cent Y-o-Y to Rs 35,576.67 crore

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

Honest, full disclosures key to hassle-free health insurance claims

Customers must disclose habits like smoking and alcohol consumption honestly, regardless of frequency

Federal Bank to buy additional 4% stake in Ageas Federal Life Insurance

Federal Bank on Friday said it has signed an agreement to acquire an additional 4 per cent stake in Ageas Federal Life Insurance Co Ltd (AFLIC) from Ageas Insurance International. In a BSE filing, Federal Bank said it has executed a "binding Memorandum of Understanding" today with Ageas Insurance International NV (Ageas) and Ageas Federal Life Insurance Co Ltd (AFLIC) for the acquisition. The acquisition is contingent upon execution of Share Purchase Agreement (SPA) between the parties, satisfaction of customary conditions precedent to be set forth in the SPA, and regulatory approvals, it added. With this, the stake of Federal Bank in Ageas Federal will rise to 30 per cent, from 26 per cent. The board of Federal Bank had on March 25 approved signing of the MoU with Ageas. It further said Reserve Bank has accorded its approval to Federal Bank for acquisition of additional 4 per cent stake in AFLIC for up to Rs 105 crore. Ageas Federal Life Insurance is a joint-venture between Agea

Edelweiss Life Insurance likely to break even by FY27: MD & CEO Sumit Rai

The private sector insurer has been incurring losses and remains reliant on capital infusion from its Indian parent, which in FY25 infused Rs 200 crore into the company

Former SBI & LIC chiefs among new members of Irdai's advisory panel

The regulator proposed that the IAC should allow the circulation of meeting notices and agendas to its members in less than seven days, subject to chairperson approval

Tata AIA launches Shubh Flexi Income Plan for smart savings and life cover

The plan caters to a wide range of financial objectives with its three tailored options

Slowdown in health and motor segment drag non-life premiums in Feb

According to General Insurance Council data, general insurers, who operate in multiple business lines, witnessed about 5 per cent YoY drop in premiums to Rs 17,399.3 crore in February

Life insurers' new business premium growth drops 11.6% in February

LIC's weak performance drags overall premium growth of the segment

Insurance cos knock on Irdai door seeking more time to implement Bima-ASBA

The insurance regulator had in mid-February set the March 1 deadline for rollout of the feature, which allows insurers to take a customer's consent and block the premium amount for a period of 14 days

LIC gets GST demand notice of Rs 57.2 crore for excess ITC availed

Life Insurance Corporation of India (LIC) on Monday said tax authorities have slapped a demand notice of about Rs 57.2 crore on it for excess Input Tax Credit (ITC) availed for the financial year 2020-21. The company has received a communication/demand order on Monday from Assistant Commissioner, Delhi regarding excess ITC availed, LIC said in a regulatory filing. The financial impact of the demand is to the extent of the GST (Rs 31,04,35,201), Interest (Rs 23,13,21,002) and Penalty (Rs 3,10,43,519), it said. There is no material impact on financials, operations or other activities of the corporation, it added.

360 ONE Asset to acquire 15% stake in Bharti AXA, help in mkt expansion

The transaction is subject to regulatory approvals

Purchasing term insurance: Choose a policy that balances coverage and price

CSR represents the percentage of claims settled by an insurer within a financial year

Bid to mitigate margin impact: Life insurers rejig agent fee structures

The companies had to launch all their products as per the new norms by December 31, 2024

Life insurance new business premiums fall 8.15% to Rs 30,825 cr in Jan

According to data published by the Life Insurance Council, LIC's premium dropped 13.89 per cent Y-o-Y to Rs 16,292.67 crore