Page 4 - Life Insurers

Life insurers are at the cross-roads

As government pension and retirement schemes become less sustainable, ensuring financial security for the older population will become the central focus for life insurers in India

Insurers likely to further tighten underwriting norms for term plans

The source also added that retail term plan prices may go up further, even though the reinsurer has not specified it at this point in time

Life insurers report 3% YoY growth in new business premiums in August

In July, life insurers reported an 11 per cent YoY drop in NBP while in June they managed to report a 7.53 per cent increase in NBP, following a dip in May due to the second wave of the pandemic.

Life insurers report 11% YoY decline in new business premiums in July

When compared to the pre-pandemic period (July 2019), NBP of the life insurance industry witnessed a drop of 5 per cent

ICICI Pru Life slips into red, logs Rs 186-crore loss in April-June quarter

Assets under management increased by 31.3 per cent to Rs 2.23 trillion at the end of the April-June quarter.

Coming soon: LIC kicks off work on IPO allotment to policyholders

The government is moving fast with the IPO, which is said to be India's largest.

Bharti AXA Life premium income rises 4.3% to Rs 2,281 crore in FY21

Renewal premium grew by a healthy 10 per cent in 2020-21

HDFC Life chief seeks a bigger role for life insurers in healthcare

Life insurers in India should be allowed to play a bigger role in healthcare sector so that they can be the "disruptor" rather than the "disrupted", HDFC Life Chairman Deepak S Parekh said.

Life insurers get tough on risk assessment as second Covid-19 wave bites

Impose 'postponement period' for recovered Covid patients, tighten underwriting standards

Life insurers see over 70% year-on-year growth in NBS in March

In FY21, life insurance companies saw a 7.5% increase in NBP over FY20

Life insurers shell out Rs 2,000 crore as Covid-19 death claims, shows data

The amount paid as claims towards deaths caused by Covid is not yet alarming to the extent that it will impact the balance sheet or solvency ratios of companies

Life insurers' new business premium up 21% in February at Rs 22,425 crore

Private insurers saw their NBP grow by 16% during the month to Rs 9,504.64 crore, compared with Rs 8,128.51 crore in February 2020

Private health insurers offering 80-100% discounts on renewal premia

Most health insurance provides no-claim bonus for claim-free years but that usually ranges from 25 per cent to 50 per cent

Pure-play protection plans second fiddle to savings plan for life insurers

Growth in recent times is led by savings products, poised to give better returns that bank FDs

General insurers' underwriting losses up 6.3% in FY20: Irdai Annual Report

While state-owned insurers' losses rose 1.12% to Rs 18,741 cr, those of private insurers were up over 26% to Rs 3,647 cr

Life insurers' new business premiums up 3.7% in Jan after two slump months

This is despite state-owned insurance behemoth LIC reporting a 2% decline in NBP in the same period to Rs 13,143.64 crore

Irdai introduces 'Saral Pension', a standard individual annuity product

It is an immediate-anuuity product comes that all life insurers must start offering by April 1

Life insurers see 2.7% contraction in December premium collection

Top private insurers such as HDFC Life, ICICI Life, and Max Life Insurance registered double-digit growth in December

Life insurers play tax-free interest arbitrage game to rev up business

While most insurance schemes aren't tax-free anymore, assured return products are among the few exceptions

Life Insurers witness 32% growth in new business premiums in October

The numbers are in sharp contrast to the decline in business seen by insurers in the initial days of the Covid-19 pandemic