Life Insurance Industry

Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products

IFFCO-Tokio General Insurance on Friday said it has achieved a milestone of generating Rs 10,000 crore of gross written premium for the current fiscal. IFFCO-Tokio General Insurance Company Limited is a 51:49 joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) -- one of the world's biggest cooperative societies -- and Tokio Marine Group, the largest listed insurance group in Japan. HO Suri, Managing Director and CEO of IFFCO Tokio, said there are many segments of the business, which represents growth. However, Health Insurance and Crop Insurance verticals are the top most segments, witnessing a growth of 28 per cent and 47 per cent, respectively, he said. In terms of geographical growth, Suri said Assam, Maharashtra, Madhya Pradesh and Chhattisgarh and West Bengal have shown remarkable growth. "Besides, our active policyholders figure has also been improved significantly. Overall, the gross premium witnessed a growth of 16 per cent compared to the last financial .

Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products

Anup Bagchi had joined the ICICI Group in 1992 and had worked in the areas of retail banking, corporate banking and treasury.

Till Feb, sector sees premiums going up by 17% to Rs 2.32 trn

LIC AAO Mains 2023 Phase II (main examination) is to be held on March 18, 2023. A sum of 7754 candidates have been shortlisted to give the exam

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The government has lifted tax exemption on life insurance policies issued with aggregate premium of over Rs 5 lakh in a year (other than Ulips) with effect from April 1, 2023

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The corporation has launched only non-par products this year, which cater to specific segments in its drive to increase the non-par business