Page 10 - Insurance

Irdai asks insurers to facilitate Covid vaccination of policyholders

The regulator said insurers may create awareness among policyholders about vaccination through effective communication via SMS or email

Rajya Sabha passes bill to raise FDI limit in insurance sector to 74%

Majority of directors, key personnel will be resident Indians; percentage of profits to be retained in India, says FM Sitharaman on FDI safeguards

'Policies to cover hospitalisation cost due to adverse effects of vaccine'

Hospitalisation is covered under the health insurance policies subject to the specific terms and conditions of the policy, says Irdai

BS Insurance Round Table 2020: Predatory pricing slammed, sandbox lauded

Fighting for market share via outpricing is lazy; industry should revisit the way it looks at the customer, offer better claim experience and products, improve distribution, say participants

Insurers want IT system for Ayushman Bharat scheme to check quality, fraud

Aadhaar cards will become insurance cards so that insurers and other participants can verify beneficiaries

PSU general insurance companies seek capital infusion ahead of merger

The three firms need immediate recapitalisation of at least Rs 2,000-3,000 crore each in order to maintain solvency ratios and wipe out losses

RBI report on demonetisation: Financial savings in insurance, shares rise

Demonetisation reduced the currency in circulation by 2.1%, but deposits rose from 4.8% to 7.3%

ICICI Prudential to be listed this fiscal: Kochhar

It will be the first IPO from a life insurance company in the country

Online insurance space to hit Rs 600 bn premium revenues in 5 years

Launched in 2015, RenewBuy ranks among the top two online insurance aggregators

Insurers have Rs 152-bn policyholders' unclaimed money, LIC's pile largest

Irdai has already asked insurers to take steps to identify the policyholders or beneficiaries and disburse the claims

Reliance Nippon Life Insurance's June quarter premium up 8% to Rs 7.5 bn

Reliance Nippon Life Insurance Company, a private sector life insurance company promoted by Anil Ambani Group-led Reliance Capital, had assets under management of Rs 193.35 bn as on June 30 this year

LIC board gives nod to acquisition of up to 51% stake in IDBI Bank: Garg

LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet

Future Generali India Insurance starts delivering policies via WhatsApp

In its digital transformation initiatives, FGII launched in-house motor claim settlement platform i-Moss in 2016 that ensures on-the-spot settlement of most motor insurance claims filed with it

LIC lost money in 18 out of 21 public sector bank shares in last 2.5 years

Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans

Irdai board meet on Friday, may ease 15% rule to allow LIC-IDBI deal

According to the present regulation, an insurance company cannot own more than 15% in any listed financial firms

Bank NPA ratio to hit 12%, may reach highest level since 2000: RBI report

Under the current macroeconomic environment, GNPA ratio of scheduled commercial banks may rise to 12.2 per cent of the advances by March 2019

Max Life to ICICI Pru Life, private insurance firms climb the loyalty curve

LIC, the survey finds, is losing out to private players because of the level and quality of innovation in products, customer service and technology

ICICI Prudential Life's board appoints NS Kannan as MD and CEO

Prior to being CFO of ICICI Bank, he served as ED of the life insurer

Banks jolted by record fraud to boost insurance sales

Experts say the recent frauds mean that more insurance cover for banks will come with higher costs

Shubash Khuntia appointed as Irdai chairman, succeeds TS Vijayan

Khuntia hails from Jagatshingpur in Odisha and is a graduate of the 1981 batch of the Indian Administrative Service