The Pension Fund and Regulatory Development Authority (PFRDA) today unveiled a savings account scheme under the New Pension Scheme (NPS) which would allow investors to enter and exit at will.

Now, savings account available with NPS

Business Standard

The expert committee examining the way financial products are sold, which is chaired by Pension Fund Regulatory and Development Authority Chairman D Swarup, will stick to its earlier proposal of banning payment of upfront commission by insurance policyholders.

Panel for doing away with insurance commission

American International Group Inc lowered its debt by $25 billion as the company transferred two overseas life insurance units destined for sale to Federal Reserve vehicles.

AIG lowers Fed debt, transfers non-US life insurers

Bharti Axa General Insurance Company Ltd, a 74:26 per cent joint venture between Bharti Enterprises and Axa Group, has signed a Bancassurance tie-up with Nashik-based Nashik District Central Co-operative (NDCC) Bank.

Bharti Axa inks Bancassurance tie-up

There is finally some good news for health insurance buyers. Insurers are now beginning to cover outpatient department (OPD) expenses.

Now, health insurance to cover OPD charges

Bharti AXA General Insurance has introduced four new add-on covers under its motor insurance portfolio, which will be available with the company's existing product &mdash;SmartDrive Private Car Policy.

Bharti AXA launches add on covers for motor insurance

Most private players see a decline in premium income.

Life insurers go slow on expansion to check costs

Oriental Insurance Company Limited, the market leader in the non-life insurance segment in Orissa, has targeted a premium collection of Rs 100 crore from the state in the current fiscal.

Oriental Insurance targets Rs 100 cr premium collection

Schools and colleges have become the new hunting ground for non-life insurers, eager to push personal accident (PA) policies, a segment which has traditionally seen low claims.

Insurers push accident cover sale to schools

Bajaj Allianz Life Insurance, one of the leading private life insurance companies, expects to collect Rs 10-12 crore premium in its Berhampur division from its new Unit-Linked Insurance Policy named Max Gain.

Bajaj Allianz eyes Rs 12cr premium from Max Gain

Aviva Life Insurance Company Limited, one of India's leading life insurance companies, plans to come out with 3-4 new insurance products including a new Children's insurance plan before the end of the current financial year.

Aviva to roll out four insurance plans by '09-10

The life insurance industry logged a 21 per cent increase in premium collections during the first seven months of the current financial year compared to the same period last year, indicating recovery in the sector.

Life insurers' premium collection rises 21% in first seven months

Press Trust of India

The minimum ticket size and the tenure for unit-linked insurance plans (Ulips) are set to be higher from the New Year.

Come New Year, minimum investment, tenure for Ulips to rise

Ten years ago, a survey had projected that the life insurance industry would see its premium income grow at a compounded annual growth rate (CAGR) of 18.9 per cent.

Insurers look for profits, investors for higher foreign stake

Bajaj Allianz Life Insurance, one of the leading private life insurance companies, plans to recruit about 5000 more agents in Orissa over next 15 months.

Bajaj Allianz to recruit 5000 agents in state

Saturation in other businesses triggers the move.

Big shift among non-life insurers to cover SMEs

The Delhi &amp; District Cricket Association (DDCA) and the Board of Control for Cricket in India (BCCI), organisers of Sunday&rsquo;s India-Sri Lanka cricket match, will have to foot the bill for the abandoned tie as insurance companies are unlikely to pay any claim.

No insurance payment for abandoned Kotla match

The insurance sector is making a strong comeback. Buoyed by a steep rise in sale of single premium policies, the industry clocked a 53.25 per cent rise in November.

Life insurers log 53% rise in first premium income

Insurers are likely to take a hit of up to Rs 140 crore from the recent fire accident at the IOC marketing plant near Jaipur. The plant was insured for Rs 238 crore by ICICI Lombard as the lead insurer, while Oriental Insurance had the second-largest share, followed by Iffco Tokio and National Insurance with 10-15 per cent stake each.

Insurers to take Rs 140-cr hit for IOC fire

The aim is to lower losses from risks underwritten by them.

Govt insurers look to revamp operations

Life insurance companies have managed to pare their losses during the first half of the current financial year, partly due to a decline in the sale of new policies.

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