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.

Life insurers reduce losses in first half

Business Standard

In an attempt to increase the flexibility and transparency of annuity products, the Insurance Regulatory and Development Authority, or Irda, is likely to allow variable annuity products, with exposure to equity.

Irda to allow variable annuity items

Inter-regulatory committee set up to fix norms.

Irda, Sebi start work on insurance firms' IPOs

In a bid to avoid unpleasant surprises, private equity players and companies are demanding covers against changing tax rules. This has forced insurers in India to file for products like a tax liability cover, along with warranty and indemnity covers.

Coming ahead, insurance against tax liability

The Centre is working out modalities with insurance companies to introduce an insurance cover for fish and shrimp stocks at a lower premium on the lines of agriculture and livestock insurance.

Low premium insurance for aquaculture on cards

Non-life insurers earlier offered discounts as high as 97 per cent in some cases.

Fire & engg policies dearer by 25%

Insurance companies have sought changes in the draft exposure guidelines and have asked the regulator to defer their implementation by three months. In addition, the set of public disclosures for the insurance companies going public and those not approaching the market to raise capital are likely to be different.

Insurers seek changes in disclosure norms

Life premium income jumps 16.6% in H1

General Insurance Corporation (GIC), India&rsquo;s national re-insurer, is expected to take a Rs 100-crore hit in claims for the fire that broke out at the Indian Oil Corporation (IOC) complex near Jaipur last month.

IOC fire burns Rs 100-cr hole in GIC's pocket

Following the Insurance Regulatory Development Authority&rsquo;s (Irda&rsquo;s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).

LIC to rejig Ulips after Irda norms

Birla Sun Life Insurance, which belongs to the Aditya Birla Group, has roped in four cricketers &mdash; Yuvraj Singh, Virender Sehwag, Suresh Raina and Rohit Sharma &mdash; to endorse its wealth and protection solution plans.

Birla Sun Life Insurance: Batting for insurance

Apollo DKV Health Insurance is planning to increase its capital base to Rs 400-500 crore by 2012-13, from the current Rs 220 crore.

Apollo DKV Health may raise capital base to Rs 500 cr

The Life Insurance Council has opposed a proposal in the Draft Direct Taxes Code which says policy holders be taxed at the time of withdrawal of insurance fund. SB Mathur, Secretary General of the Life Insurance Council, said either the proposal be changed to retain the present system of exempting a life insurance holder from tax at the time of withdrawal, or tax should be levied only on the real value of the withdrawn sum.

Insurance council opposes tax on withdrawals

Press Trust of India

Indian general insurance companies, which have been posting underwriting losses for the past several years, want the industry regulator to give them a better room to grow.

General insurers bogged by underwriting losses

The implementation of the Rashtriya Swasthya Vima Yojana (RSVY) meant for the families living below the poverty line (BPL) in 12 districts of Orissa is now under a cloud due to the lack of initiative from the district collectors in issuing smart cards for the scheme.

Health insurance scheme for BPL families under cloud

India&rsquo;s life insurance sector is expected to grow by almost 15 per cent in the current financial year and touch a total premium income of Rs 2,55,000 crore (about $ 50 billion).

Life insurance sector to grow by 15%

The draft code, circulated for public comments, had suggested that life insurance policies should be taxed at the time of maturity. So, the contribution and accumulation would be exempt from tax payments, but the government would levy tax on the withdrawal amount.

Insurers against new tax regime for policies sold before April 2011

Bharti Axa General Insurance Company is planning to infuse Rs 645 crore of capital in the next five years. It is also looking at expanding its network and planning to add 500 agents during the current year.

Bharti Axa to get Rs 645 crore capital infusion

The Insurance Regulatory and Development Authority (Irda) has decided to make available samples of transaction level data on motor and health insurance on its website to facilitate research on non-life insurance.

Irda to put insurance data on website

The model of universal life policy (ULP), which is ideally targeted towards the poor (micro-finance), is being replicated by some insurance companies for the urban middle class.

ULP: A savings policy with risk advantage

I have lost my life insurance policy document. How can I get a duplicate one? I don&rsquo;t have any receipt for the payment made.

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