Page 15 - Insurance
Gross direct premiums underwritten by non-life insurers up 16%
The month-on-month increase for May stood at 16% for entire non-life insurance industry
 "Gross direct premiums underwritten by non-life insurers up 16%")
Irdai red flags HDFC Life, Max Life merger
Firms working on new deal; HDFC Life plans IPO
 "Irdai red flags HDFC Life, Max Life merger")
ICICI Bank, Fairfax to shed stake in ICICI Lombard via IPO
ICICI Bank holds 63.31% stake while Fairfax India Holdings Corporation holds 22.13% approximately
 "ICICI Bank, Fairfax to shed stake in ICICI Lombard via IPO")
State-owned insurers face Irdai's litmus test before IPO
Irdai has barred National Insurance's actuary for 'overstating profits and distorting solvency'
Fairfax to sell more stake in ICICI Lombard
Last Saturday, Fairfax sold 12.18 per cent in ICICI Lombard to private equity firms
 "Fairfax to sell more stake in ICICI Lombard")
General insurance industry's premium grows 16% to Rs 12,206 crore in April
The private sector GI companies have beaten state-owned peers in terms of gross premium in April
 "General insurance industry's premium grows 16% to Rs 12,206 crore in April")
GST to impact pure risk products: Exide Insurance
Exide Insurance expects a growth of 30 per cent in new business premium for this fiscal
LIC books 72% profit at Rs 19,000 cr from equity play in FY17
Sensex rally has helped nation's largest financial investor book 19% more profit in March quarter
 "LIC books 72% profit at Rs 19,000 cr from equity play in FY17")
LIC divides investment portfolio among 3 MDs for more balanced decisions
For past many years, life insurance giant had been functioning with only one or two MDs
 "LIC divides investment portfolio among 3 MDs for more balanced decisions")
Irdai issues new outsourcing guidelines for insurers
Insurers are expected to do all actuarial functions and enterprise-wide risk management in house
 "Irdai issues new outsourcing guidelines for insurers")
New India Assurance FY17 net profit up 22%; targets 17% jump in FY18 biz
Company has suffered an underwriting losses to the tune of Rs 3,500 crore
 "New India Assurance FY17 net profit up 22%; targets 17% jump in FY18 biz")
Life insurance companies see high growth in non-cash premium payment
People in rural areas, small towns are switching to cashless modes of payment, says industry
 "Life insurance companies see high growth in non-cash premium payment")
Wealthy Indians shop for overseas health covers
Two Indian companies offer covers ranging from Rs 15 lakh to Rs 6 crore
 "Wealthy Indians shop for overseas health covers")
ICICI Prudential Life Insurance Q4 net profit rises marginally to Rs 408 cr
The insurer had earned a net profit of Rs 403 cr in same quarter of the previous FY
 "ICICI Prudential Life Insurance Q4 net profit rises marginally to Rs 408 cr")
AIC to appoint consultant to rejig business strategies
AIC wants to reposition itself as crop insurance is turning out to be a market-based product
 "AIC to appoint consultant to rejig business strategies")
ICICI Lombard net grows 38% at Rs 702 crore in 2016-17
The company's net profit in the preceding fiscal 2015-16 stood at Rs 507.5 crore
 "ICICI Lombard net grows 38% at Rs 702 crore in 2016-17")
LIC posts 27% growth in first year premium in FY17
LIC's market share in terms of number of policies stood at 76.09%, up from 74.72% last year
 "LIC posts 27% growth in first year premium in FY17")
General insurers sell ITC stock to hike book value before listing
LIC, however, increases stake in company to 16.29%
 "General insurers sell ITC stock to hike book value before listing")
Daiichi protests Singhs' Religare Health Insurance stake sale in court
Claims they violated order to inform court about transactions of their unencumbered assets
 "Daiichi protests Singhs' Religare Health Insurance stake sale in court")
Your motor insurance set to get cheaper as Irdai reduces third-party rates
Premium rates for the current financial year are higher than those of the previous year
