Page 18 - Insurance
LIC hikes gratuity to Rs 3 lakh to retain fleeing agents
So far, the corporation has added 45,000 agents on a net basis this year
 "LIC hikes gratuity to Rs 3 lakh to retain fleeing agents")
ICICI Prudential Life Q3 net up 3.3% at Rs 450 cr
Net premium income of company rose 28.9% to Rs 5,698 crore during third quarter of 2016-17
 "ICICI Prudential Life Q3 net up 3.3% at Rs 450 cr")
Fairfax may sell 25% of ICICI Lombard
ICICI Lombard is a JV formed in 2001 between ICICI Bank, India's second-largest bank, and Fairfax
 "Fairfax may sell 25% of ICICI Lombard")
HDFC Life's profit up by 10% in April-December period
Net profit stood at Rs 645 cr
GIC Re, 4 other insurers to be listed soon on bourses
Jaitley-Gadkari panel delegated authority to clear further details
 "GIC Re, 4 other insurers to be listed soon on bourses")
Cabinet clears proposal for listing 5 public sector general insurers
The government's holdings in these companies will be brought down to 75% from 100%, Jaitley said
 "Cabinet clears proposal for listing 5 public sector general insurers")
Irdai's protection to a few reinsurers riles industry
Implements the controversial guideline allowing first right of refusal to select players
 "Irdai's protection to a few reinsurers riles industry")
Bajaj Allianz General launches mobile-based settlement system
Customers can instantaneously submit digital documents through company's self-service mobile app
 "Bajaj Allianz General launches mobile-based settlement system")
Royal Sundaram General eyes 25% biz from accident,health cover
As of March 2016, its total premium stood at Rs 1,700 crore which may touch Rs 2,100 crore
 "Royal Sundaram General eyes 25% biz from accident,health cover")
Indian insurance sector to grow significantly in coming yrs: Report
UK-based reinsurance company Lloyd is expected to set up its branch in Mumbai in 2017
 "Indian insurance sector to grow significantly in coming yrs: Report")
SIDBI ties up with LIC for capital support to enterprises
SIDBI and LIC had signed a MoU to supplement funds under India Aspiration Fund
 "SIDBI ties up with LIC for capital support to enterprises")
Insurance firms, banks rush to invest in small finance banks
At Ujjivan, insurance companies hold 9.75% stake as on September 30, 201
American reinsurer RGA gets final nod from IRDAI to open branch in India
The group, which has been in India for the past 15 years, plans to open a branch in Mumbai
 "American reinsurer RGA gets final nod from IRDAI to open branch in India")
Recurring natural calamities to escalate insurance premium
Chennai, Vizag among vulnerable cities on east coast
Demonetisation will help us as savings will increase: Trevor Bull
We plan to grow digitally, which means we will not require salesmen
 "Demonetisation will help us as savings will increase: Trevor Bull")
Proceeds from policy bought abroad are not taxable
While the Income Tax Act defines 'insurer' as an Indian insurance company, the section dealing with the exemption of maturity proceeds, does not specify any such condition
 "Proceeds from policy bought abroad are not taxable")
With government support, insurance sector makes a good show in 2016
The non-life sector is expected to reap a bumper premium harvest of around Rs 18,000 crore from the PMFBY
Vijay Sharma formally assumes office as LIC Chairman
As executive director of LIC's pension & group schemes, Sharma pioneered the launch of various prestigious plans
 "Vijay Sharma formally assumes office as LIC Chairman")
SBI to revalue SBI Life for later stake sale to JV partner
After agreeing to a deal to sell 3.9% stake in SBI Life Insurance, its JV with BNP Cardiff
 "SBI to revalue SBI Life for later stake sale to JV partner")
SBI sells 3.9% stake in life insurance arm for Rs 1,794 cr
SBI Life becomes the most valued private life insurer; deal to also boost bank stock
 "SBI sells 3.9% stake in life insurance arm for Rs 1,794 cr")
