Page 2 - Insurance

Borzo, Symbo tie up to provide insurance to over 50,000 delivery partners

The firms are also exploring in-app integration of insurance services for faster, seamless and paper-less processes

Case for having insurers cater to niche sectors: Irdai's Rakesh Joshi

In order to enhance the insurance force, the regulator is contemplating the concept of Bima Vahak

The life insurance sector's trouble with taxation on high-value policies

The imposition of a tax on high-value policies could hurt the growth rates of life insurers in the next fiscal year

A new dawn for insurance industry: Irdai looks to make sector attractive

Irdai is charting out a long-term road map to markedly increase India's insurance penetration through a supportive regulatory architecture

LIC Housing Finance December quarter profit declines 37% as costs weigh

India's LIC Housing Finance Ltd reported a 37% decline in third-quarter profit on Monday, hit by higher financing costs and as impairment charges more than doubled

IRDAI should set up a committee to review its regulations: Experts

In line with Nirmala Sitharaman's budget announcement, the Insurance Regulatory and Development Authority of India (IRDAI) should set a committee of its own to review its various regulations

Budget effect: About 15% premium impact on some private life insurers

On net, about 15 per cent of overall premium for these players could be under severe growth risk, leading to about 3-4 per cent hit to growth expectations

Insurance policies where premium is above Rs 5 lakh no more tax exempt

'A concern is that it should not result in a significant shift towards purely investment oriented unit link insurances'

Eco Survey: FDI, IPOs, simplified rules may accelerate M&As in insurance

The Survey points out that the highly competitive sector is already witnessing M&As as insurers have huge opportunities and volume to co-exist in the space

Insurance body GIC opposes govt nominee in life and non-life councils

Says both umbrella bodies are self-regulated and don't depend on funds from finance ministry; govt nominees may hamper their autonomy

India's retail health insurance could be a $25 bn market in 5 yrs: Report

Avendus Capital study says low penetration coupled with rising disposable incomes, and product innovation by insurers could act as catalysts for the segment

Private sector insurer HDFC Life expects margins to improve in Mar quarter

The company closed the December quarter with a new business premium margin of 26.8 per cent

Joshimath subsidence: Irdai asks insurers to expeditiously settle claims

Insurers have also been asked to engage adequate number of surveyors immediately as required and, if need be, consider engaging surveyors from neighboring areas as well

Taxmen probe rich Indians for having foreign policies without approval

Foreign Exchange Management Act (Fema) is triggered when life insurance is bought from a foreign company without RBI approval

ICICI Prudential Life Insurance confident to cross FY23 VNB target by March

It is the second-largest private player in terms of VNB

ICICI Lombard's net profit rises 11% in Q3 on strong premium income

Gross premiums earned by the insurer was up 17 per cent YoY to Rs 5,600 crore in Q3FY23

Insurers can classify green bond purchases as infra investments: Irdai

The investments in green bonds can qualify towards statutory liquidity ratio (SLR) - the minimum percentage of deposits commercial banks are required to invest in liquid assets, such as government bon

Reasonable growth, attractive valuations for life insurers' stocks

Analysts positive on most of the stocks, especially SBI Life, HDFC Life and LIC

Irdai to allow insurers to auto renew FRN of cross border reinsurers

Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards

Indian govt portal upgrade may halt new debt issues, says merchant bankers

According to a notification from the Ministry of Corporate Affairs, the website companies use for electronic filings will not be available from January 7 to January 22