Page 20 - Insurance

Agent numbers see rise in life insurance industry

Life insurance industry has added 24,183 agents in the period between April 1-September 30 during this financial year

Lloyd's to push for level playing field

Gets R1 licence for onshore reinsurance branch

Insurance may fall under 12% tax slab in new tax regime

At present, apart from the 14% service tax, Krishi Kalyan cess & Swachh Bharat cess are also applicable, taking the total service tax applicable on insurance products to 15%

Insurance may fall under 12% tax slab in GST, from 14% service tax currently

While industry demand of 5% slab may be denied, unlikely govt will impose 18% as insurance is a protection/savings product

LIC buys over 50% of NBCC shares, invests Rs 1,200 cr

LIC's stake in the state-run construction firm has gone up to 8.11% following its participation in NBCC

PFI ups stake in DHFL Pramerica insurance to 49%

Stake has been increased to the maximum limit allowed under FDI regulations

Bring Pensions under one authority to boost coverage: Regulator

FRDA Chairman reiterated that bringing about tax parity between the NPS and the EPF scheme would provide a boost to the subscriber base.

Life insurers tighten e-policy underwriting

Insurers to carry out elaborate checks to eliminate potentially fraudulent persons at the entry level itself

Nectar Life Sciences' claim not valid: Irdai

The surveyor attributed the reason for loss to vagaries of weather and not to fire in the vessel

Dai-ichi Life Insurance eyes stake in Union KBC AMC

Union Bank already has a life insurance joint venture with Dai-ichi Life and Bank of India

Foreign reinsurers R2 branch license approval likely in IRDAI October board meet

Meeting scheduled for Oct 24

Insurers fret over group health discounts

Incentives have continued despite IRDAI issuing norms that solvency levels for segments like health be high

Mandatory listing of insurance firms on hold

In August, Irdai surprised the 55 life and non-life insurance companies in India, when it issued a discussion paper on the need for them to get listed

Andhra floods: Insurers brace for Rs 300-cr claim settlement

The largest state-owned non-life insurer New India Assurance alone is looking at a figure of Rs 15 crore

Insurance marketing firms yet to widen services

IMF is an entity registered by the IRDAI to solicit or procure insurance products

Insurers offer need-based policy

Insurers using data analytics to identify client profiles and behaviours, to cross sell and identify more products

Insurers' new customer watch tool

They are increasingly usingg data analytics to identify client profiles & behavious, to cross-sell and identify more products to offer

Bitter-sweet story for general insurers

LIC turns white knight for PSB capital infusion

UCO Bank said that it would sell 71.7 million shares to LIC on a preferential basis, which could fetch about Rs 270 crore to the bank

Ensure safety of policies with e-account

While your insurer will help you open an e-insurance account at the time of buying a policy, existing policyholders must do so themselves