Page 27 - Insurance
Irdai issues new insurer solvency margin rules
For segments like health, motor and liability, insurer would be required to maintain a higher solvency ratio
 "Irdai issues new insurer solvency margin rules")
Management expense caps announced for general insurers
Motor, health allowed higher expenses than other categories; heavy penalties if limits are exceeded
 "Management expense caps announced for general insurers")
Redesigned IPO norms for insurance companies soon
According to reports, HDFC Standard Life and ICICI Prudential Life Insurance companies have approached the insurance regulator for approval to divest equity through IPO route
 "Redesigned IPO norms for insurance companies soon")
Revised IPO guidelines soon for insurance firms: IRDAI
Irdai puts total foreign investment in insurance sector at Rs 15,000 cr in past one year due to hike in FDI limit
 "Revised IPO guidelines soon for insurance firms: IRDAI")
Coverfox.com launches doorstep claims assistance program in Mumbai
Launches Express Claims Service as it looks to ensure timely & professional claims support
 "Coverfox.com launches doorstep claims assistance program in Mumbai")
Insurers now offer value-added services, assistance
Reliance General Insurance is now offering specialised services to the home insurance customers
 "Insurers now offer value-added services, assistance")
Motor insurance combined ratios might rise in FY17
In FY17, MTP premiums went up by increase of 10-40% from April 1 in private cars and two-wheeler segment
 "Motor insurance combined ratios might rise in FY17")
Six insurers get FIPB nod for Rs 2,566-cr FDI till Feb 2016
Approvals come after after the government increased the FDI cap in the sector to 49% from 26%
 "Six insurers get FIPB nod for Rs 2,566-cr FDI till Feb 2016")
Over-the-counter product norms for insurance soon
Once the norms are approved, insurance companies will be able to sell simple products without lengthy forms or documentation
 "Over-the-counter product norms for insurance soon")
SBI Life ends FY16 with highest market share gains
LIC reported positive growth in APE for the first time in the past six years
BoB, Max Bupa go for bancassurance tie-up
Max Bupa to offer its comprehensive health insurance to Bank of Baroda's customers across the country
 "BoB, Max Bupa go for bancassurance tie-up")
ICICI Pru, HDFC Standard plan to raise $1 bn in IPOs
As insurance companies rush to take advantage of a change in ownership rules
 "ICICI Pru, HDFC Standard plan to raise $1 bn in IPOs")
SBI Life Insurance IPO only after 2016-17
The valuation would be based on the performance in 2015-16
 "SBI Life Insurance IPO only after 2016-17")
Aviva Plc raises stake to 49% in Indian venture
Aviva bought additional 23% stake for Rs 940 cr
 "Aviva Plc raises stake to 49% in Indian venture")
Aviva takes an extra 23% stake in India JV partner Dabur Invest
Insurer Aviva has taken an additional 23% share in Aviva Life Insurance Company India from joint venture partner Dabur Invest Corp
 "Aviva takes an extra 23% stake in India JV partner Dabur Invest")
 "ICICI Bank approves IPO for life insurance unit")
Insurers partner small banks to widen reach
They are tying up with co-op banks, MFIs and small finance banks in order to sell their products through touch points of these institutions
 "Insurers partner small banks to widen reach")
AIA hikes stake in Tata AIA Life to 49%
The value of the transaction is Rs 2,055 crore for the additional 23% stake
 "AIA hikes stake in Tata AIA Life to 49%")
CignaTTK to woo'healthy' customers
The insurer has launched a personal health wallet with an aim to motivate people to not only buy health insurance but also stay fit
 "CignaTTK to woo'healthy' customers")
Few overdrafts, fewer insurance claims
Of the 215 million new accounts opened, only 1.8 million have availed of overdraft facilities
 "Few overdrafts, fewer insurance claims")
