Page 3 - Insurance

LIC may look at entering health, non-life insurance businesses: Source

Says insurance giant is well-placed to make most of a composite license; in fact it was a composite insurer till early 1970s, when Oriental Insurance was carved out

Composite insurance licence regime may trigger M&A activity: HDFC Life CFO

Centre's decision to issue composite insurance licences (insurers who can sell both life and general insurance policies) may increase a potential for merger and acquisition activity in the sector

LIC may look at composite licence post amendment in Insurance Laws

The country's largest insurer LIC may take a call on composite licence clause after the passage of Insurance Laws (Amendment) Bill in Parliament, sources said.

Higher claims pushed up non-life insurers' underwriting losses: Report

Life insurers paid benefits to the tune of Rs 5.02 trillion in FY22, says regulator's annual report

Several insurance companies exceed limit on expenses in FY22: Irdai report

The expense of management of regulations (2016) for life insurers prescribes the allowable limits of expenses of management taking into account the type and nature of product,

FinMin asks banks not to use unethical practices to sell insurance policies

Concerned over rising incidence of mis-selling, the finance ministry has directed heads of public sector banks to put in place strong mechanisms to avoid unethical practices for selling insurance

Need insurers catering to niche sectors like NBFCs, MFIs: Rakesh Joshi

India has a huge protection gap of 83 per cent. Further, almost 50 per cent of the vehicles running on the road are uninsured

Regulatory changes may bring new dawn for insurers: BFSI Summit panelists

Globally, insurance is moving to a risk management and a risk service business. India also has to do the same

Persistency ratio must improve for life insurance customers: CEOs at BFSI

Work done by life insurance industry led to economic revival amid Covid

Irdai to introduce 'Bima Vahaks' to expand insurance force: Rakesh Joshi

BS BFSI Insight Summit 2022: The insurance companies are also in the process of developing state-level insurance plans in collaboration with state governments, Joshi added

Proposed changes to insurance laws may cause health claim disputes: Unions

The Unions also said the proposed amendments does not define the term liability which may lead to misappropriation by the insurers

BFSI stocks flex muscles in Nifty50 this year, but still short of 2019 peak

The combined m-cap of 11 BFSI companies in Nifty50 is up 12.3% so far this year

Health premiums on the mend: Non-life insurance in double digits

Group health plans drive the 29% growth in health premiums during the first eight months of FY23

Delhi HC directs Irdai to introduce products for persons with disabilities

The Delhi High Court has directed the Irdai to ensure the products are introduced on an early date for persons with disabilities so as to enable them to obtain health insurance coverage

In a first: Bajaj Allianz set to launch surety bonds on December 19

SBI General Insurance and Tata AIG General Insurance are also said to be looking at launching a surety insurance product soon, said sources

New business premium of life insurance companies rises 30% in November

Private insurers' APE growth rebounds after lagging behind for three months

Govt to launch first surety bonds for road contractors on December 19

Will provide relief to contractors, free working capital stuck in bank guarantees, says Gadkari

More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

GIEAIA asks Centre to send insurance amendment Bill to Parliamentary panel

The amendment Bill should be first sent to the Standing Committee of Finance in Parliament, demands the General Insurance Employees' All India Association (GIEAIA)

Govt proposes issuance of one licence for all insurance businesses

Suggests allowing insurers to sell other financial products