Page 40 - Insurance

IndiaFirst gets Rs 150-cr capital infusion

The new round of capital infusion takes the total share capital to Rs 625 cr

IndiaFirst Life gets Rs 150 cr additional capital infusion

Three promoters infuse more capital as per shareholding pattern; no dilution of stake now

Seniors seeking higher health cover

Insurers say from an average of Rs 2-3 lakh, the size of cover has risen to Rs 5-6 lakh

Banks to be liable for the insurance they sell

Irdai chief T S Vijayan says intermediaries should work in the best interest of insurance policyholders

Reinsurance norms to be finalised soon: IRDAI chairman

T S Vijayan says he expects at leat 4-5 foreign reinsurers to enter the domestic market

Irdai to have inspection, consumer affairs depts in Mumbai

Insurance executives say Mumbai office will give them greater access to the regulator

Irdai panel suggests better disclosures

Non-life insurers see 'appification' of claims, sales

Liberty Videocon General Insurance is the latest to launch a tab-based claims surveyor application for faster motor claims processing

Neelesh Garg appointed MD and CEO of Tata AIG General Insurance

Garg was earlier executive director at ICICI Lombard General Insurance

General insurers' motor problem

Third-party claims mount in this segment on account of past policyholders, with the permitted later recovery an uncertain procedure; annual loss estimated at Rs 500 cr or more

IRDAI to look into financial position for giving listing approval to non-life, health, reinsurers

Regulatory record and capital structure post issue prior to giving approval will also be taken into consideration

Incurred claim ratio will lead to premium reduction: Irdai

Demand for solar project insurance picks up

There is not only an increase in solar projects, but a rise in international investment as well

Royal Sundaram Alliance to increase presence in health, commercial insurance

The company plans these businesses to have a better share in the GWP of Rs 4,000 crore expected by 2020

Star Union Dai-ichi Life expects 30% growth in new premiums in FY16

Dai-ichi Life of Japan to raise stake to 44% in insurer once Bank of India off-loads 18%, formal application to FIPB to be made

Swiss Re finds big gaps in insurance coverage

Finds that mortality protection gap has seen 11% CAGR from 2004-2014 in India

Life insurers' new premium grows by 13.8% in April-August period

Life insurers collected first year premium of Rs 45,871 cr during April 1, 2015 to August 31, 2015 for the period as compared to Rs 40,296 cr

Irdai issues guidelines for social, rural sector obligations

5% of total policies to be in social sector from 10th year

Insurance honchos to face variable pay clawbacks

Factors like persistency, claims settlement, grievance redressal to play part in pay

Indians may be considered for all top posts at insurance companies

While raising their FDI in these companies to 49% might get foreign partners a higher shareholding, their role will be limited