Page 50 - Insurance

Irdai allows applicants to set up insurance office in SEZ

The regulator said these insurers or reinsurers can accept reinsurance business of all classes of business within the SEZ and from outside the country

IRDAI draft norms says foreign reinsurer's branch in India to retain 50% business

The regulator said that the branch office shall be capable of underwriting risks and settle claims

Insurance industry rides the IPL wave

At least Rs 2,000 crores have been spent to avoid any loss that might occur out of cancellation or truncation of matches

LIC to tie up with Bandhan, UBI

At present, banks can only tie up with one life, one general and one health insurance company, apart from specialist insurers

LIC to offer Jeevan Jyoti Bima to Dena Bank savings account holders

PMJBY will be a group life insurance cover and would be renewed annually on June 1 every year

Nuclear pool: Private sector insurers chip in with Rs 100 cr

The total size of the nuclear pool, which was officially kicked off from April 1, is Rs 1,500 crore

Health Insurance TPA to begin operations on July 1

Company in process of setting up software processes and hiring personnel

Insurers with bank promoters to seek clarity on caps on business from one entity

Irdai said corporate agents cannot get more than 90 per cent business from one insurer in one category in the first year

Banks' exclusive sales tie-ups with insurers set to end

Each corporate agent can tie up with up to three insurers, in the life, general and healthcare categories

Low rise for motor third-party insurance premiums

Motor third party premiums to see marginal hike for FY16

For private cars and two wheelers, rates from April 1 would only go up by Rs 65-340 in this segment

Bajaj Allianz Life launches Young Assure

Bajaj Allianz Young Assure comes with an in-built premium waiver feature in case of an unfortunate event

Bharti Axa to reduce focus on group health plans

The company enters travel insurance segment with launch of SmartTraveller

Life insurance sector may end year with new premium growth

LIC, the largest player, has seen a 40% growth in March 2015 in new premium compared to February 2015

No IPO plan from general insurance firms

Poor valuations, problems in claim ratios, staff opposition for state-run units among issues to be addressed

Insurance industry favours 40-50% hike in 3rd-party motor premium

On March 9, regulator had proposed an increase in the third-party premium, ranging between 14% and 108% from April 1

Indians have misconceptions about health insurance: Survey

The study was conducted to understand how health insurance is perceived, bought and utilised in India

Digitised policies to soon be mandated for high premium policies

Insurance repositories will be involved in the process of maintaining these policies in a digital format

Reserve Bank on loans in areas hit by natural calamity

A National Crop Insurance Programme was implemented from 2013 and loanee farmers are compulsorily covered under this component scheme

LIC sees 40% growth in new premiums in March

Plans to launch Ulip soon; looks at investing in 20-year, 40-year bonds