Page 66 - Insurance
Future Generali targets 20% growth in FY15
Company posted a profit of Rs 39.62 crore in FY 13-14 against a loss of Rs 19.70 crore last fiscal
 "Future Generali targets 20% growth in FY15")
PFRDA targets 10 mn NPS subscribers for FY15
NPS is the contributory pension scheme launched by the Union government in January 2004
G-Sec issuance: New 10-yr benchmark bond not this month
Yield ends at seven-week low tracking gains in rupee
Life insurers line up products at Irda's door
Companies filed products in March since 'five products a year' proposal implemented from April
 "Life insurers line up products at Irda's door")
LIC likely to invest Rs 3.5-lakh cr in FY15
Of this, it is expected that Rs 40,000-50,000 cr will be put into the equities market
 "LIC likely to invest Rs 3.5-lakh cr in FY15")
Insurance regulator makes insurance repository must for life insurers
Compulsory for all life insurers and Insurance Repositories to participate in Pilot launch
 "Insurance regulator makes insurance repository must for life insurers")
LIC sees slide in new premium collection
Sales affected due to lack of new products, says MD
 "LIC sees slide in new premium collection")
Insurance data not likely to be transferred to cloud servers
While industry officials want cloud servers, Irda may not allow due to fears of data breach/leak
 "Insurance data not likely to be transferred to cloud servers")
Non-life insurers premium income up 12% in Mar at Rs 77,541 cr
The non-life insurers had underwritten gross premium of Rs 69,086.49 cr in March 2013
 "Non-life insurers premium income up 12% in Mar at Rs 77,541 cr")
Insurance agent mentoring plan gathers dust
Most insurers have a basic training course for new agents in the system to acclimatise them with the industry practices and its standard style of functioning
 "Insurance agent mentoring plan gathers dust")
Uncertainty looms over pvt NPS fund managers' future
In the earlier bidding process that took place last week, sources said Reliance MF had emerged the lowest bidder at one paisa for every Rs 100 of NPS funds, and others were required to match it
 "Uncertainty looms over pvt NPS fund managers' future")
As equity markets rally, Ulip surrenders rise
Also, renewals of such products have dropped significantly in the past few months
 "As equity markets rally, Ulip surrenders rise")
Govt to set health rider for 49% FDI in insurance
Finance ministry considers tax sops, regulation of hospitals to make health care affordable
 "Govt to set health rider for 49% FDI in insurance")
Ulip surrenders rise as equity markets rally
Insurers say customers are rushing in to book immediate profits
 "Ulip surrenders rise as equity markets rally")
FinMin looking at raising FDI cap in insurance with riders
Govt may raise the FDI cap in the sector gradually beginning with non-life and health followed by life insurance segment
Non-life premium income rises 6.7% to Rs 8,421 cr in April
New India leads pack with 13.94% rise, private firms' income up 4.77%
Hyderabad has least critical illness insurance cover
However, 89% of the respondents believe health insurance is a necessity for tobacco users given the increasing hospitalisation costs
 "Hyderabad has least critical illness insurance cover")
Bancassurance issue: Life insurers move towards non-bank distributors
Insurers said that they are moving away from bancassurance due to it reaching a saturation point
HDFC MF begins process of merging Morgan Stanley MF schemes
Gives exit option to unit holders of Morgan Stanley MF
Insurers in bind over mandatory customer bank a/c details
Top officials at various insurers to make representations before IRDA and the govt for easing of these norms
 "Insurers in bind over mandatory customer bank a/c details")
