Page 9 - Insurance

HDFC Life completes acquisition of Exide Life; merger to take place shortly

'The acquisition will accelerate the scale-up of the proprietary channels, strengthen presence in South India and across tier 2 and tier 3 locations,' HDFC Life said

Equitas SFB, Cholamandalam MS for women-centric health insurance policy

Equitas Small Finance Bank (SFB) on Monday said it has tied up with Cholamandalam MS General Insurance to launch a women-centric health insurance policy Chola Sarva Shakti.

Deposit insurance reforms to instil confidence in people on banking: PM

At Vigyan Bhawan, the Prime Minister said banks play an important role in the progress of any nation

Non-life insurers' gross direct premium up 5.5% to Rs 15,743 cr in Nov

The 31 non-life insurance companies had written premiums worth Rs 14,919.43 crore in November 2020

Life insurers' new business premium spikes 42% at Rs 27,177 cr in Nov

Profitability a worry with excess reserves on balance sheet for Covid claims

Life insurers' NBP set to expand 14% in FY22 on higher growth in H2: Icra

The rating agency expects the private players' profitability to remain subdued in FY22 due to high claims in Q1

Star Union Dai-ichi Life Insurance raises maiden 10-year bond at 7.75%

The spread between the 10-year sovereign bond yields and the coupon offered by the insurance firm works out to around to about 140 basis points

Insurance claim to be rejected if lapsed on premium not paid: SC

The apex court observation came while setting aside an order of NCDRC that ordered additional compensation in a road accident case

Insurers' Covid-related health claims outgo falls 35% in July-Sept quarter

Settle Rs 5,000 cr of claims in Q2 against Rs 7,700 cr in June quarter; non-Covid outgo rises

Public insurers lost 30% motor segment business since FY18: Care Ratings

Amongst the states, Maharashtra continues to occupy the top spot followed by Tamil Nadu, Karnataka, and Uttar Pradesh in motor business for insurers.

Post LIC IPO, 60% of insurance biz to be with listed entities: Official

The sector as a whole has been growing at a pace significantly higher than that of the overall economy, says dditional Secretary in the Finance Ministry Amit Agarwal

LIC to have CEO, MD as govt does away with Chairman post ahead of IPO

To facilitate the listing of the insurance behemoth, the government has already approved raising its authorised share capital to Rs 25,000 cr\

Shocked by Covid deaths, young Indians rush for life insurance

During devastating second wave in April and May, the numbers of people aged between 25 and 35 buying term insurance was 30% higher than in previous 3 months combined, said PolicyBazaar

Life insurance companies' new premium business up 45% at Rs 9,739 crore

While the NBP of private insurers, 23 in total, grew 55.18 per cent over the same period last year, state-owned Life Insurance Corporation reported 35.6 per cent growth

Run for cover will need longer strides: Insurance experts at BS Webinar

At Business Standard webinar on De-risking the Risk Business, they say one can expect a deadline extension for the implementation of IFRS 17, given the Covid pandemic

Insurers see adverse impact of Covid-19 claims on their loss ratio

Indian insurers had not factored in the impact of Covid claims while underwriting their products

Amid Covid-19 pandemic, India's insurance sector has seen contrarian growth

The industry has outperformed its global peers, but mostly by exiting the bottom of the pyramid

Irdai allows insurers to invest in debt instruments of InvITS and REITS

Securities should not be rated below 'AA' under the "approved investment" category. In case the instrument is subsequently downgraded, it will be part of "other investments"

Amid Covid scare, life insurers go slow on renewing group-term plans

The adverse claims experience of life insurers have made them apprehensive of renewing group-term policies of some corporate entities

High demand for comprehensive health policies as Covid cases soar again

Covid plans were in huge demand last year but have since petered out