Page 90 - Insurance

Irda to have new formula for persistency

The regulator will disclose new formula in next few weeks

Over 36 lakh insurance agents terminated in last 4 years

Life Insurance Council says companies need to augment their agency force with 15-20% growth every year in number of agents

Motor segment drove premiums for general insurers in FY13

While motor third party insurance is mandatory in India, own damage insurance is optional

Insurance industry sees rise in profitability

Life insurance, which has seen slowdown in new business premium collection, has also fared better in terms of profitability

Demand for liability insurance on the rise

Insurers in ops for 3 years can set up foreign branches

Insurers' non-operating fin arms under spotlight

Rules don't allow subsidiaries to hold stake in insurance firms

Life insurers see marginal rise in new business premium

General insurers see 22% premium rise

Irda to examine NOFHc structure for insurance companies

As per present rules, a subsidiary company cannot hold stake in an insurance company

Smokers spend 56% more than non-smokers on life insurance

Aviva Life research says a smoker pays Rs 12,292 annually as life insurance premium for a 10-yr term plan with a sum assured of Rs 1 cr

Reliance Life eyes higher profits in FY'14

The company had recorded its first full-year net profit in the financial year ended March 31, 2012

S K Roy takes charge as LIC MD

Roy joined the largest insurance company in the country in 1981

Insurers should maintain records of all transactions: Irda

These norms are in conformance to the Prevention of Money Laundering (Amendment) Act 2012

Insurers take social media route to promote business

Insurers are also exploring methods of helping customers renew their policies using social networking accounts

FinMin to soon notify 30% investment cap for LIC: Takru

Justifying the decision to treble LIC's investment limit, Takru said the Corporation was sitting on trillions of rupees which have to be invested

Irda allows insurers to set up business abroad

Irda has issued guidelines for Indian companies to set up life, general or reinsurance business abroad

Phaneesh case brings focus on India Inc's liability policy

The policy premium ranges between Rs 4 lakh and Rs 10 lakh, based on the sum assured of Rs 6 cr and above

FM-LIC Board meet: LIC asked to open 1,800 new offices

Increase in insurance penetration is top agenda

Insurers in operation for 3 years eligible to set up foreign office: Irda

'Foreign insurance company' shall mean a company registered outside India whose paid-up capital is subscribed to by an Indian insurance firm

Insurance regulator meets brokers, assures steps to address concerns

Brokers have demanded that there should be a reduction in penalties for them