It&rsquo;s a dog&rsquo;s life &ndash; in insurance, too. Though public sector general insurers and some private ones have offered this cover to tap the growing number of canine lovers in the country, interest in the product has been languishing.

It's a dog's life in insurance, too

Business Standard

Public sector United India Insurance is expected to cross the Rs 10,000-crore premium mark by the end of this financial year, a growth rate of 25 per cent, Chairman-cum-Managing Director Milind Kharat said.

'United India to cross 10,000-cr premium'

Tata AIA Life Insurance Co Ltd (formerly Tata AIG Life Insurance) is seeing attrition at senior management levels. According to sources, five senior management executives are in the process of leaving the organisation.

Five senior execs quit Tata AIA Life Insurance

The Insurance Regulatory and Development Authority (Irda) has expanded the definition of &lsquo;infrastructure facility&rsquo; under its Registration of Indian Insurance Companies Regulations.

Irda amends rules to redefine meaning of 'infrastructure facility'

In a first ever move by the finance ministry to seek life insurers&rsquo; view on taxation issues, it has invited suggestions from life insurance companies for making changes in direct and indirect taxes for the sector, to be considered in the Union Budget 2013-14. In a letter to the Life Insurance Council, the ministry has called for suggestions and views for changes in the duty structure, rates and broadening of tax base, giving economic justification for the same.

FinMin seeks life insurers' view

Reserve Bank of India (RBI) Governor D Subbarao today said the disenchantment with &lsquo;casino banking&rsquo; in certain developed economies underscored the dangers of over-financialisation of the real economy.

Cooperative model leads to inclusive growth: D Subbarao

Although the finance ministry has given the green signal to Life Insurance Corporation (LIC) to increase its stake in a company to up to 25 per cent, the Insurance Regulatory and Development Authority is wary of the systemic risk of the move.

Irda wary over LIC's plan to increase stake

The Insurance Regulatory and Development Authority (Irda) would release the final guidelines on investment limits for insurance companies in the next couple of days, sources said. The guidelines would cap the debt portion of the investment by insurance companies at 55 per cent, against the current 85 per cent.

Irda to release investment limits by next week

The government on Wednesday said the cap on stake that state-owned Life Insurance Corporation (LIC) can hold in companies would raised to 30 per cent from 10 per cent at present.

LIC allowed to hold 30% equity in a firm

ICICI Lombard General Insurance has launched a new travel insurance product International Travel Insurance. The policy provides medical insurance abroad, along with coverage for all trip-related risks. International Travel Insurance provides coverage on a host of medical and non-medical expenses that the policyholder could incur while travelling abroad. The company&rsquo;s tie-up with US' United Health Care helps take care of the insured's bill settlement directly.

ICICI Lombard launches global travel insurance

The premium collections of life insurers stood almost flat with just a 2.3 cent rise in October at Rs 6,851 crore, compared to the corresponding month last year, according to data from Insurance Regulatory and Development Authority (Irda). While the new business premiums of private life insurers were marginally down with a one per cent drop in October, compared to October 2011, Life Insurance Corporation of India (LIC) saw a four per cent rise.

Life insurers' premium collection rises 2.3% 

The Insurance Regulatory and Development Authority (Irda) plans to shift insurance companies to a risk-based solvency model from the current factor-based solvency model.

Irda looking at risk-based solvency model for insurers

Insurance companies aren&rsquo;t at all enthusiastic on the idea of a policy covering the Human Immuno Deficiency Virus (HIV), which leads to the dreaded AIDS infection.

Insurers wary of HIV cover proposal

The Insurance Regulatory and Development Authority (Irda) is set to put an insurance company&rsquo;s investment limit for the entire non-promoter group of an investee company at 15 per cent.

Irda finalises investment norms, to notify soon

SBI Life Insurance has launched a guaranteed traditional savings plan called Smart Income Protect. It offers tax-free regular income at a guaranteed rate of 11 per cent of the sum assured or paid sum assured, for 15 years after maturity.

SBI Life Insurance launches guaranteed savings plan

The Insurance Regulatory and Development Authority (Irda) has modified its earlier proposals on guidelines for participation in credit default swaps (CDS). It proposes that CDS will only be allowed on listed corporate bonds.

Irda proposes credit default swaps only on listed corporate bonds

Pension products, which were absent from the life insurance sector for the past few quarters, are back to the market. HDFC Standard Life Insurance is among the first to launch a pension product based on the new guidelines for pension schemes. The company will launch the product on Monday.

Pension products to throng insurance market

Finance Minister P Chidambaram today announced a revival package for the life insurance sector. The steps include easing investment norms for insurance companies, faster product clearances and tax incentives to improve insurance penetration in the country.

Insurers set to get room to spread wings as investors

The rise in the cap on foreign direct investment in the insurance sector is just one aspect of the Insurance Laws (Amendment) Bill, 2008, approved by the Cabinet on Thursday. The Bill also seeks to bring more customer-friendly measures and growth to the industry. This, insurance companies say, would lead to a revival of the industry.

Bill caters to various sections

With the Cabinet clearing the proposal of 49 per cent foreign direct investment (FDI), the next logical step should have been revival of initial public offer (IPO) plans of insurance companies. However, insurers do not seem to be too buoyant.

Insurers may not go for public offers

The finance ministry&rsquo;s proposal to allow insurance companies to invest in AA-rated securities will broaden investment options for insurance companies but is also likely to expose their policyholders to higher risk.

Page 96 - Insurance