Page 3 - General Insurance

General insurance industry's GDPI to grow by 10-12% in FY23: Report

The rise is led by higher growth in the health and commercial business segments with increasing awareness of medical insurance and uptick in economic activity, Icra Ratings said in a report

Buy optimal mix of base plan and super top-up to check cost of health cover

If your insurer has hiked the premium rate excessively, consider porting

Term insurance necessity for women, add critical illness cover: Experts

Most insurance experts concur that women don't buy term insurance - one policy that can provide adequate protection - in large enough numbers

ED slaps Rs 80-cr fine on Magma HDI, Sanjay Chamria, Mayank Poddar

The total amount of penalty of Rs 80 crore is to be deposited within 45 days from the date of receipt of this order

MFIN to launch natural catastrophe insurance cover for micro borrowers

The MicroFinance Institutions' Network is planning to introduce this product with Cholamandalam MS General Insurance as insurer

Insurance Gazette: Need to retain the learnings and transform further

Industry leaders speak about the challenges the industry has faced over the past year, fintech, and how the pandemic is shaping consumer behaviour

Insurance Gazette: Some discipline is needed in the healthcare ecosystem

Industry leaders speak about the learnings over the past year and the opportunities for progress that the pandemic has provided

BS BFSI INSIGHT SUMMIT | Session on General Insurance & Life Insurance

Shriram General Insurance expects Rs 750 cr underwriting profit this year

Jaipur-based Shriram General Insurance, which is primarily into motor insurance with over 90 per cent of the business coming in from this vertical, is expecting around Rs 750 crore underwriting profit this fiscal as its expects gross written premium income to touch Rs 2,200-2,300 crore. The Chennai-based Shriram Group firm has closed H1 of the fiscal with around Rs 800 crore in premium income and expects it to nearly treble in the second half on the back of the better-than-expected economic recovery, says Anil Aggarwal, the managing director & chief executive of Shriram General that was the first general insurer to underwrite only motor premia when it began 13 years ago. Shriram General Insurance, which manages Rs 10,500 crore of AUM which it expects to cross Rs 50,000 crore over the next five years, is a joint venture between Shriram Capital, the group holding company, and the South African financial services group Sanlam, and was set up in 2009. Today it's the seventh largest ...

Delay in getting strategic investor a concern for Rel Gen: Brickworks

RGICL faces competition from the private as well as public sector general insurance companies in India

Reliance General Insurance Q2 net profit rises 18% to Rs 73 crore

Reliance General Insurance Company Ltd (RGI) on Wednesday reported an 18 per cent rise in net profit at Rs 73.34 crore for the quarter ended September 2021. The insurer had posted a net profit of Rs 62.19 crore in the same quarter a year ago. However, the profit was down sequentially from Rs 75.78 crore in the June 2021 quarter. Total income of the company rose to Rs 199.70 crore during July-September period of FY22, as against Rs 193.22 crore in the year-ago quarter, RGI said in a regulatory filing. Final dividend of Rs 0.04 per equity share for FY21 has been accounted for during the September 2021 quarter, it added. The company further said its board of directors during its meeting on Wednesday noted the resignation, dated September 14, 2021, of Mohan Khandekar as the company secretary and chief compliance officer. He will be serving his notice period, it added.

ICICI Lombard reports marginal increase in net profit at Rs 446 cr in Q2

As the company has merged Bharti Axa General Insurance business with itself, the numbers are not comparable with the previous year's numbers

Street likely to view general insurers favourably

Stocks of listed players ICICI Lombard and New India Assurance have lagged in FY22, so far

Indian insurance sector: Shakeout or promoter exits to happen?

Mixed views were expressed by insurance industry officials

Madras HC puts order on bumper-to-bumper cover for new vehicles on hold

Will hear the General Insurance Council on September 13

Bill to privatise state-run general insurance cos gets Parliament nod

A bill to allow privatisation of state-run general insurance companies got parliamentary assent on Wednesday after Rajya Sabha passed it with a voice vote amid tearing of papers

Non-life insurers' premium up 19.46% at Rs 20,000 crore in July

In July, non-life insurers - 33 in total - earned premiums to the tune of Rs 20,171.15 crore, against Rs 16,885 crore in the same month last year

Parliament passes bill for privatisation of state-run general insurers

The General Insurance Business (Nationalisation) Amendment Bill, 2021, was passed by the Lok Sabha on August 2.

Hike in health premiums of products imminent: IFFCO Tokio MD & CEO

Anamika Roy Rashtrawar delves on raging issues in the general insurance sector such as high claims in the health segment and motor insurance returning to a growth path

Amendment to aid insurers' privatisation tabled in the Lok Sabha

General Insurance Business (Nationalisation) Amendment Bill, 2021, will allow private participation in public sector insurance companies