Page 2 - General Insurers

Non-life insurers' premiums up 5% in FY21 on huge contraction in motor biz

In March, premiums of non-life insurers went up by 23%

Irdai brings draft rules for general insurers on product design, pricing

The regulator has asked all stakeholders to give their views on the draft guidelines before April 26

General insurers' underwriting losses up 6.3% in FY20: Irdai Annual Report

While state-owned insurers' losses rose 1.12% to Rs 18,741 cr, those of private insurers were up over 26% to Rs 3,647 cr

Non-life insurers record 6.7% growth in gross premiums in January

This comes after a double-digit growth in premiums in December and low single-digit growth in November, preceded by contraction in September and October

Non-life insurers see around 12% growth in December premiums, shows data

In the April-December period of FY21, the general insurers' premium totalled Rs 1.25 trillion, up 1.14 per cent over last year

Non-life insurers see 2.7% growth in premiums in November at Rs 14,981 cr

Non-life insurers were in the red in September also, with premium collection slipping 4.41 per cent

General Insurers should be allowed in surety bond biz: Irdai working group

This is because surety bond insurance is yet to develop in India and risk exposure under this business is significant compared to other more mature lines of business

Premiums of non-life insurers rise 10.38% in Aug, health insurers gain most

General insurers, 25 in all, saw their premium collection go up 5.57 per cent in August 2020 to Rs 13,139.63 crore, compared to Rs 12,445.83 crore in the same period last year

General insurers received 80,900 Covid claims worth Rs 1,290 cr till Jul 31

The number of claims settled by insurers as on July 31 is 52,880 and the claim amount paid, around Rs 490 crore

Govt calls off merger of the three public sector general insurers

Cabinet approves capital infusion of Rs 12,450 crore in these three companies

Investors' high expectations raise risk for stocks of general insurers

Benefits of lower claims could get offset by subdued premium collection and fixed costs

Irdai chief asks general insurers to cut expenses, improve efficiency

Also, he advised the life insurers to focus more on improving their persistency ratio

PSU general insurers continue to lose market share, merger plan stuck

All, barring New India, have been losing market share for a while. However, United India has gained marginally this January

General insurers want FDI raised to 74%, valuation remains a concern

Some even want 100% FDI; last week apex body General Insurance Council held meeting with members to discuss the issue of FDI

State-owned firms dominate list of insurers in equities, LIC grabs top spot

Private players, however, gaining in terms of equity assets they manage

General insurers' premium rises 23% to Rs 12,959 crore in February: Irdai

The gross premium collected by all the 34 insurers in the general sector stood at Rs 10,573.70 crore during the same month a year ago

General insurers to see higher motor TP sales after Irdai's rate revision

For private cars whose engine capacity does not exceed 1,000cc, the regulator has proposed to decrease the premium to Rs 1,850 for 2018-19, from Rs 2,055 in 2017-18

Insurers can sell motor cover via dealers without tie-ups

The move will offer customers choices in terms of pricing apart from increased competition

GIC, NIA to be listed before October

Centre expects good valuation on them once they make their market debut

Bitter-sweet story for general insurers

While general insurance companies in India have been posting net profits, they have seen a worsening condition as far as underwriting profits are concerned