Page 5 - Insurance Companies

Understanding Cashless Bike Insurance and How to avail it

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Taliban suspends insurance companies' operations in Afghanistan

The Taliban on Friday suspended the operations of the insurance companies in Afghanistan till a future notice.In an official letter sent to the insurance companies, the acting government announced the suspension of all the activities of the public and private insurance firms, reported Khaama Press.The letter says the spirit of the insurance industry is under discussion in the Science Academy of Afghanistan to decide whether it is against Islamic practices or not.The suspension spells doom for insurance companies who have invested and carried out financial risks in the country for the last 20-year of the democratic era and open market in Afghanistan.Several private insurance companies in addition to a government-owned insurance entity, have invested and carried out financial risks.The Afghanistan economy went into crisis after the collapse of the Afghanistan government in the hands of the Taliban on August 15 of last year. Hundreds of companies, organizations and projects were shut ...

A premium on execution: Meet Debasish Panda, chairman of Irdai

At the DFS, Panda, 60, created a group of officials to monitor speedier claim settlements for deaths due to Covid-19

Insurance companies step up stock purchases amid market swings

LIC may have also ramped up share purchases to cushion the market against steep falls ahead of its initial public offering, said market watchers

LIC has consistently lost market share in retail segment, says brokerage

After the rebound in November '21, LIC's growth in retail in December '21 slowed, and was materially lower than the private sector

Insurers seek legal recourse for surety bond biz, urge changes in key laws

Reach out to reinsurers for expertise on surety bonds business

At $8.65 bn, LIC 10th most valued insurance brand globally: Report

Life Insurance Corporation, which is bound for the nation's largest share sale by March, is the strongest and the largest brand in the country with a valuation of $8.656 billion

Inflated claim can lead to zero compensation

The National Commission held that the insurer was justified in refusing to settle the claim as the insured had attempted to fraudulently inflate the claim

Irdai issues guidelines for promoting, regulating surety insurance business

Surety bonds protect the beneficiary against acts or events that impair the underlying obligations of the principal

Insurance brokers' advice to become crucial amid tighter underwriting norms

Low existing rates and revision of reinsurance premiums are key driver

Tata AIG to vie for Indian conglomerate's airline insurance business

Air India is insuring its fleet at a premium of Rs 118 crore in fiscal 2021 on a standalone basis.

Term insurance plan premiums may go up by 20% in December-January

Price hike could hold good in medium term, but unlikely to impact demand

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 ...

Insurance firms can fuel the startup ecosystem

The insurance regulator's move to allow insurers to invest in fund of funds creates a significant source of domestic capital for Indian entrepreneurs

Madras HC withdraws its order on bumper-to-bumper insurance cover

The judge hoped and trusted the lawmakers would look into this aspect and examine the need for suitable amendment in the Act relating to wide coverage of vehicles so as to protect the innocent victims

Irdai extends last date for sale of Covid plans till March 31, 2022

Earlier, in March this year, the regulator decided to extend the timeline for the sale and renewal of such policies till September, looking at the prevailing situation

Aon increases stake to 100% in Aon India Insurance Brokers

Aon had acquired a 49 percent stake from former Infosys Chairman N R N Murthy's Catamaran Ventures in 2020

India's insurance companies feel the digital pinch amid Covid-19 pandemic

Globally, the insurance industry is moving to a model where insurance policies and premiums are tailored to customer profiles aided by vast technological leaps

Won't exit fully, but will ensure minimum govt presence in insurance: FM

Sitharaman says may even think in terms of amalgamating, or disinvesting in some entities where even bare minimum is not needed

FDI for bank-promoted insurance firm to be vetted by RBI, Irdai: Govt

Foreign direct investment in an insurance company promoted by a private bank will be cleared by the RBI and Irdai to ensure that the 74 per cent limit of overseas investment is not breached, govt said