Page 3 - Insurance Firms

Irdai issues norms to protect group policyholders of merging state banks

Moreover, Irdai has said a bank in its capacity as a group organizer may have group insurance arrangements with any number of insurance firms

PSU insurance firms seek Rs 12,000-cr infusion as merger put on fast track

The financial condition of the three companies has, meanwhile, deteriorated and warrants capitalisation, if the merged entity is to be listed

Cipla plans to partner Ayushman Bharat; start dialogue with insurance firms

There is a plan to identify a list of essential medicines, including antibiotics, painkillers, etc, which the company may supply to the Ayushman Bharat-empanelled hospitals.

Irdai may allow banks to hold over 10% stake in multiple insurance firms

Irdai chairman says considering proposal to change rules for lenders

Irdai slaps Rs 2-cr fine on India Infoline Insurance for violating norms

The regulator has penalised the broker with a fine of Rs 1 crore each for violating norms on related party transactions and not having its own office infrastructure

Private Cos pull out of PM crop insurance scheme due to unviable biz model

ICICI Lombard General Insurance, Tata AIG and Cholamandalam MS General Insurance, have pulled out of the Pradhan Mantri Fasal Bima Yojana

Govt may set up GoM to expedite merger of three insurance companies

Frail financial health of firms, difference of opinion among depts creating a roadblock

EY sets 18-month timeline for merger of three insurance companies

It will also conduct a valuation exercise of the assets of the firms

Govt insurance firms post huge losses as merger delay hits business

The three insurance companies have posted high losses in Q2FY19, given their premium growth reduced and provisions rose. Multiple reasons accounted for the losses

Insurers pull out $4 billion from equities in 2017

Domestic insurance firms sold stocks for the eight consecutive month in August, taking their year-to-date net sales past the $4-billion mark. This contrasts sharply with the inflows from domestic mutual funds and the buying spree by foreign portfolio investors (FPIs), which have net-bought Indian stocks this year.Insurers are one of the largest drivers of Indian stocks, besides foreign institutional players. In the past, insurance firms such as Life Insurance Corporation of India (LIC), the country's largest insurer, have helped prop up the market against steep falls. Year to date, India's benchmark Sensex has risen about 19 per cent. In this period, FPIs have net bought shares worth $7.1 billion, while mutual funds have shopped for stocks worth $10.8 billion. Insurers, on the other hand, have sold shares worth $4.3 billion.According to experts, Indian stocks have become expensive and there is a bias away from stocks, but recent outflows have been led by redemption (withdrawal) ...

Insurance firms tap blockchain for ease of transaction

13 companies to create pool of policyholder data; to lower cost for insurers

Indian insurance firms lag globally in digitisation: Report

Says will need to adopt technology required to launch products that meet customer needs

Insurers pull $1.9 bn from stocks

Remain net sellers for six months in a row, in a sharp contrast to foreign portfolio investors, domestic mutual funds