Page 8 - Insurance Industry

Non-Life insurers' underwriting losses rise on higher claims, competition

Intense competition, frequency of catastrophes and higher claims are some of the reasons behind the losses.

Insurers see rise in health claims; lockdown reduces motor segment demands

Fewer claims are supposed to improve the insurers' loss ratio in the motor segment, but the industry is divided on this

BS insurance roundtable: Focus must be on underwriting profit, say experts

CEOs of leading non-life insurance companies discuss innovation, impact of technology, and reducing the industry's reliance on investment gains

A snapshot: Insurance sector has undergone a sea change, but issues remain

Business Standard brings you a snapshot of the Indian insurance industry

Insured deposits constitute 28.1% of assessable deposit base at March-end

As of 2018-19, the premium collected from member banks was Rs 12,040 crore, of which commercial banks contributed 93 per cent while cooperative banks accounted for the remaining 7 per cent

PSU general insurance companies seek capital infusion prior to merger

According to rough estimates, the need is at least Rs 2,000-3,000 crore in each of the companies, the total collective requirement is close to Rs 12,000-13,000 crore

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

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

Irdai asks insurance firms to mitigate risks to prevent IL&FS-type fiascoes

Following the recent defaults by entities like the IL&FS, the regulator Irdai Thursday said insurance companies will have to think about mitigating their risks by not concentrating their investment in a few entities. The regulator also said insurers need to diversify their investment strategies so the risks faced by them are multi-dimensional. "Insurance firms will have to think how they will mitigate their own risks also and must diversify. If they concentrate all risks in a few entities then they will be in trouble," Irdai chairman Subhash Khuntia Khuntia at an industry event. Last week Khuntia had said insurers having exposure to IL&FS, which has a debt of over Rs 94,000 crore, should make provision and not to write them off. Many insurers and mutual funds have exposure to the debt instruments of the crippled IL&FS group which was taken over by the government last October and the national insurer LIC owns the maximum stake in the crippled company with ...

Insurance industry goes on tech drive as it eyes more customers in India

2018 was also a year of digitisation and launch of customer-friendly products

Insurance industry to touch $280 bn by FY20 as awareness rises: Study

Insurance penetration in the country reached 3.7 per cent in 2017 from 2.71 per cent in 2001

BS Insurance Round Table 2018: How insurers fared after going public

While listing on the bourses has improved visibility, low penetration and shift to financial savings will drive growth

BS Insurance Round Table: Real challenge is how to run NHPS, says expert

Heads of leading insurance companies came together to share their views on the sector

Meet Arun Chandra Mukherji, the grand old man of India's insurance industry

Says when we found we had to shut the business of selling polices to people, we turned to reinsurance

Where there is a will, there is a dispute

Giving teeth to nomination, which the insurance industry has done, will ease matters substantially