Page 7 - Insurance

In the works at IRDAI: Making Indian insurance firms less risk-averse

The regulator hints at relaxing the FDI cap still further but it is unclear yet whether doing so would spread insurance to the bottom of the pyramid

PhonePe sells over 1 mn two wheeler insurance policies on its platform

Sees over 75% of overall insurance purchases from tier 2 & 3 cities

Insurance market in India to grow rapidly, reach $222 bn by FY26: Report

According to homegrown firm Redseer, new online distribution models like business to consumer (B2C), business to business (B2B) and business to business to consumer (B2B2C) are key drivers of growth

InsurTech models to help Indian insurance mkt hit $222 bn by FY26: Redseer

New online distribution models such as B2C, B2B and B2B2C are key drivers of growth, with B2C in particular, gaining significant opportunities.

European Union to ban insurance for tankers that carry Russian oil

Ship insurance companies not only cover the physical damage to the hull and machinery of the vessel but also provide protection and indemnity (P&I) against third-party liability

After market's fall from peak, it's time to review your portfolio: Experts

With interest rates on home loans on the upswing, plan for prepayments

EU may introduce insurance ban for ships carrying Russian oil: Ukraine

This ban is one of the most serious financial instruments of the EU's influence that the bloc has at its disposal to harm the Russian economy, Andriy Yermak, Head of Office of the Ukraine Prez said

Irdai fines Deinon Risk Rs 10 lakh for acting as insurance intermediary

The firm did not have a valid registration with the insurance regulator

Govt raises premium for flagship insurance schemes PMJJBY, PMSBY

This is the first revision in the premium rates since inception of both Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana in 2015

Insurance firm Howden to raise stake in Indian arm to 100%%; gets Irdai nod

Global insurance broker Howden said it has received insurance regulator Irdai's approval to raise its stake from 49% to 100% in its Indian arm

AXA set to launch mental health insurance in Indian group policies

The first-ever standalone product in this space will provide Rs 25,000 for virtual consultations with therapists, psychologists and life coaches, and up to Rs 1 lakh for hospitalisation

PMJJBY subscription increases to 128 mn, PMSBY at 284 mn in 7 years

Changes introduced by the government in the claim settlement process have led to quicker and easier settlement of claims during the pandemic, Finance Minister Nirmala Sitharaman

Madhavbaug's PAT up 785 per cent in FY22

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LIC IPO opens today. Should you subscribe? What brokerages suggest

While LIC policyholders are entitled to Rs 60 discount over the issue price, the retail investors will be offered the issue at a discount of Rs 45 per equity share

IRDAI suggests new modules for low-income group, small businesses

The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi MI (Micro Insurance) products.

Insurtech platform Turtlemint raises $120 million in Series E funding

The latest funding round has valued Turtlemint at more than $900 million.

Insurers allowed exposure to fin, insurance upto 30% of investment assets

Accordingly, the limit of 25% of investment assets stands revised to a limit of 30% of investment assets

Air India takes Rs 60,800 cr cover for its fleet, paid Rs 266 cr premium

Under new policy, Air India can't fly in Russia, Ukrainian airspace due to war

Insurance takes on a new cover

Online channels have demonstrated exponential growth over the last few years, especially after the pandemic

New business premiums of life insurance companies jump 37% in March

In FY22, life insurers post 13% growth in new biz premium, compared with 7.5% growth in FY21