Page 4 - Insurers

ICICI Prudential Life announces Rs 867 cr bonus for policy holders

ICICI Prudential Life Insurance has announced an annual bonus of Rs 867 crore for all eligible participating policy holders for FY2021.

FM calls for faster claim settlement under PMJJBY in meeting with insurers

Nirmala Sitharaman stressed the importance of streamlining the process and documentation requirements

LIC: Govt may seek proposals from investment banks for mega IPO in June

An offering could happen as soon as March 2022, say sources

Govt notifies solvency rules for foreign-owned insurance companies

Rules mandate 50% profit in general reserve if solvency margin is not maintained after profit repatriation, half the board should consist of independent directors

Insurers must boost digital play on Covid-driven interest in sector: study

Over 60% insurance execs say Covid-19 affected their firm's customer acquisition efforts, 40% cited impact on customer retention

Insurance giant LIC to have five working days starting from May 10

Saturdays have been declared as a holiday for the insurer.

Covid-19: Centre requests states to vaccinate bankers, insurers on priority

The central government has written to all the state governments and union territories (UT) requesting them to have special arrangements to vaccinate bankers and 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%

Go for group life insurance cover if policy rejected, say analysts

You can opt for insurers with easier underwriting, or alternatively, a standard term

ICICI Lombard: Leadership position supersedes other issues for investors

Higher investment gains continue to compensate for underwriting losses; improving product mix is positive

Covid-19 impact on claims may force insurers to review prices: Irdai exec

General and standalone health insurers have received 938,640 claims related to Covid-19 till March 15, says Suresh Mathur

Insurers may soon be able to launch covers without regulator nod

In 2019, there were 439 actuaries and in a year, that number has gone up by just 19

Vidal Health Insurance buys Vipul MedCorp TPA for an undisclosed amount

In general, these admin­istrators are independent, but can also act as an entity belonging to the insurers

Irdai removes curbs on dividend payout as insurers deliver better results

But, it has advised them to take a conscious call while declaring dividends for FY21, keeping in mind their capital position, solvency margin and liquidity position

Irdai panel suggests introduction of index-linked insurance products

An Irdai panel has made a case for the introduction of index-linked insurance products (ILIP) an apt alternative to the current conventional guaranteed products and ULIPs

Insurers face 'mind-blowingly' large loss if Tokyo Olympics cancelled

With less than six months until the Games are due to start, the competition will top the agenda when the International Olympic Committee's (IOC) executive board meets this week

Indian insurers to withstand pandemic-led downturn: Moody's

Indian insurance companies are likely to withstand the economic downturn exacerbated by the coronavirus pandemic, the report said

Insurers asked to adopt one aspirational district each, says IRDAI Chairman

IRDAI chairman is concerned over low level of insurance penetration in the country

Forge agreement on coronavirus treatment rates: Irdai to insurers

However, the insurers should make efforts to have agreement with health providers on rates for treatment of Covid-19 similar to other diseases

Insurance regulator keeps obligatory cession at 5% to GIC Re in FY21

The entire obligatory cession has to be reinsured with India's largest reinsurer, General Insurance Corporation of India (GIC Re)