Life Insurance Industry
Life insurers may gain from debt MFs being taxed at marginal rate
Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products
IFFCO-Tokio crosses Rs 10,000 crore gross written premium in FY23
IFFCO-Tokio General Insurance on Friday said it has achieved a milestone of generating Rs 10,000 crore of gross written premium for the current fiscal. IFFCO-Tokio General Insurance Company Limited is a 51:49 joint venture between Indian Farmers Fertilizer Co-operative (IFFCO) -- one of the world's biggest cooperative societies -- and Tokio Marine Group, the largest listed insurance group in Japan. HO Suri, Managing Director and CEO of IFFCO Tokio, said there are many segments of the business, which represents growth. However, Health Insurance and Crop Insurance verticals are the top most segments, witnessing a growth of 28 per cent and 47 per cent, respectively, he said. In terms of geographical growth, Suri said Assam, Maharashtra, Madhya Pradesh and Chhattisgarh and West Bengal have shown remarkable growth. "Besides, our active policyholders figure has also been improved significantly. Overall, the gross premium witnessed a growth of 16 per cent compared to the last financial .
 "IFFCO-Tokio crosses Rs 10,000 crore gross written premium in FY23")
Life insurers may gain from debt MFs being taxed at marginal rate
Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products
 "Life insurers may gain from debt MFs being taxed at marginal rate")
ICICI Pru soars 9% after appointment of Anup Bagchi as MD & CEO of company
Anup Bagchi had joined the ICICI Group in 1992 and had worked in the areas of retail banking, corporate banking and treasury.
 "ICICI Pru soars 9% after appointment of Anup Bagchi as MD & CEO of company")
Motor, health drive non-life industry growth; premiums up by 17% till Feb
Till Feb, sector sees premiums going up by 17% to Rs 2.32 trn
 "Motor, health drive non-life industry growth; premiums up by 17% till Feb")
LIC AAO Mains 2023: Admit card released, check download details here
LIC AAO Mains 2023 Phase II (main examination) is to be held on March 18, 2023. A sum of 7754 candidates have been shortlisted to give the exam
 "LIC AAO Mains 2023: Admit card released, check download details here")
Top headlines: AI seals largest plane deal, MSCI readies verdict on Adani
Business Standard brings you the top headlines at this hour
 "Top headlines: AI seals largest plane deal, MSCI readies verdict on Adani")
The life insurance sector's trouble with taxation on high-value policies
The imposition of a tax on high-value policies could hurt the growth rates of life insurers in the next fiscal year
 "The life insurance sector's trouble with taxation on high-value policies")
Covid was the moment of truth for the life insurance industry: Experts
On the part of Irdai, they have relaxed capital requirements in certain lines of business
 "Covid was the moment of truth for the life insurance industry: Experts")
A new dawn for insurance industry: Irdai looks to make sector attractive
Irdai is charting out a long-term road map to markedly increase India's insurance penetration through a supportive regulatory architecture
 "A new dawn for insurance industry: Irdai looks to make sector attractive")
Reliance Capital suitors likely to redraw offers after Budget tweak
The dispute is now pending at the National Company Law Appellate Tribunal (NCLAT)
 "Reliance Capital suitors likely to redraw offers after Budget tweak")
Shriram Life Insurance Company net profit up to Rs 31 crore in Q3
New business individual premium, a key barometer for performance, rose by 19 per cent year-on-year to Rs 167 crore, during the October-December 2022 period
 "Shriram Life Insurance Company net profit up to Rs 31 crore in Q3")
HDFC Life hits lowest level since May 2020; slumps 17% in two days
The government has lifted tax exemption on life insurance policies issued with aggregate premium of over Rs 5 lakh in a year (other than Ulips) with effect from April 1, 2023
 "HDFC Life hits lowest level since May 2020; slumps 17% in two days")
Insurance body GIC opposes govt nominee in life and non-life councils
Says both umbrella bodies are self-regulated and don't depend on funds from finance ministry; govt nominees may hamper their autonomy
 "Insurance body GIC opposes govt nominee in life and non-life councils")
Taxmen probe rich Indians for having foreign policies without approval
Foreign Exchange Management Act (Fema) is triggered when life insurance is bought from a foreign company without RBI approval
 "Taxmen probe rich Indians for having foreign policies without approval")
Higher claims pushed up non-life insurers' underwriting losses: Report
Life insurers paid benefits to the tune of Rs 5.02 trillion in FY22, says regulator's annual report
 "Higher claims pushed up non-life insurers' underwriting losses: Report")
Persistency ratio must improve for life insurance customers: CEOs at BFSI
Work done by life insurance industry led to economic revival amid Covid
 "Persistency ratio must improve for life insurance customers: CEOs at BFSI")
BS BFSI Insight Summit 2022: Meet industry leaders of life insurance sector
Here is the list of industry leaders from life insurance sector on panel for the BS BFSI Insight Summit 2022
 "BS BFSI Insight Summit 2022: Meet industry leaders of life insurance sector")
New business premium of life insurance companies rises 30% in November
Private insurers' APE growth rebounds after lagging behind for three months
 "New business premium of life insurance companies rises 30% in November")
LIC aims to reach a mix of 75:25 between par and non-par in individual biz
The corporation has launched only non-par products this year, which cater to specific segments in its drive to increase the non-par business
 "LIC aims to reach a mix of 75:25 between par and non-par in individual biz")
