Page 4 - Life Insurance Industry

HDFC Life announces Rs 2,180-cr bonus for insurance plan subscribers

HDFC Life on Wednesday announced a bonus of Rs 2,180 crore to its policyholders subscribing to participating insurance plans.

New business premium of life insurance firms declines 5.5% in May

Private insurers' NBP jumped 14 per cent in May, while state-owned Life Insurance Corporation (LIC) reported a decline of 12.3 per cent

Covid-related death claims have become a concern: Bajaj Allianz Life CEO

The experience in group term has been worsening because group term is more efficient in reporting claims, says MD Chugh

No immediate worry about solvency due to surge in Covid claims: Irdai chief

Irdai Chairman Subhash Chandra Khuntia talks to Subrata Panda on a range of subjects including shareholding of banks in insurance firms

LIC eases policy claim settlement process to mitigate customer hardships

To mitigate the hardships faced by customers due to the pandemic, LIC said policyholders can deposit their maturity claim documents at their nearest LIC office anywhere till the end of the month.

Price hike in term insurance plans may not impact demand: Experts

Despite the price rise, term plans are relatively cheaper in India than in the US or even Singapore, said experts

Life insurance industry net profit down 8.4 % to Rs 7,728.30 cr in FY20

The life insurance industry registered a decline of 8.4 per cent in net profit at Rs 7,728.30 crore in 2019-20, Irdai's annual report showed on Wednesday.

Life insurers' new business premiums up 3.7% in Jan after two slump months

This is despite state-owned insurance behemoth LIC reporting a 2% decline in NBP in the same period to Rs 13,143.64 crore

LIC drags new premium biz down 3% in Dec, private life insurers fare well

The new business premium of life insurance industry contracted by 3 per cent year-on-year to Rs 24,383.42 crore in December

I-Pru Life: Retail focused portfolio, no investment risks augur well

Share of protection at 17 per cent in Q2 was its best-ever performance

Max Financial gets Irdai nod for share swap agreement with Mitsui Sumitomo

Irdai's approval takes Max Financial Services one step closer to the consummation of its deal with private lender Axis Bank

Confident of returning to double-digit growth by FY21-end: LIC chairman

The pandemic has shed light on the importance of life insurance. It may become an essential part, says Kumar

SBI Life, HDFC Life: Should you bet on insurance stocks amid Covid-19?

ICICI Lombard is heading towards an all-time high of Rs 1,440.40 with strong intensity.

Why insurance firms are poised to march past the banks on the stock market

They make up 43% of the m-cap of banks today and many, including LIC, will soon be listed; by contrast, not a single yet-unlisted bank is so massive as to create ripples when it goes public

Do your research well before buying a life insurance plan for the long run

Customers must also avoid the temptation to cash out of their policies mid-tenure, once they have gathered considerable fund value.

Covid-19 impact: Life insurers lose 4 mn policies, Rs 45,000 cr in premiums

Traditionally, the second fortnight of March is the most productive period for the life insurance business as around 15-18 per cent of the entire business comes during this period

Life insurers find their mojo but experts sound cautionary note

Product launches will be critical for companies to sustain the momentum this financial year, especially in the term-protection segment

LIC expects steady growth in life insurance premiums by December quarter

The first quarter of FY21 was a rough one for life insures because NBP contracted 18.64 per cent to Rs 49,335 crore against Rs 60,637 crore in Q1FY20 due the lockdown.

Ensure cashless facility for Covid-19 treatment: Irdai to insurers

It has asked insurers to take appropriate action against hospitals in case they deny cashless facility to policyholders and deviate from the agreed terms of the service level agreements.

Life insurance industry to recover in next quarter, says CARE Ratings

CARE Ratings, in a note, said growth could potentially return in Q2 or Q3 and distribution channels could see significant realignment, with digital sales rising at the cost of individual agents