Page 5 - Life Insurance Industry

LIC sees rebound in business after months of slide due to Covid-19 crisis

With the spread of coronavirus and the subsequent lockdown imposed by the government, LIC saw its new business premium (NBP) fall 31 per cent year-on-year (YoY) in March

Irdai allows life insurers to sell short term benefit-based Covid policies

Non-life insurers can sell both, benefit-based and indemnity-based short-term health covers

Life insurance sector to see green shoots in medium to long-term: Edelweiss

With an uncertainty over cash-flows in focus, a goal-based financial planning has become a priority area for many families and insurance as a product category has seen a spurt in demand

SBI to dilute 2.1% stake in SBI Life Insurance via offer for sale

SBI is expected to mop up almost $202 million via the share sale.

Urgent need to standardise rates in hospitals: ICICI Lombard MD & CEO

The reason we need standardisation is because it will smoothen the process for customers as there won't be any dispute with hospitals, says Bhargav Dasgupta, ICICI Lombard MD & CEO

Covid-19 crisis: Life insurers look to hedge against policy surrenders

As a remedy, life insurers are looking to provide short-term credit - known as bridge loans - to policyholders.

Coronavirus claims have not moved up significantly: Bajaj Allianz's CEO

Tapan Singhel, managing director (MD) and chief executive officer (CEO), Bajaj Allianz General Insurance, in an interview with Subrata Panda, speaks about the company's business during the lockdown.

HDFC Life reports 17% decline in pre-tax profit to Rs 284.47 cr in Q4

Net profit also declined 14% on account of loss in investment income and higher provisions.

Covid-19 impact: Life Insurer's new business premium declines 32% in March

For the month of March, the new business premiums of life insurance companies stood at Rs 25,409 crore compared to Rs 37,459 core in March 2019.

Quick approval, grace period: Medical insurance process eased amid Covid-19

Use instalments to increase cover; benefit from quick approvals

Covid-19: Life insurers to bite short-term bullet for future growth

Covid-19 is expected to result in improved awareness and importance about life insurance as a risk cover

Covid-19 to hit life insurers for now, but may boost long term gains

Covid-19 is expected to result in improved awareness and importance of life insurance as a risk cover rather than a mere investment product

Life insurers will not invoke 'force majeure' clause for Covid-19 claims

This step was taken to reassure customers who had reached out to individual life insurance companies seeking clarity on this clause

We will grow in single digits due to coronavirus: Max Life Insurance MD

Prashant Tripathy, managing director and chief executive of Max Life Insurance, spoke to Subrata Panda on how the sector will be impacted, the change in strategy of the company

Insurance industry plans to sell more term products under new tax structure

In the past couple of years, life insurers, mainly private players, have been pushing protection products to improve margins as these term plans enjoy a higher margin

How LIC should be valued

The Life Insurance Corporation differs from its listed peers in a number of ways, and these should be factored into its valuation prior to its proposed initial public offering

Explained: Why life insurance is a must for stay-at-home housewives, too

The spouse's economic value can be arrived at by estimating the cost of outsourcing such services

Life insurers' new premium, led by LIC, jumps 94% to Rs 32,241 cr in June

The country's largest life insurer LIC, which is the only state-owned life insurance firm, witnessed more than two-fold rise in its new premium collection

Life insurance players clocking strong growth in protection policies

The share of these more-profitable products grew by 700 basis points in Q1, a trend analysts see continuing

Insurance companies plan to use blockchain to share customers' medical data

Each player has to know whether particular claims have been received and paid by other companies, and if the customer has been flagged for fraud or violations before