Life Insurers

Irdai grants life insurance registration to Acko & Credit Access Grameen

With the entry of these two firms into the space, the number of life insurance companies in the sector goes up to 25, after remaining stagnant since 2011

Irdai advises firms about minimum rate rule for reinsurance treaties

Regulator's instruction is about burning or break-even cost calculated to estimate the expected losses for a policy

Investors react positively to LIC's good showing in second quarter

LIC posted a record rise in the Q2 profit after tax (PAT) to Rs 15,950 crore, up 10x year-on-year (YoY) compared to Rs 1,433.71 crore a year ago

Life insurers register 15% rise in new biz premium at Rs 24,916 cr in Oct

The new business premium income of India's life insurance companies rose by 15.3 per cent to Rs 24,916.58 crore in October 2022, data from the Life Insurance Council showed. All the 24 life insurers had a collective new business premium income of Rs 21,606.25 crore in the same month a year ago (October 2021). LIC -- the only state-owned and the largest life insurer in the country -- recorded 18 per cent rise in its new business premium at Rs 15,920.13 crore during the month, as against Rs 13,500.78 crore a year ago. The rest 23 players in the private sector witnessed their combined new business premium increasing by 11 per cent to Rs 8,996.45 crore, as against Rs 8,105.46 crore in October 2021. On a cumulative basis, all the 24 players registered 35 per cent increase in new business premium income during April-October period of 2022-23 at Rs 2,06,893.51 crore as against Rs 1,53,588.14 crore in the same period of 2021-22, as per the data.

Building trust: LIC plans bonus shares to shore up faltering stock

Insurer also eyeing higher dividend to regain investor confidence

Growth, moderate valuations positive for ICICI Prudential Life Insurance

Value of new business growth and margins remained strong in Q2

Life insurers' new biz premium up 17% at Rs 36,367 cr in September: Irdai

The new business premium income of domestic life insurance companies rose by 17.3 per cent to Rs 36,366.53 crore in September of this fiscal year, data from Irdai showed on Tuesday. All the 24 life insurance companies had a collective premium income of Rs 31,001.17 crore in the same period a year ago. The largest and the only state-owned insurer LIC recorded a jump of nearly 35 per cent in the new premium income of Rs 24,991.26 crore in September 2022-23, as against Rs 18,520.21 crore in same period of 2021-22, showed the data from the Insurance Regulatory and Development Authority of India (Irdai). However, the rest of the 23 players in the private sector witnessed a decline of 8.9 per cent in their combined new premium income during the reported month at Rs 11,375.27 crore as against Rs 12,480.96 crore a year ago. Among the private sector players: SBI Life registered a fall of 15 per cent in new premium income at Rs 2,471.37 crore; HDFC Life down by 22.3 per cent at Rs 2,165.97 .

LIC taking steps to transform corporate governance: DIPAM Secretary

Some of these steps include improving LIC's 13th month and 25th persistency ratio, which is less than its peers

Life insurers' new business premia up 18% in August despite large base

In FY23, so far, non-life insurers have reported a 19 per cent growth in premia to Rs 1.02 trillion

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

Supply-side constraints weigh on retail protection biz for life insurers

Protection segment, overall, has witnessed decent growth, mainly because of strong traction in the credit life business, buoyed by disbursement from banks and NBFCs.

LIC debut is 2nd worst among 11 global firms that raised over $1 bn in 2022

The poor listing is set to disappoint millions of small-time investors who bid enthusiastically for the issue because of their long and emotional association with the insurer and its products

Life insurers log new business premium growth of 84% in April, led by LIC

Life insurance companies logged 84 per cent growth in their cumulative new business premium at Rs 17,940 crore in April 2022, primarily helped by LIC, Irdai data showed.

LIC effect: Life insurers' February new business premium rises 22%

NBP is the premium acquired from new policies for a particular year

New business premium of life insurance firms sees tepid growth

NBP of the overall industry in January reported a marginal 2.65 per cent growth to Rs 21,957.04 crore over the same period a year ago.

Covid provision pool lowered, but 'we got you covered': Life insurers

As claims burden drops, life insurers hold enough reserves, cushioning balance sheet against risk

Indian insurers put in place waiting period for people recovered from Covid

People who have recovered from coronavirus infection will have to wait for up to three months before they can take a new life insurance policy

Buying a term plan? Go by hard numbers while selecting a life insurer

Avoid insurers with large difference in claims settled by number of policies and by benefit amount

Life insurers' new biz premium income nearly flat at Rs 24,466 cr in Dec

The new business premium, or the first year premium, of 24 life insurance companies had stood at Rs 24,383.42 crore in December 2020

Life insurers' new business premium spikes 42% at Rs 27,177 cr in Nov

Profitability a worry with excess reserves on balance sheet for Covid claims