R M Vishakha, MD & CEO, IndiaFirst Life, Sujay Banarji,member, distribution,IRDAI and Randip Singh Jagpal, CGM,IRDAI at ‘Curtain Raiser and Workshop on Regulatory Sandbox’ organised by IRDAI and CII in Mumbai on Friday

Regulatory Sandbox a win-win position for regulators and Start-ups:IRDAI

Indian News       Sep 13, 2019

  Mumbai:  Launching the  Regulatory Sandbox Sujay Banarji, member, distribution, Insurance Regulatory & Development Authority of India (IRDAI), said “Regulatory Sandbox will foster collaboration and further the interests of all stakeholders -regulator, insurance companies, start-ups and end consumers.   Banarji, urged insuretech firms to use the facility...

C Vikas Rao, zonal manager, Western Zone,LIC 

LIC western zone sets 11% growth in new premium mop-up in FY20

Indian News       Sep 03, 2019

  Mumbai: National insurer Life Insurance Corporation's western zone is looking to sell 39.75 lakh new policies worth Rs 11,375 crore in premium income this financial year, almost 11 percent over the past fical year.   The western zone consists of Maharashtra, Gujarat, Goa and the Union...

Global reinsurance market to see consolidation, product & service innovation:S&P

International News       Sep 03, 2019

  New York: S&P Global Ratings has kept its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates.   This assessment is mostly based on reinsurers' still-robust capital adequacy and relatively disciplined underwriting, at least so far, supported by well-developed...

Hurricane Dorian slams Bahamas, Florida,expected industry losses range between $11.3bn to $37.2bn

International News       Sep 02, 2019

  The Bahamas felt the full-force of Dorian as a strong Category 5 storm, resulting in significant damage for some islands, while the Florida coast is now at-risk of hurricane force winds, storm surge and torrential rains as Dorian curves northwards.   Industry loss estimates are currently...

LIC settles 259.54 lakhs of claims amounting to Rs1,63,104 cr in 2018-2019

Indian News       Aug 31, 2019

  Mumbai: The Life Insurance Corporation that has entered in to  64th year of its incorporation on 1st September, has achieved 92.95 per cent of maturity claims and 98.27 per cent of death claims settlement for 259.54 lakhs claims amounting to Rs. 1,63,104.50 crore of in...

Bancassurance landscape to see changes after merger of 10 PSBs to change the country's

Indian News       Aug 30, 2019

  Mumbai: With grand new merger schemes ready for the 10 public sector banks(PSU), which has been unveiled by the union finance minister Nirmala Sitharaman on Friday, the bancassurance landscape in terms of ownership and distribution network in country will be changing significantly.   While a few...

Devesh Srivastava, CMD, GIC Re

D Srivastava to head GIC Re, M Poddar selected as AIC CMD

Indian News       Aug 28, 2019

  New Delhi: The Banks Board Bureau (BBB), the recruitment body for selecting top officials of PSU banking and insurance companies, on Tuesday said it has selected Devesh Srivastava, 56, general manager, GIC Re as the CMD of the company.   Malay Kumar Podda, general manager, National...

HSBC considering a bid for Aviva’s Asian operations, reports suggest

International News       Aug 23, 2019

  London: SBC Holdings, the bank that shook up its senior leadership this month, is considering a bid for Asian operations being sold by Aviva as it seeks ways to diversify its business in the region, people with knowledge of the matter said. London-based HSBC is...

IRDA begins pilot projects to boost auto insurance

Indian News       Aug 22, 2019

  Mumbai: Subhash C Khuntia, chairman,IRDAI said on Thursday that the insurnace regulator has initiated a pilot project in four states to ensure motor vehicle insurance is renewed by the vehicle owners who have discontinued their policy.   This is expected to increase the premium collections in...

Interviews on Aug 27 to select chiefs of GIC Re, AIC and MDs of LIC

Indian News       Aug 21, 2019

  New Delhi: Finally,the government has set the date on August 27 to kick start the process to appoint two  CMDs- of Mumbai based GIC Re and New Delhi based Agriculture Insurance Company(AIC)- and two managing directors MDs) of  the Life Insurance Corporation(LIC).   A panel  constituted...

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