Regulation

UAE Takaful companies catching up with conventional peers

International News       Apr 17, 2019

LONDON: Takaful operators continue to gain traction in the United Arab Emirates (UAE) insurance market as the Takaful segment’s profitability has improved significantly in recent years, according to a new special report by AM Best. In its analysis of the preliminary disclosures of the nationally...

GIC Re's move to hike reinsurance prm challenged in Telengana HC

Indian News       Mar 30, 2019

  Mumbai: Hyderabad based Laurus Labs Limited has challenged the recent circular issued by the state owned GIC Re, hiking the reinsurance rates in the eight categories of industries, in the Telengana High Court.    GIC Re, in a circular issued on Feb 21 and implemented since ...

IRDAI clears new norms for life products and Indiabulls entry as a non-life insurance player

Indian News       Mar 28, 2019

  Hyderabad: The insurance regulator IRDAI has finally approved a set of significant changes in the current regulations on product guidelines for linked and non-linked life insurance policies that would impact designing term, credit life and micro-insurance products by the players..   The board of the regulator...

IRDA postpones annual revision of Motor TP tariff due on Apr 1

Indian News       Mar 28, 2019

  Hyderabad: With the enforcement of code of conducts, due to forthcoming general election, the insurance regulator IRDAI has deferred its annual revision of third party motor tariff, which is normally revised on Apr 1 of every year, for the time being.   The pricing of the...

Marsh & McLennan receives final regulatory approvals on buying JLT on April 1

International News       Mar 25, 2019

  The European Commission has approved its $5.6 billion acquisition of Jardine Lloyd Thompson Group plc, said Marsh & McLennan Cos. (MMC) March 22 t.   With the approvals from European Commission, all regulatory and competition authority approvals required to close the transaction have now been satisfied,...

U.S weighs bids for putting Automated Vehicles on roads

International News       Mar 20, 2019

  The U.S. National Highway Traffic Safety Administration said Friday it was seeking public comment on General Motors’ 15-month-old petition seeking approval to deploy a limited number vehicles on U.S. roads without steering wheels or other human controls.   The agency also disclosed that Softbank-backed driverless delivery...

S C Khuntia, chairman, IRDAI

Govt sets up a high level panel under IRDAI chairman to overhaul Indian insurance sector

Indian News       Mar 17, 2019

  New Delhi:  In a bid to overhaul the Indian insurance sector, almost after 20 years of liberalisation of the industry,  the centre has appointed a high level panel under the chairmanship of S C Khuntia, chairman,IRDAI, just before the Modi government is ending its five-year ...

Govt to soon start selection process for new PFRDA chairman

Indian News       Mar 17, 2019

   New Delhi: The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April.   "The Finance Ministry will soon come out with an advertisement to...

HDFC Ergo provides Title Insurance for Mumbai's real estate project  

Indian News       Mar 15, 2019

  Mumbai: HDFC ERGO, country’s third largest non-life insurance provider in the private sector, today announced the adoption of their Title Insurance policy by Shraddha Landmark Private Ltd (SLPL), for their upcoming project in Bhandup (West) near Neptune Mall, off the LBS Road in Mumbai..   Title...

IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

Indian News       Mar 11, 2019

New Delhi:: Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.  ...

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