For D&O insurers, the US especially is a highly complex market...
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High-rise Fire: Hong Kong catastrophe shows how difficult it is to evacuate in emergency
Evacuations of high-rises don’t happen every day, but occur often...
Universal Coverage:Rebuilding India’s Health Insurance Architecture
Health insurance sector itself is facing headwinds with 12-15%...
World Day of Social Justice: Deeper dialogue across ‘real economy’ can drive progress
Poverty and inequalities within and among countries are on the rise in many parts of the world. Inequality remains very high, with annual gross domestic product per capita ranging from about $600 at purchasing power parity in the poorest country to more than $115,000...
Indian aviation market & tailwinds of growth
"With the economy growing and disposable income growing, there is a huge opportunity for Indians to travel abroad… This 75 million passengers is likely to go to 120-125 million over the next 7-10 years," Union minister Jyotiraditya Scindia said. A raft of factors --...
Budget-2023-24:Beyond tax-saving-driven insurance sales
Bhargav Dasgupta – MD & CEO, ICICI Lombard For a sector such as general insurance, where the industry has sought tax support for increased spend on home insurance or health, there is a message that they will have to strive for growth beyond tax-saving-driven...
Budget-23-24:Boosting Indian re/insurance sector
Leaders of the Indian insurance Industry have hailed the Budget-2023 as positive for the economy which will throw a lot of opportunities for the insurance industry Devesh Srivastava, CMD, GIC Re Finance Minister has delivered a holistic and futuristic Budget ensuring...
Budget 2023-24:Taxing Time for Life Insurers
Government aims to plug the arbitrage which HNIs and other wealthy individuals are employing to get healthy tax-free returns on their lumpy Non-Par insurancepurchases The cap of Rs5 lakh will be applicable for all policies bought across insurers. Thus, as the policy...
Indian Economy: Kicking into high gear
Among other notable differences: India’s middle class remains significantly smaller. Fully capturing the nation’s demographic dividend — perhaps its biggest advantage compared to bigger economies — will require broader wealth creation that resolves high unemployment...
“Most of the policyholders have misconceptions about health and motor policies” ICICI Lombard Survey
Sanjeev Mantri, executive director, ICICI Lombard General Insurance said, “Insurance policies tend to have a lot of complex jargon, which is difficult to understand by a layman. This is where insurance literacy comes into play. The only way to accelerate financial...
India Protection Gap: Term insurance ownership remains stagnant
The following findings reveal insights that highlight urban India’s shift in attitude and approach towards financial preparedness as shown in a survey-India Protection Quotient 5.0,fifth edition(1st edition of the survey was done in 2019) conducted by Max Life...
Budget- 2023-24: “Cut GST rate from 18% to 5% on health insurance premiums”
It is expected that the government in the upcoming budget comes up with a series of measures to boost this sector, thus considering 5% GST tax slab on health insurance premium to make it more affordable for the people living in the middle-income group to get access to...
India may become the sixth largest insurance market in the world by 2032: Swiss Re Report
India will become the sixth largest insurance market in the world in terms of premium volume by 2032, up from 10th largest in 2021 Life insurance profitability in India to benefit from rising interest rates. Pandemic-related claims continued to impact life insurers’...