The report observed that India's insurance sector is strong and...
Category:
Life
Latest
Bajaj Finserv shares slip over 4 pc in 6 months amid insurance deal
Bajaj Finserv will spend Rs 13,780 crore to acquire the general...
LIC dispels Rahul Gandhi’s concern over new IRDAI rules making insurance unaffordable for poor and affecting agents
“ We want to clarify that LIC has introduced products that align...
4.4 million are in “serious financial difficulties” and a further 20% are “struggling” to get by in UK
Of those in serious financial difficulty, 71% have reduced the quality of food they eat, 36% have sold or pawned possessions and 27% have canceled or not renewed insurance London: The number of UK households facing acute financial strain has risen by almost 60% since...
PNB to select an actuarial firm for 23% stake sale in Canara HSBC Life Insurance to HSBC
At present, PNB has stakes in two insurance firms -- PNB MetLife India Insurance Company Limited (PNB MetLife) and Canara HSBC OBC Life Insurance Company Ltd (CHOICE) HSBC Insurance (Asia Pacific) Holdings Limited, that holds 26 percent in Canara HSBC Life Insurance,...
IRDAI considers 12 new insurance players for licenses
Debasish Panda, chairman, IRDAI The entities who have applied for the new licenses are Paytm General Insurance, Anzen General Insurance ( R1 filed in July), Ria General Insurance( R1 applied), Kshema General Insurance(Agriculture Insurance, R2 under process),Cosmea...
Insurance agents association urge IRDAI not to display commission on policies
The policyholders will bargain hard with agents to part with their due earnings without considering any kind of administration, technology development and other recurring and daily growing expenses including the sky-high rentals and salaries which would soon and...
Life insurance premiums rise by 40% to Rs 73,674 crore in Q1 Fy 2022-23
Recently listed LIC posted a 35.39 per cent growth in its new premium collection to Rs 48,201 crore in the June quarter 23 private sector life insurers led by SBI Life, at Rs 25,473 crore, registered a 48.75 percent growth in their new premium collection in the June...
Bajaj Allianz Life launches QR Code enabled services for its customers
Pune: In an industry-first initiative, Bajaj Allianz Life Insurance has launched QR Code Enabled Services, that provides customers access to 15 popular services on their phone After scanning the QR Code available in the company’s 509 branches, they can make premium...
Inflationary recession, a key concern for global re/insurance industry: economists and strategist at Geneva Association meeting
Given the instability and distortions that come with protracted high inflation, it could have a negative impact on the growth of insurance markets and insurance penetration. Insurers have a big tool kit at their disposal to respond to inflation, for example through...
LIC to invest Rs 80.67 crore in rights issue of its Nepal joint venture
LIC, which got listed on the bourses in May, will hold its first Annual General Meeting on September 27, 2022, according to stock exchange filing. Mumbai: State-owned LIC will invest Rs 80.67 crore in the proposed rights issue of its joint venture LIC (Nepal) Ltd. The...
Govt replaces BBB with Financial Services Institutions Bureau(FISB) for selecting top management of PSU banks & insurers
FSIB will be a single entity for making recommendations for appointments of executive directors, and non-executive chairmen in PSU banks, CMDs, general managers and directors of public sector insurers, said the DoPT order With setting up of FISB, the selection...
IRDAI sets stiff annual premium targets for life insurers for next 5 yrs, eyes 6.18% penetration by 2027
To grow faster, the insurers need capital and IRDAI is planning to enlarge the basket of instruments through which they can raise capital Life Insurance Corporation has to mobilise almost a total premium Rs 16 lakh crore , HDFC Life Insurance(Rs 2.66 trillion),SBI...