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IRDAI asks insurers to keep their branches open on Mar 30- 31
`Insurers may take note of the above and give adequate publicity to...
LIC, GIC Re and New India continue to be Domestic Systemically Important Insurers(D-Slls) in 2023-24:IRDAI
D-Slls refer to insurers of such size, market importance, and...
IRDA clears 16 Regulatory Sand Box proposals from 8 insurers
This is for the first time Regulatory Sandbox proposals from life insurers have been approved as in the first tranche the regulator had only allowed such proposals from only general insurance companies.
South Korean isurers hit hard by evaporating investment returns
As if they needed another headache, insurers are also having to cope with indebted Korean households increasingly scrimping on insurance. The Korea Insurance Research Institute sees sales of new life insurance products dropping for a fourth straight year in 2020.
Maha govt mulls insurance for staff treating COVID-19 patients
In a Facebook live, Maharashtra Health Minister Rajesh Tope said apart from the insurance cover, the government also plans to give monetary incentive to the staff.
Manulife partners with dacadoo to help customers in Asia make healthier lifestyle choices
Using behavioural science, online coaching functions and curated wellness content, the Manulife-dacadoo partnership will enrich ManulifeMOVE’s offering. The enhanced capabilities, which feature dacadoo’s patented Health Score, will provide customers a new scientific yet simple scoring method to measure how healthy they are and what they need to do to stay healthy.
LIC announces relaxation for premium payments
“In view of extraordinary circumstances prevailing in the country on account of COVID-19, LIC of India has announced relaxation to its policyholders in payment of premium due on in-force policies up to 15th April, 2020. Policyholders are requested to stay indoors and avoid visiting any office to pay premium. The policyholders of LIC can however use online services of LIC and click at at https://licindia.in/Home/Pay-Premium-Online to pay premium online,”the life insurer said in a statement on Sunday.
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US life insurers go slow on new policies to limit Coronavirus risk
Credit ratings firms AM Best and Fitch Ratings this week revised their outlooks for U.S. life insurers from stable to negative as the global economic meltdown rattle U.S. life insurers
An historic stock market slump and interest rate cuts will pressure life insurers’ earnings, reserves and capital, Fitch said on Tuesday.
Swiss Re, Zurich insurance in talks with Swiss regulator about Coronavirus Impact
Insurers — as well as the re-insurers who take up their losses — are assessing the cost of disruptions related to the virus – which has claimed the lives of more than 10,000 and put swathes of the U.S. and Europe on lockdown. The industry has worked to reduce its exposure to pandemics since the 2003 outbreak of SARS in Asia. Over recent years, that’s included tightening their policies by inserting communicable-disease exclusions in contracts.
LIC sells 2.14 cr policies,exceeds its target for the fiscal
The corporation is confident of crossing its target of 2.5 crores policies well before end of current fiscal year, said a press release by the LIC.
IFRS 17 to be implemented from Jan 1st, 2023:IASB
“We encourage companies to continue to press forward at current pace and use this additional time to strengthen their processes and procedures as well as allow for more testing, dry runs and contingencies. We also believe a shared effective implementation date for IFRS 17 and IFRS 9 will avoid temporary earnings mismatches that would otherwise exist and reduce implementation costs,” said Ralph Ovsec, Senior Director at insurance and reinsurance broker Willis Towers Watson.
Flipkart partners with Aegon Life Insurance to offer paperless life insurance policy
Bengaluru: Flipkart, and Aegon Life Insurance have joined hands to sell comprehensive insurance solutions to its customers. An instant digital policy with a sum assured of up to 10 lakhs, will be available to consumers from March 2020. With instant...