No policy in case of life insurance shall be issued unless...
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IRDAI unveils regulations for Bima Sugam, services will be free for customers
Bima Sugm will officially called as Rashtriya Bima Sugam Nigam Ltd...
Underwrite disruptions to improve market penetration: IRDAI chief to insurers
Debasish Panda,chairman, IRDAI "There is a need to come out of the...
Nearly 50% cancer patients are uninsured, study
A majority of oncologists believe that cancer incidences are likely to increase by almost 25 per cent over the next five years. Breast Cancer is likely to account for a greater proportion of these incidences followed by Lung, Oral, and Cervical Cancers.
Insurers’ Wish-List for the Budget 2019-20
“We are hoping for positive tax benefits in the home insurance area as in the last year we have seen some major calamities and home insurance has certainly gained importance. We are also hoping for some regulatory framework in the healthcare/pharma industries to make insurance a reality for all in India”Rikhil Shah, Chief Financial Officer, SBI General Insurance
PolicyBazaar aims to collect Rs 3,500 crore premium in FY19
Policybazaar.com has backing from a host of high-profile investors including Softbank, InfoEdge (Naukri. com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital.
Why many Americans will never be able to retire
Some see this as a positive trend, because it adds to the economy. But others rightfully view it with trepidation, because there’s the distinct possibility that many of these elderly people just can’t afford to retire. Whether their nest eggs were wiped out in the housing crash, or they just didn’t save enough, or whether their kids don’t make enough money to support them, the decline of retirement seems like an ominous development.
LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI
“LIC, with its higher stake in IDBI Bank, is still an investor and not a promoter of the Bank as we will ask LIC to lower its stake in IDBI Bank from 51 per cent. We haven’t decided how much time we would allow LIC to lower its stake in IDBI Bank.,’’ said Nilesh Sathe, member, LIfe, IRDAI
Mathur Panel favours health insurance claim payments in installments
The IRDAI had constituted the Mathur panel as earlier,various general/ health insurance companies had proposed to provide an option for payment of claim benefits in respect of Personal Accident (PA)/ Benefit Based Health insurance policies in installments.
HDFC Life net at Rs 913 cr, up 20 %, in Apr-Dec
Vibha Padalkar, MD & CEO said “We continue to grow faster than the industry and sustain our leadership position on profitability. Our commitment towards diversification, both in terms of product mix and distribution, has helped us withstand macro as well as regulatory headwinds. We believe that our focus on the three tenets of protection viz. mortality, morbidity and longevity, coupled with our aspiration of being the leading digital life insurer in India, will enable us to make the most of the long term growth potential of the life insurance industry.
LIC completes acquisition of 51% stake in IDBI Bank
“The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies,” IDBI Bank said in a BSE filing
MoF shortlists four names for LIC chairmanship
The senior officials of the LIC who have been shortlisted are M R Kumar Zonal Manager(ZM), Delhi, Vipin Anand Zonal Manager, Mumbai, TC Suseelkumar, ZM, Hyderabad, Raj Kumar CEO, LIC Mutual Fund
World’s oldest man dies in Japan at 113
Japan has one of the world’s highest life expectancies and was home to several people recognised as among the oldest humans to have ever lived. They include Jiroemon Kimura, the longest-living man on record, who died soon after his 116th birthday in June 2013. The oldest verified person ever — Jeanne Louise Calment of France — died in 1997 at the age of 122, according to Guinness