Another concern is the rising cost of claims. The report explained...
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3 PSU general insurers need Rs 152-170 billion to achieve a solvency ratio of 1.50x in FY 2026, says ICRA
“Gross domestic premium income(GDPI) growth is expected to improve...
Rising Resilience: With Rs154 cr net profit in Fy25,United India unveils strategies to push growth and profitability
``Focus is on to tapering down the loss ratios especially in Motor,...
India’s electric vehicles value chain revenue pool expected to reach USD 76-100 billion by 2030: Report
The report indicates that 35–40 per cent of all vehicles sold in India by 2030 will be EVs, up from 2 per cent in 2022. This equates to approximately 14 million to 16 million new EVs sold each year Mumbai: India's electric vehicles (EV) value chain revenue pool is...
RGIC launches new health cover
Reliance General Insurance Company (RGICL), launched first of its kind premium health insurance product – Reliance Health Infinity Policy. The product comes loaded with high sum insured up to Rs5 crores, superior features like MoreGlobal Cover, Maternity Cover, OPD...
Over 1,500 private hospitals empanelled under Ayushman Bharat in last one year: Mandaviya
Union Health Minister Mansukh Mandaviya Today, 4.5 crore needy people have been empanelled under the scheme, the minister said He said seven-eight lakh beneficiary cards are printed daily and the ministry was working to ensure that 50 crore cards are made available in...
Budget-2023-24: Tax incentive to promote Home Insurance
Rakesh Jain, CEO, Reliance General Insurance In spite of pandemic, the health insurance penetration in our country is very low. Due to such a low coverage, the cost of insurance becomes high. In order to bring down its cost, GST rate should be reduced to 5% from 18%....
Govt notifies IRDA’s new regulations on `Registration of Indian Insurance companies” facilitating larger PE investment
-Investment through Special Purpose Vehicle (SPV) has been made optional for Private Equity (PE) Funds enabling them to directly invest in insurance companies, providing more flexibility, Now, subsidiary companies are also allowed to be promotors of insurance...
China’s factories to the world brace for Tsunami of Covid cases
The resulting eruption in infections is set to be a key test for a vast network of factories that account for almost one-third of the world’s manufacturing output. Those plants are now taking extraordinary steps to ward off infections From locking in workers to...
PSU insurers see shrinking workforce as pvt sector ramps up hirings
In 2021-22, the PSU general insurers have reduced their number of employees to 42,500 from 49,149 in 2020-21 while the private sector general insurers including five stand alone health insurers have grown their workforce aggressively to 1,09,000 in 2021-22 from 92,966...
Russian insurer Ingosstrakh says no plans to cover new sanctioned clients
“We are not willing and will not provide short-term P&I (Protection and Indemnity) coverage for vessels caught up by the new Turkish regulations at the mouth of the Bosphorus,” Ingosstrakh said Russian insurer Ingosstrakh said on Monday it has no plans to offer...
Auction base price hiked by Rs 1.5K cr to Rs 6.5K cr for Reliance Cap bidders
According to the new rules, the bidders, in the first and second round, will have to increase the bid value by minimum Rs 1,000 crore each. This means the first bid has to be minimum Rs 7,500 crore and the second Rs 8,500 crore. The auction will now take place on...
2302 claims of Rs 50 lakh each cleared under insurance scheme for health workers fighting Covid: Govt
Fifty-three claims have been paid to the families of doctors in Bihar, 64 in Uttar Pradesh, 43 in Maharashtra, 38 in Karnataka and 37 each in Tamil Nadu and Andhra Pradesh, Minister of State for Health Bharati Pravin Pawar said in a written reply to a question in...