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IRDA constitutes 2 panels to sort out reinsurance issues in life and non-life insurance industry

IRDA constitutes 2 panels to sort out reinsurance issues in life and non-life insurance industry

by AIP Online Bureau | Jul 11, 2022 | Indian News, Life, Non-Life, Regulation, Reinsurance

Non-life panel headed by Bhargav Dasgupta, MD and CEO, ICICI Lombard General Insurance, to deliberate on issues like Obligatory Cession, Cession cap on cross boarder reinsurers, introduction of emerging risk transfer solutions (ART, ILS, CAT bonds etc.), and...
IRDAI considers 12 new insurance players for licenses

IRDAI considers 12 new insurance players for licenses

by AIP Online Bureau | Jul 9, 2022 | Indian News, Life, Non-Life, Reinsurance

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...

Non-life insurers’ gross premium income rises 24% to Rs 21,327 cr in April

by AIP Online Bureau | May 13, 2022 | Health, Indian News, Non-Life

The five standalone private sector health insurance companies posted a 29.14 per cent growth in their collective gross premium income during the month at Rs 1,550.14 crore, as against Rs 1,200.34 crore in the year-ago period Mumbai: The gross premium income of...
Future Enterprises to exit insurance business, to raise Rs 3,000 cr via insurance biz sale to pare debt

Future Enterprises to exit insurance business, to raise Rs 3,000 cr via insurance biz sale to pare debt

by AIP Online Bureau | May 8, 2022 | Indian News, Main Menu, Non-Life

Kishor Biyani-led group Future Enterprises would completely exit the insurance sector after selling its existing stakes in life and non-life joint ventures soon Mumbai: Debt-ridden Future Group firm Future Enterprises Ltd expects to raise around Rs 3,000 crore from...

AM Best maintains its negative market segment outlook on India’s non-life insurance

by AIP Online Bureau | May 2, 2022 | Eco/Invest/Demography, Health, Indian News, Non-Life

The Best’s Market Segment Report, titled, “Market Segment Outlook: India Non-Life Insurance,” states that key lines of non-life business, including health, motor and crop insurance, have been challenged for several years by poor underwriting performance. Despite an...
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