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General insurers likely to end FY 2022-23 with a total prm of over Rs 2.5 trn, Pvt sector players’ market share exceed 60%

by AIP Online Bureau | Mar 6, 2023 | Indian News, Non-Life, Reinsurance

Twenty multiline private sector general insurers led by ICICI Lombard General Insurance, have maintained  a formidable lead over the four PSU general insurers by recording a total premium of Rs 1,19,561.38 crore, a y-o-y growth of 21 per cent and have already...

FSIB selects 3 GMDs for PSU general insurance cos

by AIP Online Bureau | Feb 7, 2023 | Briefs, Indian News, Non-Life

The general managers who have been chosen as directors are G Sundaraman from United India Insurance {UII} for the same company, Smita Srivastava, Oriental Insurance Company for New India Assurance and Titus Francis Maliakkel,, NIA for the same company New Delhi: The ...

PSU insurers see shrinking workforce as pvt sector ramps up hirings

by AIP Online Bureau | Dec 15, 2022 | Indian News, Life, Non-Life

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...
Wage Revision: Demand for pay parity with LIC rejected, Govt set to notify 12% hike for PSU general insurance industry

Wage Revision: Demand for pay parity with LIC rejected, Govt set to notify 12% hike for PSU general insurance industry

by AIP Online Bureau | Sep 4, 2022 | Indian News, Non-Life, Policy

GIPSA officials are meeting the ministry officials on Monday to work out the final details of wage revision and the date of notification.. in a late afternoon development on Sunday, the National Confederation of General Insurance Officers’ Association in a...
Wage Revision: Deadlock continues as PSU general  insurance unions insist pay parity with LIC

Wage Revision: Deadlock continues as PSU general insurance unions insist pay parity with LIC

by AIP Online Bureau | Aug 27, 2022 | Indian News, Non-Life, Policy

In a meeting convened by the GIPSA on Saturday to discuss about the restructuring of four PSU general insurance companies, Suchita Gupta, CMD, National Insurance Company and chairperson, GIPSA, had informed the unions that the offering of 12 per cent wage hike to the...
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