General insurers, with value twice of equity base, can tap public: IRDA
September 19th, 2012 - 1:06 am ICT by IANS
Chennai, Sep 18 (IANS) Ten years in business with an embedded value of at least twice the paid capital and maintaining a solvency margin are some of the terms that ... Read more...
Posted in Business |
Penalty on HDFC Standard Life seen as warning
July 3rd, 2012 - 3:37 pm ICT by IANS
Chennai, July 3 (IANS) A warning bugle for the industry is what life insurance officials say of the Rs.1.47 ($333,000) crore penalty imposed by the insurance regulator on HDFC Standard ... Read more...
Posted in Business |
Flexibility needed to fill vacancies at insurance regulator: Expert
May 30th, 2011 - 3:39 pm ICT by IANS
Chennai, May 30 (IANS) The Insurance Regulatory and Development Authority (IRDA) may not face problems in filling up vacancies when two of its top actuaries retire next month if the ... Read more...
Posted in Business |
Insurance regulator faces actuarial vacuum
May 24th, 2011 - 4:47 pm ICT by IANS
Chennai, May 24 (IANS) The Insurance Regulatory and Development Authority (IRDA) is finding it difficult to get replacements for its actuaries, with two of its senior experts in the area ... Read more...
Posted in Business |
Insurance regulator bracing for spat with judiciary
February 14th, 2011 - 3:55 pm ICT by IANS
By V. Jagannathan
Chennai, Feb 14 (IANS) Tasting success in the turf war with the Securities and Exchange Board of India (SEBI) last year in connection with regulating unit-linked insurance policies (ULIPs), the ... Read more...
Posted in Business |
Draft norms for merger of non-life insurers announced
February 10th, 2011 - 12:16 am ICT by IANS
Chennai, Feb 9 (IANS) The Insurance Regulatory and Development Authority (IRDA) Wednesday announced the draft norms for amalgamation of general or non-life insurance companies.According to the IRDA, the draft norms were necessitated ... Read more...
Posted in Business |
Strengthen actuarial departments, says insurance regulator
December 23rd, 2010 - 8:17 pm ICT by IANS
Chennai, Dec 23 (IANS) The Insurance Regulatory and Development Authority (IRDA), the industry watchdog, has asked the 24 non-life insurance companies to strengthen their actuarial department and have it manned by full-timers. ... Read more...
Posted in Business |
Scrapped insurance products bring actuaries in spotlight
October 24th, 2010 - 9:22 pm ICT by IANS
Chennai, Oct 24 (IANS) The Indian actuarial profession is in the spotlight with more than 500 life insurance products being scrapped by the insurance regulator since 2007 for being opaque or against ... Read more...
Posted in Business |
Insurance regulator tightens norms on equity-linked plans
May 4th, 2010 - 4:43 pm ICT by IANS
By Venkatachari Jagannathan
Chennai, May 4 (IANS) The insurance regulator has tightened the norms on all unit linked insurance plans (ULIPs) to offer life cover on these products, even as it is fighting ... Read more...
Posted in Business |
Life insurance industry may grow 10 percent in 2010
February 15th, 2010 - 11:43 am ICT by IANS
By V. Jagannathan
Chennai, Feb 15 (IANS) India's life insurance industry is expected to grow by around 10 percent in 2010 over the previous year, mainly by improving efficiency but also by expanding ... Read more...
Posted in Business |
Insurance regulator may focus on small policyholder this year
February 14th, 2010 - 1:21 pm ICT by IANS
By Venkatachari Jagannathan
Chennai, Feb 14 (IANS) 2010 will see India's insurance regulator coming of age and focusing on how to provide maximum benefits to the average policyholder, industry watchers expect.The Insurance Regulatory ... Read more...
Posted in Business |
Aegon Religare plans Rs.85-cr capital infusion (Lead)
January 16th, 2010 - 6:51 pm ICT by IANS
Chennai Jan 16 (IANS) Private life insurer Aegon Religare has targeted a premium income of Rs.215 crore this fiscal, and plans to infuse around Rs.85 crore as fresh capital by March.
"Post infusion, ... Read more...
Posted in Business |
Aegon Religare to infuse Rs.85 cr fresh capital
January 16th, 2010 - 4:47 pm ICT by IANS
Chennai Jan 16 (IANS) Private life insurer Aegon Religare Life Insurance, which has targeted a premium income of Rs.215 crore this fiscal, will infuse around Rs.85 crore as fresh capital by March.
"Post ... Read more...
Posted in Business |
Future Generali Life to infuse Rs.150 crore additional capital
January 12th, 2010 - 9:51 pm ICT by IANS
Chennai/Kolkata, Jan 12 (IANS) Private life insurer Future Generali Life Insurance, which has an equity base of Rs.667 crore, plans to infuse another Rs.150 crore by March and partner with a sister ... Read more...
Posted in Business |
Regulator’s report on valuation of insurance firms next month
April 9th, 2009 - 10:43 pm ICT by IANS
Kolkata, April 9 (IANS) The country's insurance regulator will introduce fresh guidelines for valuation of insurance companies, a top official said here Thursday.
"A committee of actuaries headed by me is currently working ... Read more...
Posted in Business |
Tax department to be consulted before changing insurance Form I
March 13th, 2009 - 4:29 pm ICT by IANS
By Venkatachari Jagannathan
Chennai, March 13 (IANS) India's insurance regulator will seek the opinion of the Central Board of Direct Taxes (CBDT) before changing the format of the valuation balance sheet, or Form ... Read more...
Posted in Business |
Insurance regulator plans steps to check malpractices
March 11th, 2009 - 12:15 pm ICT by IANS
By Venkatachari Jagannathan
Chennai, March 11 (IANS) India's insurance regulator now appears to be following the corporate sector's credo - tough times are the right time to take difficult decisions.The Insurance Regulatory and ... Read more...
Posted in Business |
LIC policyholders likely to see their bonuses diminish
January 25th, 2009 - 11:19 am ICT by IANS
Chennai, Jan 25 (IANS) Life Insurance Corp of India (LIC) policyholders have to brace up for a cut in bonuses as the insurer's surplus could take a hit of around Rs.80 billion ... Read more...
Posted in Politics |
Canara HSBC Life charts new path to quick profits
September 12th, 2008 - 5:45 pm ICT by IANS
Chennai, Sep 12 (IANS) Upbeat after earning Rs.374 million in just three months from only two insurance products with average premium of Rs.111,144 per policy, private life insurer Canara HSBC Oriental Bank ... Read more...
Posted in Uncategorized |
Brit student ditches PS100k a-year job to become a plasterer!
August 7th, 2008 - 7:12 pm ICT by ANI
London, Aug 7 (ANI): A Brit student has shunned a 100,000 pounds-a-year job offer - so she could train as a plasterer.
Gemma McCoyd, recently graduated with a first-class masters degree in ... Read more...
Posted in Life Style |
Cambridges poorest funded college tops degree table
July 28th, 2008 - 2:00 pm ICT by ANI
London, July 28 (ANI): Cambridge Universitys poorest-funded college Selwyn -- has topped the colleges'' degree results.
According to The Independent, the college, which is celebrating its 125th anniversary this year, has moved ... Read more...
Posted in National |
New challenges for state-run postal insurance
May 20th, 2008 - 12:34 pm ICT by admin
By Venkatachari Jagannathan
Chennai, May 20 (IANS) The move to turn the 124-year-old Postal Life Insurance Directorate of the state-run India Post into a separate corporate entity throws up several challenges, both ... Read more...
Posted in Business |