general insurance company

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 |

Chola MS targets Rs.2,500 crore premium by 2014-15


September 3rd, 2012 - 9:11 pm ICT by IANS
Chennai, Sep 1 (IANS) City-based Cholamandalam MS General Insurance Company (Chola MS) is targeting a premium of Rs.2,500 crore by fiscal 2014-15, a top company official said Monday.To achieve this, ... Read more...

Posted in Business |

Bajaj Allianz to launch gender-based pricing of health policy


August 31st, 2012 - 12:12 am ICT by IANS
Chennai, Aug 30 (IANS) With studies showing positive risk profile of women for non-life insurers, the Pune-based Bajaj Allianz General Insurance Company Ltd. plans to introduce gender based pricing of ... Read more...

Posted in Business |

Vehicle insurance via cellphone launched


August 27th, 2012 - 10:15 pm ICT by IANS
Chennai, Aug 27 (IANS) City-based Cholamandalam M.S. General Insurance Company Ltd. Monday announced the launch of 'Policy on the Go' for issuing vehicle insurance policies.The company said 'Policy on the ... Read more...

Posted in Sci-Tech |

Tube Investments of India net down Rs.11.59 crore


August 6th, 2012 - 8:17 pm ICT by IANS
Chennai, Aug 6 (IANS) City-based multi-product company Tube Investments Monday announced a Rs.11.59 crore fall in net profit in the first quarter of the current fiscal as against corresponding period ... Read more...

Posted in Business |

Insurance regulator slaps Rs.1.5 million fine on IndusInd Bank


July 6th, 2012 - 1:02 am ICT by IANS
Chennai, July 5 (IANS) The Insurance Regulatory and Development Authority (IRDA) Thursday slapped a fine of Rs.1.5 million on private IndusInd Bank for violation of corporate agency regulations.IndusInd Bank is ... Read more...

Posted in Business |

Tube Investments logs 37 percent net profit growth


April 30th, 2012 - 9:31 pm ICT by IANS
Chennai, April 30 (IANS) City-based multi-product company Tube Investments of India Ltd. (TII) closed last fiscal with 37 percent growth in its consolidated net profit, and the company's Board of ... Read more...

Posted in Business |

Damage by cyclone Thane to lower general insurers’ profits


January 3rd, 2012 - 6:14 pm ICT by IANS
Chennai, Jan 3 (IANS) Insurance claims after Cyclone Thane crossed Cuddalore on the Tamil Nadu coast last week leaving a trail of death and destruction could bring down profits of ... Read more...

Posted in Business |

Rakesh Jain to head Reliance General Insurance


October 21st, 2011 - 3:00 pm ICT by IANS
Mumbai, Oct 21 (IANS) The board of directors of private non-life insurer Reliance General Insurance Company Friday announced the appointment of Rakesh Jain as its new CEO and executive director.The ... Read more...

Posted in Business |

Naming of RIL’s insurance venture will be interesting


June 11th, 2011 - 2:48 pm ICT by IANS
Chennai, June 11 (IANS) With Reliance Industries buying out Bharti Enterprises' 74 percent stakes in two insurance joint ventures -- Bharti Axa Life Insurance and Bharti Axa General Insurance, the ... Read more...

Posted in Business |

Chola MS General targets Rs.1,400 crore premium in 2011-12


June 2nd, 2011 - 8:39 pm ICT by IANS
Chennai, June 2 (IANS) City based non-life insurer Cholamandalam MS General Insurance Company Ltd. is targeting a gross premium income of around Rs.1,400 crore this fiscal, a senior company official ... Read more...

Posted in Business |

Pranab calls for private-public partnership in insurance


February 6th, 2011 - 12:01 am ICT by IANS
Ragunathganj (West Bengal), Feb 5 (IANS) Union Finance Minister Pranab Mukherjee Saturday advocated public-private partnership in the insurance sector to bring more people under its cover."In our country, the total number ... Read more...

Posted in Business |

Expert ‘actuaries’ who assess insurance risk getting younger


December 28th, 2010 - 1:01 pm ICT by IANS
By V. Jagannathan Chennai, Dec 28 (IANS) Once considered the exclusive preserve of venerable middle-aged executives, the office actuaries -- experts who scientifically review the risks in the life and non-life insurance business ... Read more...

Posted in Business |

Bharti Axa hopeful of signing a bancassurance deal in 2011


November 30th, 2010 - 7:08 pm ICT by IANS
Chennai, Nov 30 (IANS) The Bangalore based private non-life insurer Bharti Axa General Insurance Company Ltd is planning to increase its presence in tier II and III cities next year and also ... Read more...

Posted in Business |

Larsen and Toubro planning Rs.2,000-crore PE fund


October 31st, 2010 - 2:27 pm ICT by IANS
By V. Jagannathan Chennai, Oct 31 (IANS) Engineering and construction group Larsen and Toubro (L&T) is planning to launch a Rs.500-2,000-crore private equity fund as part of a strategy to become a financial ... Read more...

Posted in Business |

IRDA fines two Bharti Axa insurance companies


August 27th, 2010 - 12:15 am ICT by IANS
Chennai, Aug 26 (IANS) The Insurance Regulatory and Development Authority (IRDA) Thursday fined the life and non-life insurance companies promoted by Bharti Axa combine for violation licensing norms after changes in the ... Read more...

Posted in Business |

ADAG takes a step forward to snap up Royal Sundaram


July 14th, 2010 - 6:40 pm ICT by IANS
Chennai, July 14 (IANS) The Reliance Anil Dhirubhai Ambani Group (ADAG) is planning to snap up the city-based non-life insurer, Royal Sundaram Alliance Insurance Company, according to sources close to the development. The ... Read more...

Posted in Business |

Shriram General posts underwriting profit


June 16th, 2010 - 9:43 pm ICT by IANS
Chennai, June 16 (IANS) At a time when non-life insurers say that motor insurance is a bleeding portfolio, Shriram General Insurance Company, which earns nearly 98 percent of its premium from selling ... Read more...

Posted in Business |

UK insurance chief labels Obama ‘anti-British’ for attack on British Petroleum


June 11th, 2010 - 1:00 pm ICT by ANI
London, June 11 (ANI): The chairman of British general insurance company RSA, John Napier has labelled US President Barack Obama anti-British for his attack on British Petroleum (BP).In an open letter, ... Read more...

Posted in World |

Mangalore air crash unlikely to hit Reliance-led insurers


May 22nd, 2010 - 5:15 pm ICT by IANS
By Venkatachari Jagannathan Chennai, May 22 (IANS) The Reliance General Insurance Company-led consortium, which insured Air India's fleet including the Boeing 737 aircraft that crashed Saturday in Mangalore, may not be hit ... Read more...

Posted in Business |

Murugappa group not to exit insurance business


May 6th, 2010 - 9:56 pm ICT by IANS
Chennai, May 6 (IANS) City-based Murugappa group has no plans to exit non-life insurance business transacted by Chola MS General Insurance Company, a top group official said Thursday. "We will continue with the ... Read more...

Posted in Business |

South Indian Bank offers customers health insurance


March 17th, 2010 - 7:53 pm ICT by IANS
Trissur (Kerala), March 17 (IANS) The South Indian Bank (SIB) Wednesday offered an insurance policy providing comprehensive health cover to its 3.50 million current and savings account holders across the country. Launched ... Read more...

Posted in Business |

Man arrested for duping jobless youths


February 3rd, 2010 - 9:41 pm ICT by IANS
Ghaziabad, Feb 3 (IANS) The Ghaziabad police Wednesday arrested a man for allegedly duping unemployed youths of money in lieu of providing them jobs. The police said Pravin Kumar Mishra alias Kailash would ... Read more...

Posted in Uncategorized |

Bharti Axa General resets its business focus on villages


October 8th, 2009 - 9:23 pm ICT by IANS
Chennai, Oct 8 (IANS) Private non-life insurer Bharti Axa General Insurance Company Ltd has decided to focus on personal lines of business, targeting people in rural and semi-urban areas, instead of its ... Read more...

Posted in Business |

Aviation insurance to hit airlines in the pockets


September 6th, 2009 - 5:32 pm ICT by IANS
By Venkatachari Jagannathan Chennai, Sep 6 (IANS) A flurry of plane crashes across the world this year will find its echo in the domestic aviation insurance premium rates in the form of a ... Read more...

Posted in Business |

Larsen and Toubro plans to start a bank


August 20th, 2009 - 8:08 pm ICT by IANS
Chennai, Aug 20 (IANS) The financial services arm of construction and engineering major Larsen and Toubro (L&T) is planning to set up a commercial bank as part of its efforts to have ... Read more...

Posted in Business |

UCO Bank to enter general insurance business


July 3rd, 2009 - 9:09 pm ICT by IANS
Kolkata, July 3 (IANS) State-run UCO Bank will invest Rs.45 crore in its proposed general insurance company, a top bank official said here Friday. "We will pick up a 30-percent stake in the ... Read more...

Posted in Business |

James Cameron sued over power outage


June 2nd, 2009 - 6:00 pm ICT by ANI
London, Jun 2 (ANI): Canadian director James Cameron is said to be facing a lawsuit after one of his employees crashed a car into an electricity pole, causing a three-day power outage.Cameron, ... Read more...

Posted in Entertainment |

Consumer forum makes ICICI Lombard pay its dues


January 2nd, 2009 - 2:33 pm ICT by IANS
Chandigarh, Jan 2 (IANS) ICICI Lombard general insurance company here has been asked by a consumer forum to pay Rs.263,750 to a customer who had taken a policy for his vehicle that ... Read more...

Posted in Business |

Damage to terrorist-attacked hotels covered


December 2nd, 2008 - 12:55 pm ICT by IANS
Chennai, Dec 2 (IANS) Damage to insured property due to actions of security personnel in an anti-terrorist operation is covered under the terrorism risk cover of fire insurance policies despite existence ... Read more...

Posted in Sci-Tech |

State Bank’s non-life entry to hit New India hard


November 28th, 2008 - 12:41 pm ICT by IANS
Chennai, Nov 28 (IANS) Once the state-owned State Bank of India (SBI), India's largest lender, enters the non-life general insurance business following its recent tie-up with Insurance Australia Group Ltd. (IAG), the ... Read more...

Posted in Business |

Health insurance cover for poor spreads to 11 states


October 3rd, 2008 - 11:34 am ICT by IANS
New Delhi, Oct 3 (IANS) A national health insurance programme, under which people below the poverty line (BPL) pay only Rs.30 and become entitled to treatment of up to Rs.30,000, has just ... Read more...

Posted in World |

Tata AIG General teams up with cleartrip.com to offer travel insurance


August 27th, 2008 - 4:13 pm ICT by ANI
Mumbai, Aug 27 (ANI/Business Wire India): Cleartrip, India''s favorite online travel portal has teamed up with Tata AIG General Insurance Company Ltd. (Tata AIG General) to offer domestic travel insurance solutions ... Read more...

Posted in Life Style |

Madhya Pradesh offers insurance to schoolchildren


August 24th, 2008 - 10:18 pm ICT by IANS
Bhopal, Aug 24 (IANS) The Madhya Pradesh government has approved a scheme for insuring students of government schools in the state.“The period of insurance cover has been fixed from Aug 21, 2008 ... Read more...

Posted in Uncategorized |

Shriram General to push unique business plan


July 16th, 2008 - 6:54 pm ICT by IANS
Chennai, July 16 (IANS) At a time when the Indian general insurers are chasing top line growth focusing on the corporate segment and at the retail end of health insurance, the Jaipur-headquartered ... Read more...

Posted in Business |

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