insurance regulator

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...

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IRDA plans guidelines to regulate micro-insurance


July 6th, 2012 - 9:53 pm ICT by IANS
Kolkata, July 6 (IANS) India's Insurance Regulatory and Development Authority (IRDA) Friday said it is planning to come out with guidelines for the micro-insurance segment in the country to ensure ... Read more...

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Indian insurers asked to spread wings abroad


July 6th, 2012 - 8:14 pm ICT by IANS
Kolkata, July 6 (IANS) Indian insurers should look overseas and expand their international footprints, the insurance regulator suggested Friday."This is time now when our homegrown insurers should look at overseas ... Read more...

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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...

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HDFC Standard Life COO quits


July 3rd, 2012 - 4:25 pm ICT by IANS
Chennai, July 3 (IANS) Private life insurer HDFC Standard Life Insurance Company Ltd.'s executive director and chief operating officer Paresh Parasnis has put down his papers, said company and industry ... Read more...

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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...

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Firms non-compliant with SEBI norms to face action


May 7th, 2012 - 10:32 pm ICT by IANS
Chennai, May 7 (IANS) Capital market regulator Securities and Exchange Board of India (SEBI) Monday warned of action against companies not complying with its norms on public shareholdings even as ... Read more...

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Magma to roll out housing finance, gold loan business FY13


April 27th, 2012 - 7:43 pm ICT by IANS
Kolkata, April 27 (IANS) Magma Fincorp will roll out housing finance and gold loan businesses this fiscal. The city-base non-banking finance company is also awaiting the insurance regulator's nod to ... Read more...

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IRDA asks general insurers to avoid unhealthy competition


December 16th, 2011 - 5:59 pm ICT by IANS
Kolkata, Dec 16 (IANS) The insurance regulator Friday asked general insurance companies not to indulge in "unhealthy competition" that has led them to incur huge losses."I urge the companies to ... Read more...

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Reliance Life looks to next big steps in ties with Nippon


October 9th, 2011 - 2:33 pm ICT by IANS
Mumbai, Oct 9 (IANS) With the sixth largest insurer in the world acquiring a 26-percent stake in the company, Reliance Life will get Japanese Nippon Life's expertise in areas like ... Read more...

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Insurance regulator fines HDFC Standard Life for claims delay


October 5th, 2011 - 10:50 pm ICT by IANS
Chennai, Oct 5 (IANS) India's insurance regulator Wednesday imposed a fine of Rs.500,000 on Mumbai-based private life insurer HDFC Standard Life Insurance Company Ltd for not having in place effective ... Read more...

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Regulator’s nod for Reliance Capital’s 26 percent stake sale to Nippon


September 14th, 2011 - 2:09 pm ICT by IANS
Mumbai, Sep 14 (IANS) Reliance Capital, part of the Anil Ambani-led Reliance Group, Wednesday said it had received approval from the insurance regulator to sell a 26 percent stake in ... Read more...

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Reliance Life exploring strategic equity partner among banks


July 20th, 2011 - 3:49 pm ICT by IANS
Hong Kong, July 20 (IANS) Reliance Life Insurance Company, India's largest in terms of policies sold, intends to sell strategic equity to a commercial bank and hopes to soon ... Read more...

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Proposed new insurance norms may adversely impact mergers (Lead)


July 3rd, 2011 - 4:24 pm ICT by IANS
Chennai, July 3 (IANS) India's insurance regulator may be attempting to override legal provisions while also seeking to prevent promoters from exiting ventures within 10 years of starting operations, experts ... Read more...

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Proposed new insurance norms may adversely impact mergers


July 3rd, 2011 - 12:45 pm ICT by IANS
Chennai, July 3 (IANS) India's insurance regulator may be attempting to override legal provisions while also seeking to prevent promoters from exiting ventures within 10 years of starting operations, ... Read more...

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Norms soon for calculating embedded value of insurers


June 26th, 2011 - 10:47 pm ICT by IANS
Chennai, June 26 (IANS) India's insurance regulator, the Insurance Regulatory and Development Authority (IRDA), will shortly come out with the norms for calculating the embedded value - the current discounted ... Read more...

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Indian insurers don’t have database for Solvency II: Regulator


June 23rd, 2011 - 7:07 pm ICT by IANS
Kolkata, June 23 (IANS) The Indian insurance industry does not have the statistical database to adopt Solvency II - new rules likely to change the way insurance companies keep aside ... Read more...

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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...

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Insurers to face challenges, but sector to grow: Survey


June 8th, 2011 - 11:43 pm ICT by IANS
Chennai, June 8 (IANS) Low productivity of individual agents, a high policy lapse rate and lack of experienced personnel are among the challenges that private life insurers in India will ... Read more...

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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...

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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...

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Court notice on insurance for AIDS patients


May 12th, 2011 - 12:57 am ICT by IANS
New Delhi, May 11 (IANS) The Delhi High Court Wednesday issued notice to the Insurance Regulatory and Development Authority (IRDA) on a petition to make HIV/AIDS patients eligible for health ... Read more...

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IPO guidelines for insurance firms by month-end: IRDA chief


April 11th, 2011 - 7:50 pm ICT by IANS
New Delhi, April 11 (IANS) The Insurance Regulatory and Development Authority (IRDA) will issue final guidelines governing initial public offerings (IPOs) of insurance companies by the this month end, ... Read more...

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Bharti Axa Life to launch two new products


March 10th, 2011 - 6:29 pm ICT by IANS
Chennai, March 10 (IANS) Private life insurer Bharti Axa Life Insurance will soon launch two new products, one a traditional participating retirement plan and the other a child protection plan, ... Read more...

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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...

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Insurance regulator to meet, brief life insurers on flaws


January 11th, 2011 - 4:49 pm ICT by IANS
Chennai, Jan 11 (IANS) The Indian insurance regulator is planning to start the new year with a path-breaking initiative of calling promoters of private life insurers and having a frank discussion with ... Read more...

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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...

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Insurance fund for road accident victims facing deficit


December 11th, 2010 - 10:10 pm ICT by IANS
Chennai, Dec 11 (IANS) The system of paying third-party liability claims in road accidents out of a common premium pool is likely to continue in the future while the corpus is running ... Read more...

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Are low health premiums viable, asks insurance regulator


December 11th, 2010 - 9:43 pm ICT by IANS
Chennai, Dec 11 (IANS) The Insurance Regulatory and Development Authority (IRDA) Saturday expressed its concern at the low premium charged by some government health insurance schemes and the rampant undercutting of ... Read more...

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Knee-jerk reactions by insurance regulator pose challenge: Experts


November 22nd, 2010 - 9:20 pm ICT by IANS
Mumbai, Nov 22 (IANS) An insurance regulator who is on a learning curve and life insurance chief executives who do not understand the basic tenets of the business are some of the ... Read more...

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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...

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IRDA move will kill variable insurance segment: Industry


October 23rd, 2010 - 2:41 pm ICT by IANS
By V.Jagannathan Chennai, Oct 23 (IANS) The category of variable insurance products (including universal life products) will be killed if the draft norms issued by the Indian insurance regulator is implemented in its ... Read more...

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India Post allowed to be agent for other insurers


October 17th, 2010 - 2:57 pm ICT by IANS
Chennai, Oct 17 (IANS) The Insurance Regulatory and Development Authority (IRDA) has allowed India Post to distribute insurance products as a corporate agent for domestic life, non-life, farm and health insurers.The new ... Read more...

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Reliance Life Insurance launches highest NAV advantage ULIP


October 12th, 2010 - 6:49 pm ICT by IANS
Mumbai, Oct 12 (IANS) Reliance Life Insurance Company (RLIC), part of Reliance Capital promoted by Anil Ambani, Tuesday announced the launch of a new unit linked insurance plan (ULIP).The Reliance Life Insurance ... Read more...

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Aegon Religare Life to expand online product offering


October 7th, 2010 - 9:26 pm ICT by IANS
Chennai, Oct 7 (IANS) Aegon Religare Life Insurance Company has decided to expand its product offering in the online space."We have filed with the insurance regulator a unit linked insurance policy (ULIP) ... Read more...

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