life insurance companies

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 |

Non-life insurers log 17 percent growth in first quarter


July 12th, 2012 - 4:36 pm ICT by IANS
Chennai, July 12 (IANS) The 24 non-life insurance companies logged 17.96 percent business growth during the first quarter of the current fiscal, said industry sources."The industry closed the first quarter ... Read more...

Posted in Business |

Firewalls needed between banks and insurance firms: Survey


March 15th, 2012 - 6:22 pm ICT by IANS
Chennai, March 15 (IANS) The Economic Survey tabled in parliament Thursday voiced concern about the growing linkages between the banking and insurance sectors and said firewalls should be built between ... Read more...

Posted in Business |

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...

Posted in Business |

Government to expand banking, insurance services in northeast


December 10th, 2011 - 8:57 pm ICT by IANS
Kolkata, Dec 10 (IANS) Finance Minister Pranab Mukherjee Saturday said the government will expand the banking and insurance networks in the eastern and northeastern states."Government is keen to expand ... Read more...

Posted in Business |

Experts demand rules for stake dilution in insurance firms


December 5th, 2011 - 8:22 pm ICT by IANS
Chennai, Dec 5 (IANS) The government should come out with rules such as setting a time frame for dilution of excess stake held by promoters of life insurance companies as ... Read more...

Posted in Business |

Highest net asset value cover plans are risky: IRDA chief


September 15th, 2011 - 4:39 pm ICT by IANS
New Delhi, Sep 15 (IANS) Unit-linked life insurance products that promise buyers returns based on highest net asset value (NAV) achieved during the tenure of the policy are "risky" and ... Read more...

Posted in Uncategorized |

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...

Posted in Business |

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...

Posted in Uncategorized |

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...

Posted in Business |

Insurers relieved as Tamil Nadu scraps health scheme


June 10th, 2011 - 4:03 pm ICT by IANS
Chennai, June 10 (IANS) The AIADMK government's decision to scrap the Kalaignar Health Insurance Scheme in Tamil Nadu has come as a blessing in disguise for the participating insurance companies ... Read more...

Posted in Business |

Max New York Life is Pune Warriors India’s official team partner


April 11th, 2011 - 2:00 pm ICT by ANI
New Delhi, Apr.11 (ANI-Business Wire India): Max New York Life Insurance, one of India's leading life insurance companies, has announced its association as principal sponsor and official team partner for the Pune ... Read more...

Posted in Sports |

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 |

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 |

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...

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 |

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 |

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...

Posted in Business |

Merger norms for general insurance firms in a week


December 11th, 2010 - 8:01 pm ICT by IANS
Chennai, Dec 11 (IANS) A decision on the merger proposal of Royal Sundaram Alliance with Reliance General Insurance is likely soon with the industry watchdog set to announce its new norms on ... Read more...

Posted in Business |

SEBI sets disclosure terms for life insurance companies


October 26th, 2010 - 1:52 pm ICT by ANI
Mumbai, Oct 26 (ANI): The Securities and Exchange Board of India (SEBI) has spelt out disclosure norms for the life insurance companies if they sell shares to the public through Initial Public ... Read more...

Posted in Business |

R-Cap targets Rs.50,000 cr infrastructure lending


September 28th, 2010 - 3:57 pm ICT by IANS
Mumbai, Sep 28 (IANS) Reliance Capital (R-Cap), a part of the $10-billion Anil Dhirubhai Ambani Group, Tuesday said it will offer specialised financial services for infrastructure projects with a target of Rs.50,000 ... Read more...

Posted in Business |

Reliance Capital to list insurance arm, enter banking


September 28th, 2010 - 2:41 pm ICT by IANS
Mumbai, Sep 28 (IANS) The Reliance Anil Dhirubhai Group Tuesday said it was looking closely to list its insurance business on stock markets apart from entering the commercial banking industry in the ... Read more...

Posted in Business |

Max New York Life launches two new ULIPs


September 9th, 2010 - 5:10 pm ICT by ANI
New Delhi, Sept. 9 (ANI-Business Wire India): Continuing a tradition of delivering products with superior customer value, Max New York Life Insurance Co. Ltd, one of India's leading life insurance companies announced ... Read more...

Posted in Business |

New ULIP norms will build investor confidence: Pranab


September 1st, 2010 - 8:51 pm ICT by IANS
Mumbai, Sep 1 (IANS) Finance Minister Pranab Mukherjee said the new norms for unit-linked insurance plans (ULIPs) which kicked in Wednesday are aimed at building investor confidence. "Reforms are not static, ... 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 |

Reliance Life Insurance assets cross Rs.15,000 crore


August 23rd, 2010 - 8:25 pm ICT by IANS
Mumbai, Aug 23 (IANS) Reliance Life Insurance Company (RLIC), part of Anil Ambani-led Reliance Capital, Monday said it has crossed the milestone figure of Rs.15,000 crore in assets under management (AUM) and ... Read more...

Posted in Business |

SEBI order on ULIPs a wake-up call for IRDA


April 12th, 2010 - 6:04 pm ICT by IANS
By Venkatachari Jagannathan Chennai, April 12 (IANS) The order of Securities and Exchange Board of India (SEBI) banning 14 life insurers from selling unit-linked insurance products (ULIP) is a wake-up call for the ... Read more...

Posted in Business |

NZ insurance seekers outraged after companies quiz them over sex lives


April 3rd, 2010 - 5:45 pm ICT by ANI
Auckland, Apr. 3 (ANI): People seeking life insurance in New Zealand are outraged after being asked by insurance companies if they have sex with prostitutes.The country's Privacy Commission has raised concerns over ... Read more...

Posted in World |

Wage revision talks Tuesday with insurance unions


December 21st, 2009 - 2:18 pm ICT by IANS
Chennai, Dec 21 (IANS) The General Insurers (Public Sector) Association of India (GIPSA) has called for a new round of talks Tuesday with the unions of four government-owned non-life insurance companies after ... Read more...

Posted in Business |

New India Assurance Co. is headless for over two months


December 20th, 2009 - 7:36 pm ICT by IANS
Chennai, Dec 20 (IANS) Mumbai-based Rs.5,516-crore premium New India Assurance Company Ltd - one of the four government-owned general insurance companies - has remained headless for the past two and a half ... Read more...

Posted in Business |

Birla Sun Life Insurance introduces Super 20 Fund


July 14th, 2009 - 5:12 am ICT by Sampurn Wire
A unique blue-chip fund that invests in fundamentally strong and liquid large-cap stocksBirla Sun Life Insurance (BSLI), one of India's leading life insurance companies and pioneer of Unit Linked Life Insurance plans ... Read more...

Posted in Entertainment |

Life insurers disappointed with budget


July 6th, 2009 - 5:44 pm ICT by IANS
Chennai, July 6 (IANS) The union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday has disappointed the domestic life insurance sector. "There is no major announcement on tax sops. It ... Read more...

Posted in Business |

Max New York Life Insurance launches ‘Healthy Family’ Floater Plan


June 1st, 2009 - 4:22 pm ICT by ANI
New Delhi,June 1 (ANI-Business Wire India): Max New York Life Insurance, one of India's leading life insurance companies, today introduced the 'Lifeline Healthy Family' a health insurance plan, the most comprehensive long ... Read more...

Posted in National |

Life insurers hope for reforms by the new government


May 17th, 2009 - 5:19 pm ICT by IANS
Chennai, May 17 (IANS) A much stronger Congress-led coalition to form the next government bodes well for the life insurance sector clamouring for reforms, says the industry's representative organisation. "Two important amendment bills ... Read more...

Posted in Politics |

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