life insurer

United India to expand micro-offices, agency channel


September 18th, 2012 - 1:44 pm ICT by IANS
Chennai, Sep 18 (IANS) United India Insurance Company plans to hire 21,000 agents and open 200 one-man offices in smaller cities and towns this fiscal to reach a gross premium ... Read more...

Posted in Business |

GIC having a relook at obligatory reinsurance contracts


August 17th, 2012 - 4:00 pm ICT by IANS
Chennai, Aug 17 (IANS) Stung by a Rs.2,469 crore net loss last fiscal, national reinsurer General Insurannce Corporation of India (GIC) is re-assessing its domestic obligatory reinsurance contracts, said a ... Read more...

Posted in Business |

Reliance Cap concludes stake sale to Nippon Life for $290 mn


August 17th, 2012 - 1:41 pm ICT by IANS
Mumbai, Aug 17 (IANS) Reliance Capital, a part of the Anil Ambani Group, Friday said it has concluded its 26-percent stake sale to Japan's Nippon Life for $290 million, pushing ... Read more...

Posted in Business |

HDFC Standard Life sells 4,000 Smart Woman policies


July 24th, 2012 - 6:17 pm ICT by IANS
Chennai, July 24 (IANS) Private life insurer HDFC Standard Life Insurance Company Ltd has sold around 4,000 Smart Woman policies targeted at women since its launch last month, said a ... Read more...

Posted in Business |

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...

Posted in Business |

Reliance Capital gets regulator’s nod to sell stakes to Nippon Life


June 13th, 2012 - 8:49 pm ICT by IANS
Mumbai, June 13 (IANS) Reliance Capital Wednesday said it has got market regulator Security and Exchange Board of India's approval to sell 26 percent stake in its mutual fund business, ... Read more...

Posted in Business |

Nippon’s pact for 26-percent stake in Reliance asset firm


March 22nd, 2012 - 7:57 pm ICT by IANS
Mumbai, March 22 (IANS) Nippon Life Insurance Company Thursday signed final agreements with Anil Ambani-led Reliance Capital to acquire a 26-percent stake in its asset management company for $290 million."The ... Read more...

Posted in Business |

HDFC Standard Life to consolidate gains of direct sales force


March 8th, 2012 - 3:01 pm ICT by IANS
Chennai, March 8 (IANS) Private life insurer HDFC Standard Life Insurance Company Ltd will consolidate the gains of its direct sales force and bring in better efficiencies next fiscal before ... Read more...

Posted in Business |

AIG reports fourth quarter profits


February 24th, 2012 - 2:10 pm ICT by IANS
New York, Feb 24 (IANS) American International Group (AIG) has reported a net income of $19.8 billion in the fourth quarter of 2011, gaining about 77 percent year-on-year thanks to ... Read more...

Posted in Business |

Nippon Life to invest $290 mn in Reliance Capital arm (Lead)


January 19th, 2012 - 4:24 pm ICT by IANS
Mumbai, Jan 19 (IANS) Anil Ambani-led Reliance Capital Thursday said Japan's largest private life insurer Nippon Life will acquire a 26 percent stake in the group's asset management company for ... Read more...

Posted in Business |

Parliament okays LIC amendment bill


December 14th, 2011 - 8:46 pm ICT by IANS
New Delhi, Dec 14 (IANS) Parliament Wednesday passed the Life Insurance Corporation (Amendment) Bill that seeks to increase the company's paid-up capital to Rs.100 crore from the existing Rs.5 crore ... Read more...

Posted in Business |

New head for insurer’s lobby


November 14th, 2011 - 9:44 pm ICT by IANS
Chennai, Nov 14 (IANS) Oriental Insurance Company Ltd's general manager A.K. Bhandari Monday took over as the new chief executive of public sector non-life insurer's lobby General Insurers' (Public Sector) ... Read more...

Posted in Business |

United India Insurance targets Rs.8,000 crore premium


November 10th, 2011 - 7:06 pm ICT by IANS
Chennai, Nov 10 (IANS) Logging an average business growth of 27 percent this fiscal, public sector non-life insurer United India Insurance Company Ltd Thursday said it is targeting a gross ... 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 |

Reliance Life concludes 26 percent stake sale to Nippon for $680mn


October 9th, 2011 - 2:44 pm ICT by IANS
Mumbai, Oct 9 (IANS) Reliance Capital Sunday said it had concluded a 26 percent stake sale in its life insurance arm to Japan's Nippon Life for $680 million (Rs.3,062 crore), ... Read more...

Posted in Business |

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...

Posted in Business |

Cambodia establishes first life insurance firm


August 14th, 2011 - 12:42 pm ICT by IANS
Phnom Penh, Aug 14 (IANS) The Cambodian government has joined hands with four foreign companies to establish the country's first ever life insurance firm.Currently, Cambodia has six insurance companies and ... Read more...

Posted in Business |

PNB to finalise life insurance joint venture


July 7th, 2011 - 12:27 am ICT by IANS
Chennai, July 6 (IANS) Public sector Punjab National Bank (PNB) is likely to firm up its life insurance foray by this September, said a top official here Wednesday."We are ... Read more...

Posted in Business |

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 |

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 |

United India targets Rs.8,000 crore premium income


May 3rd, 2011 - 9:42 pm ICT by IANS
Chennai, May 3 (IANS) Government-owned non-life insurer United India Insurance Company Ltd. is targeting gross premium of around Rs.8,000 crore for the current fiscal, up from Rs.6,376.66 crore the company ... Read more...

Posted in Business |

Reliance Life gets Nippon on board for $680 million


March 14th, 2011 - 1:22 pm ICT by IANS
Mumbai, March 14 (IANS) In the largest such deal in Indian insurance space, the Reliance Anil Dhirubhai Ambani Group Monday said it has roped in Nippon, the sixth largest in ... Read more...

Posted in Uncategorized |

Indian insurers taking stock of Japanese tsunami


March 11th, 2011 - 9:48 pm ICT by IANS
Chennai, March 11 (IANS) Indian insurers - New India Assurance Company Ltd and General Insurance Corporation of India (GIC Re) - are taking stock of their risk exposure in Japan ... Read more...

Posted in Business |

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...

Posted in Uncategorized |

Now insurance on funeral expenses, job losses


February 13th, 2011 - 5:18 pm ICT by IANS
By Venkatachari Jagannathan Chennai, Feb 13 (IANS) If you fret that your finances may dry up if handed the pink slip or how your funeral will be funded, Bharti Axa Life Insurance Company ... 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 |

The age most prone to accidental death is 40: Oz study


January 6th, 2011 - 4:31 pm ICT by ANI
Sydney, Jan 6 (ANI): An Australian study has suggested that the age most prone to accidental death in humans is 40.The findings in the survey, by a life insurer, were based on ... Read more...

Posted in Health Science |

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 |

Reshuffle in Bajaj Allianz Life Insurance


December 13th, 2010 - 10:45 pm ICT by IANS
Chennai, Dec 13 (IANS) Top level changes have been announced in the Pune-based life insurer Bajaj Allianz Life Insurance Company. The changes will come into effect from February 2011.The company is a ... 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 |

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...

Posted in Business |

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...

Posted in Business |

Star Union Dai-ichi to target SMEs for group insurance


September 14th, 2010 - 2:36 pm ICT by IANS
Chennai, Sep 14 (IANS) Star Union Dai-ichi Life Insurance Company is targeting small and medium enterprises (SME) which are clients of its two promoter banks- Bank of India Union and Bank of ... Read more...

Posted in Business |

More than 250 ULIPs sucked out of the market


September 2nd, 2010 - 10:07 pm ICT by IANS
Chennai, Sep 2 (IANS) The kicking in of new norms for unit linked insurance policies (ULIP) issued by Insurance Regulatory and Development Authority (IRDA) Wednesday has sucked out around 260 products sold ... Read more...

Posted in Business |

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