life insurers

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...

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Non-life insurers need to be prudent in underwriting risks: GIC


August 18th, 2012 - 3:25 pm ICT by IANS
Chennai, Aug 18 (IANS) Indian non-life insurers should be careful while underwriting risks as the non-life insurance market is on a high growth path and needs additional capital to ... Read more...

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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...

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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...

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Non-life insurers post 18 percent growth in May 2012


June 28th, 2012 - 1:22 am ICT by IANS
Chennai, June 27 (IANS) The Indian non-life insurance sector logged an overall premium growth of 18.27 percent in May 2012 as compared to the same period of 2011, as ... 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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It is a status quo budget with routine announcements: Insurance sector (Lead)


March 16th, 2012 - 7:44 pm ICT by IANS
Chennai, March 16 (IANS) The Indian insurance industry is unanimous that the 2012-13 budget presented by Finance Minister Pranab Mukherjee is status quoist and the hike in service tax ... Read more...

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Insurance firms might find draft bancassurance guidelines difficult


January 3rd, 2012 - 10:53 pm ICT by IANS
Kolkata, Jan 3 (IANS) The draft guidelines on bancassurance by the Insurance Regulatory Development Authority (IRDA) may turn out to be difficult for a few insurance companies in the country, ... Read more...

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India’s insurable population over 57 crore


November 29th, 2011 - 9:42 pm ICT by IANS
New Delhi, Nov 29 (IANS) The approximate total number of insurable Indians is over 57 crore, parliament was informed Tuesday."Based on the working population, as per census 2001 data, the ... 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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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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Non-life insurers log 27 percent business growth in May


June 25th, 2011 - 7:45 pm ICT by IANS
Chennai, June 25 (IANS) The Indian non-life insurance sector logged around 27 percent business growth in May 2011 over the corresponding period in 2010, as per the figures released by ... Read more...

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Non-life insurers’ merger norms discriminatory: Experts


June 12th, 2011 - 5:55 pm ICT by IANS
Chennai June 12 (IANS) The merger and amalgamation (M and A) regulations notified by the Insurance Regulatory and Development Authority (IRDA) is discriminatory, inconsistent with the Insurance Act, say industry ... 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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Non-life insurers post 19 percent growth in April


May 31st, 2011 - 7:28 pm ICT by IANS
Chennai, May 31 (IANS) The Indian non-life insurance sector logged a business growth of 19.87 percent last month as compared to the gross premium earned during April 2010.According to the ... Read more...

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Profitability big challenge for Indian insurers: Report


April 11th, 2011 - 7:30 pm ICT by IANS
Chennai, April 11 (IANS) Profitability is the biggest challenge facing companies in the Indian insurance market, which is expected to reach $350-400 billion in premium income by 2020, says a ... Read more...

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Insurance industry to be worth $400 bn by 2020: Report


April 10th, 2011 - 5:01 pm ICT by IANS
New Delhi, April 10 (IANS) India's insurance industry will outpace economic growth and is likely to reach $350-400 billion in terms of premium income by 2020, making it among the ... 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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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...

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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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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...

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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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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...

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‘ULIPs have potential for life insurers despite curbs’


November 22nd, 2010 - 11:09 pm ICT by IANS
Mumbai, Nov 22 (IANS) Unit linked insurance policies (ULIPs) designed and sold under the new norms that came into effect Sep 1 have a great potential for life insurers, said experts participating ... Read more...

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Axa Assistance expanding service portfolio in India


November 19th, 2010 - 9:41 pm ICT by IANS
Chennai, Nov 19 (IANS) Assistance services company Axa Assistance India is hoping to tie up with public sector non-life insurers to act as their healthcare claims processing agency even as it is ... Read more...

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PSU general insurance employees turn lakhpatis with wage hike


November 1st, 2010 - 4:35 pm ICT by IANS
Chennai, Nov 1 (IANS) A majority of nearly 40,000 employees working in four government-run general insurance companies will go home Monday as lakhpatis, getting handsome arrears that range between Rs.100,000 and Rs.500,000 ... 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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IRDA bans universal life products


October 21st, 2010 - 11:09 pm ICT by IANS
Chennai, Oct 21 (IANS) In yet another policy holder-friendly move, the Insurance Regulatory and Development Authority (IRDA) Thursday banned the sale of universal life products from Oct 22, 2010.The universal life product ... Read more...

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Life insurance had a great fall in September


October 21st, 2010 - 10:46 pm ICT by IANS
Chennai, Oct 21 (IANS) The domestic life insurance industry had a great fall in new business in September in the wake of new regulations governing unit-linked insurance policy (ULIP) that kicked in ... 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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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...

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