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IRDAI chief cautions insurers against predatory pricing

"I would like to give a word of caution here. Though your (insurance brokers) share is very high in group health insurance, the loss ratio in group health insurance is also very high. Probably, it is not very sustainable at present," he said at an event organised by Insurance Brokers Association of India.

Of 173 applications, IRDAI selects just 23 for sandbox project

An eight-member evaluation committee headed by IIIT Bangalore director S Sadagopan was in charge of scrutinizing these applications. ET had earlier reported that the rejection rates for these applications would be on the higher side due to the high-risk factor of testing these products on a live audience.

Life insurers may log strong new business

Life insurers such as ICICI Prudential, HDFC Life and SBI Life are set for a quarter of strong new business growth driven by increasing margin gains in protection business, expanding distribution network and robust premium even as some insurers may see increased stress in certain portfolios due to a slowing economy.

Non-life insurers log 12% rise in premium at Rs 15,981 cr in Dec 2019

Of all the insurers, 25 general insurance firms reported a rise of 4 per cent in their combined premium during December at Rs 14,037.51 crore, as against Rs 13,502.48 crore in the year ago period.

Sachin Bansal buys DHFL General Insurance

Flipkart co-founder Sachin Bansal’s bet on the insurance firm is part of his broader ambition in financial services industry.

Insurance intermediaries with majority foreign stake can't repatriate over 75% as dividend: IRDAI

On the quantum of dividend payable, it said: "The dividend payout ratio shall not exceed 75 per cent. Dividend payout ratio shall be calculated as a percentage of 'dividend payable in a year' (excluding dividend tax) to 'profit after tax during the year'.

Offer standard health policies with maximum sum insured Rs 5 lakh: Irdai to insurers

Irdai has issued guidelines on standard individual health insurance, asking insurers to cover basic health needs.

Irdai slaps Rs 2.18 cr fine on Hero Insurance Broking for violating norms

In its order against Hero Insurance Broking India Ltd (HIBIL), Irdai said it received complaints from some general insurance agents association of the apparent conflict of interest in the role of MISPs in selling insurance policies and servicing and repairing motor vehicles under the insurance policies sold by it.

Non-life insurers register 13 per cent rise in November premium to Rs 14,591 crore

Break-up wise, of the total non-life insurers, the 25 general insurers registered an increase of 11 per cent in their premium income at Rs 12,723.61 crore during the month, as against Rs 11,508.67 crore in the year-ago same period, showed the Insurance Regulatory and Development Authority of India (Irdai) data.

Insurance sector in need of positive enablers, say industry leaders

The issues of underpenetration, which at less than 4.5% of the GDP is low compared to advanced economies, stems from problems of outreach rather than a shortage of demand, they said. "Demand is not as much an issue. There is a huge market. The problem is reach," said Vipin Anand, MD Life Insurance Corporation (LIC), while sharing a panel with Vibha Padalkar, MD and CEO, HDFC Life.

CCI approves stake buy in SBI General Insurance by Napean Opportunities, Honey Wheat

CCI approves stake buy in SBI General Insurance by Napean Opportunities, Honey Wheat

The transaction involves acquisition of 16.01 per cent paid-up share capital of SBI General Insurance by Napean Opportunities and 9.99 per cent by Honey Wheat Investment Ltd, the CCI said in two separate statements.

FDI limit in insurance companies may rise to 74%

FDI limit in insurance companies may rise to 74%

The govt may raise the FDI limit in insurance to 74% in the February budget, up from the present 49%.

DHFL bankruptcy: Irdai rules out troubles for two insurance arms; asks insurers to write off exposure

DHFL bankruptcy: Irdai rules out troubles for two insurance arms; asks insurers to write off exposure

DHFL Pramerica Life, launched in 2008, is a joint venture between DHFL Investments, a wholly-owned arm of DHFL, and Prudential International Insurance Holdings of the US, has Rs 4,675 crore assets under management. DHFL General Insurance, on the other hand, is a fully-owned subsidiary of Wadhawan Global Capital, the holding company of the HDFL Group.

Postmen, grameen dak sevaks may soon start selling insurance policies

Postmen, grameen dak sevaks may soon start selling insurance policies

The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said. ln case the authority grants permission, IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, it added.

Banks can’t claim tax relief on FD insurance

Banks can’t claim tax relief on FD insurance

Reversal of credit would lead to an increase in cost by anywhere between Rs 200 to Rs 500 crore for banks.

Aditya Birla Health hopes to continue 78% growth of first half of FY20

Aditya Birla Health hopes to continue 78% growth of first half of FY20

Bathwal said the penetration is still low in individual health insurance in the country. Around 50 crore people have been covered by health insurance of which 36 cr are by Ayushman Bharat scheme of the govt while around 9 cr are covered by corporate health insurance. `` The number of people who have taken individual insurances is only about 4 cr.’’

INSURE STOCKS
NSE
BSE

Company NameLatestChange%ChangeVolume
HDFC Bank1278.15-9.5-0.748459407
ICICI Bank532.05-5.1-0.9518312609
Kotak Mahindra Bank1698.1-3.45-0.22295875
State Bank of India318-5.3-1.6458396326
Axis Bank739.92.60.357678864
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