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.
ICICI Lombard General Insurance Q3 profit rises 23% to Rs 294 crore
Total income rose to Rs 2,798.90 crore as against Rs 2,416.39 crore in th...
‘Life insurers’ raising exposure to guaranteed return plans a long-term risk’
The trend of offering guaranteed products has been visible ac...
IRDAI proposes to standardise, simplify policy wordings of health indemnity insurance policies
The objective of the guidelines on 'Standardization of General Clauses in Health Insurance Policy Contracts' is to standardise the common general clauses incorporated in indemnity based health insurance policies.
How the new Social Security Code will benefit employees
The proposed Social Security Code integrates eight laws, covering provisions relating to Employees' Provident Fund (EPF), Employees State In...
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.
Banks, telcos, insurers may be exempted from GST e-invoices
Banks, airlines, insurance companies, armed forces and telecom service providers are likely to be exempted from mandatory issuing of e-invoices under goods and services tax (GST), said people aware of the matter.
Standardised health insurance to help with portability: Tapan Singhel, Bajaj Allianz General Insurance
Liability insurance moving up very fast in times to come, says Singhel
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.
FM may announce second round of capital infusion for non-life insurers in Budget
The government infused Rs 2,500 crore in the three insurers -- National Insurance, Oriental Insurance and United India Insurance -- through first supplementary demands for grants for 2019-20 last month. However, these companies would require additional Rs 10,000-12,000 crore capital dose to meet the prescribed solvency margin, sources said.
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.
Allahabad Bank in talks with Sompo to sell its stake in insurance JV
Allahabad Bank and Indian Bank will be merged from April as part of the mega merger exercise.
Bajaj Allianz General Insurance moves core operations to TCS Bancs on cloud
"With this new cloud platform, we will be able to leverage an array of digital technologies in addition to optimizing our infrastructure for better availability and scalability," Tapan Singhel, Managing Director and CEO, Bajaj Allianz General Insurance, said.
Indian insurance firms build own tech teams as focus turns to data
The insurers have stepped up hiring from premier institutes, including the Indian Institutes of Technology and Indian Statistical Institute. Some are also expected to increase the number of freshers hired to more than a couple of hundred.
How to select the right life insurance policy
Personal accident insurance will cover the loss of income in case an accident leads to temporary disability.
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