CRI Team

/CRI Team

About CRI Team

This author has not yet filled in any details.
So far has created 91 blog entries.

India to gain from liberalisation in insurance: John Nelson, Lloyd

18 Febuary 2016

The country stands above the rest of the world with its higher GDP rate, but there is a gap between the government’s actions and the follow-up by the bureaucracy that can be frustrating, says Lloyd’s chief John Nelson in an interview with ET.

There is currently a lot of global turmoil largely related to […]

By |February 18th, 2016|General Insurance|0 Comments

2016 should be a point of inflection for the health insurance industry

10 Febuary 2016

The health insurance industry grew at about 16% in 2015, which is more than twice the rate at which India’s gross domestic product (GDP) is growing. The industry has seen year-on-year growth of more than 27% in direct premium collections. These numbers indicate that the foundation has been laid to make 2016 a […]

By |February 10th, 2016|Health Insurance|0 Comments

Private insurers may reduce exposure to non-retail motor insurance

9 Febuary 2016

Insurers’ claim ratios have even exceeded 150 per cent in certain periods in this space meaning that the claim amount exceeded the premium collected.

Private general insurers are looking to reduce their exposure to commercial vehicle motor insurance, owing to high claims in the segment.

Insurers’ claim ratios have even exceeded 150 per cent in […]

By |February 9th, 2016|General Insurance|0 Comments

A.M. Best Affirms Ratings of General Insurance Corporation of India

9 Febuary 2016

HONG KONG–(BUSINESS WIRE)–A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of General Insurance Corporation of India (GIC Re) (India). The outlook for both ratings is stable.

The ratings reflect GIC Re’s strong risk-adjusted capitalization and business profile in its domestic market.

Favorable capital growth has […]

By |February 9th, 2016|General Insurance|0 Comments

Underwriting losses for general insurers rose 33% in FY15: IRDAI

9 Febuary 2016

Underwriting losses for general insurers jumped 33 per cent to ₹10,127 crore in 2014-15 from ₹7,641 crore in the previous year, according to Insurance Regulatory and Development Authority of India’s annual report.

Underwriting income is the difference between premiums collected on insurance policies by the insurer, and expenses incurred and claims paid out.
‘Pricing not […]

By |February 9th, 2016|IRDA|0 Comments

New India Assurance reports profit of Rs 747 cr for April-December period

3 Febuary 2016

State-owned general insurance company New India Assurance, the largest general insurer posted a profit after tax of Rs 747 crores for the nine months period ended December 31, 2015. The profit before tax stood at Rs 885 crore.

The company recorded a global premium of Rs 13,219 crore, recording a growth of 14.42 per […]

By |February 3rd, 2016|General Insurance|0 Comments

Simplify product distribution, IRDAI chief tells insurers

3 Febuary 2016

The IRDAI chief expects catastrophe insurance premiums to go up after the massive losses insurers faced in the Chennai floods recently

The regulator has asked insurers to simplify the way insurance products are distributed.

“Insurers can bring in simplified distribution within the existing framework itself,” said TS Vijayan, Chairman, Insurance Regulatory and Development […]

By |February 3rd, 2016|IRDA|0 Comments

SBI Life Insurance eyes 30-35% growth over next 3 years

1 Febuary 2016

SBI Life Insurance Company is looking at an overall growth of 30-35% for the next two-three years on the back of growing agency and bancassurance distribution segments.

SBI Life Insurance Company is looking at an overall growth of 30-35% for the next two-three years on the back of growing agency and bancassurance distribution segments.

The […]

By |February 1st, 2016|General Insurance|0 Comments

IRDA’s new reinsurance guidelines favour public sector firm GIC Re

1 Febuary 2016

The Insurance Regulatory and Development Authority (IRDA) has revised its regulations for the reinsurers, giving preference to public sector reinsurer GIC Re in the domestic insurance sector.

“Every Indian insurer has to offer its reinsurance business to Indian reinsurer and then to other reinsurers like foreign reinsures which are having branches in India, Lloyd’s […]

By |February 1st, 2016|General Insurance|0 Comments

Edelweiss Tokio receives Irdai approval to raise foreign stake

30 January 2016

Private life insurer Edelweiss Tokio Life Insurance has received approval from the Insurance Regulatory and Development Authority of India to increase Tokio Marine’s stake to 49 per cent in the joint venture. This will be a primary investment by Tokio Marine in the joint venture and will lead to a FDI of Rs […]

By |January 30th, 2016|General Insurance, IRDA|0 Comments
Visit Our Linkedin Page