Recurring natural calamities to escalate insurance premium
The growing concerns over the increasing natural calamities in the east coast of India is leading the general insurance players to look at increasing premium rates for properties, commercial establishments, factories and others which are located in the vulnerable areas, according to industry sources. In the last two or […]
If you are member of a housing society or a club, you can buy insurance for dental treatment. Ocare, an independent Insurance Process as a Service (IPAAS) platform, has launched a group dental insurance scheme, assuring a sum of Rs 25,000 per annum per person at Rs 1,699 annual premium. Since there is no family […]
SBI General Insurance wins accolades at Indian Insurance Awards
SBI General Insurance Company Ltd, one of India’s fastest growing general insurance companies, won two awards in the category of Medium/ Small companies in the General Insurance space at the recently concluded ‘The Indian Insurance Awards, 2016.’
The Indian Insurance Awards 2016- Fintelekt have been conceptualised to honour […]
At least five foreign banks, two Indian insurance companies and many other financial institutions have approached the state-promoted Gujarat International Fin-Tec City (GIFT) City to set up shop in the country’s first International Financial Services Centre (IFSC) being established here.
“Two of these foreign banks are in an advanced stage of discussions. Once they take a […]
The fourth largest private sector general insurer HDFC ERGO on Friday said it will acquire L&T General Insurance in an all-cash deal for Rs 551 crore and will retain all the employees of the latter even a sit may go for branch rationalisation post acquisition.
Once the deal goes through, it would be the first ever […]
BMW India Financial Services has partnered with ICICI Lombard General Insurance to offer premium motor insurance solutions for BMW customers.
Dr. Stefan David Schlipf, MD and CEO, BMW India Financial Services said, “At BMW India Financial Services, we offer end-to-end automotive financial solutions which are significantly valuable to the premium clientele who require exclusive and flexible […]
12 May 2016
Private sector companies saw premium income of Rs39,701.12 crore in the last financial year against Rs35,090.06 crore in FY15.
The general insurance industry registered 13.8% growth in premium income for the last financial year. However, at 13.1%, the growth for private sector general insurance companies was higher than that for public sector insurance companies, […]
29 Febuary 2016
Providing succour to two sectoral watchdogs, the government will exempt “regulatory services” provided by Sebi and Irda from the service tax ambit.
Providing succour to two sectoral watchdogs, the government will exempt “regulatory services” provided by Sebi and Irda from the service tax ambit.
Besides, exemption would be extended to the services provided by the […]
29 Febuary 2016
Transgender applicants can now opt fro the ‘third gender’ category. Policy buyers until now had only two options ‘male’ and ‘female’
The Life Insurance Corporation of India (LIC) recently announced the decision to introduce the third gender option in its proposal forms. This is in line with the Supreme Court verdict in 2014, according […]
22 Febuary 2016
Government is considering a proposal to permit 49 per cent FDI through automatic approval route in the insurance sector with a view to attracting more overseas inflows.
Currently, FDI up to 26 per cent is permitted through automatic approval route. For FDI up to 49 per cent, the approval of Foreign Investment Promotion Board […]
