General Insurance

/General Insurance

Foreign insurers bet big on their Indian ventures

21 January 2016

Once foreign insurance companies’ fears over management control were allayed, they spent large sums of money to up their stakes.

In February 2015, when the Insurance Laws (Amendment) Act was passed, the cap on foreign ownership of Indian insurers was raised from 26 per cent to 49 per cent. This, it was widely believed, […]

By |January 21st, 2016|General Insurance|0 Comments

PSU general insurers outpace private players in premium collection

18 January 2016

State-owned general insurers led by New India Assurance have outpaced their peers in private sector in premium collection, though marginally, by recording 12 per cent growth in the first nine months of the current fiscal.

All the four state-owned non-life insurers – New India Assurance, Oriental, United and National – mobilised a total premium […]

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

Budget 2016: Government mulling to sell stakes in General Insurance as part of disinvestment plan

13 January 2016

NEW DELHI: The government is working on an ambitious disinvestment agenda for the next fiscal year, and proposals it is considering include selling stakes in state-owned general insurers.

As a first step, government has decided to convert the country’s only reinsurer, General Insurance Corporation of India, into a public limited company.

The Insurance Amendment Act […]

By |January 13th, 2016|General Insurance|0 Comments

Soon, you could buy vehicle insurance through ATMs!

8 January 2016

Soon, it may be possible to buy vehicle insurance through bank ATMs.

The Insurance Regulatory and Development Authority of India (IRDAI) plans to permit insurance companies tie up with banks in this regard, its Executive Director Sriram Taranikanti told BusinessLine.

To begin with, the mandatory motor third-party insurance will be made available through ATMs.

“There are […]

By |January 8th, 2016|General Insurance, IRDA|0 Comments

2016 expected to be exciting year for General Insurance: MS Sreedhar, Royal Sundaram

5 January 2016

Health insurance segment is expected to stay robust on account of rising healthcare cost, inflation and improved awareness among the consumers. The year will also witness huge inflows of capital into the country, with large global general insurance companies expected to increase their stakes to 49% as permitted by the Insurance Act.

“2015 was […]

By |January 5th, 2016|General Insurance, Health Insurance, Life Insurance|0 Comments

Insurance bill will help higher FDI inflow in joint ventures; nearly Rs 6,000 crore in 2016 eyed

5 January 2016

Soon after the Insurance Law took effect, foreign investors started ploughing capital into their Indian joint ventures, raising their equity holdings.

The long pending demand of insurance players for raising the Foreign Direct Investment (FDI) cap to 49% was fulfilled this year leading to greater flow of foreign funds into India’s private joint ventures […]

By |January 5th, 2016|General Insurance, Health Insurance, IRDA, Life Insurance|0 Comments

India to launch new crop damage insurance scheme

26 December 2015

India will launch a new farm crop insurance scheme early next year and use drones and other technologies to assess crop damage, the agriculture minister said on Wednesday, in what could be Prime Minister Narendra Modi’s first major move to address rural hardship.

The impact of unseasonal rains and two straight years of drought […]

By |December 26th, 2015|General Insurance|0 Comments

General Insurance Penetration in India Down to 0.70% in FY15

26 December 2015

Penetration of general insurance in India has come down to 0.70 per cent in 2014-15 from 0.80 per cent in the previous fiscal year despite an increase in per capita premium during the same period, data from the General Insurance Council showed.

Industry has blamed the decline on slow economic growth during the period, […]

By |December 26th, 2015|General Insurance|0 Comments

Life insurance premium income up 9% in April-November

18 December 2015

MUMBAI: The life insurance industry reported 9% increase in overall annual premium equivalent in April-November, mainly due to volatile market conditions.

The growth by supported by good show by large private sector companies. In the period, overall APE- a measure to normalise policy premium into the equivalent of regular annual premium- including individual and […]

By |December 18th, 2015|General Insurance, Life Insurance|0 Comments

Property and catastrophe insurance premiums likely to shoot up in 2016

16 December 2015

Rising incidents of natural catastrophes, such as cyclones and floods, could lead to a jump in property and catastrophe insurance premiums in the next calendar year, say industry experts.

According to industry estimates, insurers are likely to face losses of around ₹2,500 crore from the recent Chennai floods.

Incidentally, in 2014, India witnessed the world’s […]

By |December 17th, 2015|General Insurance|0 Comments
Visit Our Linkedin Page