Life Insurance

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E-insurance mandatory in life insurance

Electronic insurance will become mandatory for annual premium equal to or above Rs 10,000 (single/annual premium) in life insurance policies. Insurance Regulatory and Development Authority of India (Irdai) in its Issuance of e-Insurance Policies Regulations, 2016, said these norms would come into force from October 1.

Here, electronic insurance policy will mean a policy document which […]

By |June 22nd, 2016|e-insurance, IRDA, Life Insurance|0 Comments

HDFC Life and Max Life to merge

Max Financial Services and Max Life have entered into an agreement for a merger with HDFC Life. In a statement to the stock exchanges, Max Financial Services and Housing Development Finance Corporation (HDFC) said that their respective boards have approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a […]

By |June 18th, 2016|Life Insurance|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

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

Swiss Re finds big gaps in insurance coverage

September 22, 2015

Global reinsurer Swiss Re has found big gaps in insurance coverage (pure protection) in Indian households. The mortality protection gap report for Asia Pacific by Swiss Re has found that the gap in India was $8,555 billion in 2014.

Clarence Wong, head of economic research and consulting, Asia Pacific, Swiss Re, said while there […]

Indian Companies are under-insured

September 2, 2015

India Inc is inadequately covered for business-related risks. A survey conducted by ICICI Lombard said that revealed that despite being aware, corporations have taken insurance coverage for only a few risks. Group medical insurance and group accidental insurance is the most common cover.

The study, spread across 292 companies spanned technology, BFSI, steel, cement, pharmaceutical, […]

Modi’s Radical Plan to Remake Welfare in India

May 28, 2015
The government says it’s taking “incremental” steps toward reform, but the plan to reshape payouts for the poor is nothing short of a revolution.

This week marks the first anniversary of Narendra Modi’s right-of-center government in India. He promised thorough economic reform, and many people inside and outside India […]

By |May 28th, 2015|Life Insurance|0 Comments
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