First year insurance premiums in the life insurance space grew by 33 per cent in value terms in the first three months of FY17, while they registered a marginal growth
In a move that would pinch the pockets of crores of health insurance policyholders, especially the senior citizens, the insurance regulator would soon be allowing insurers to change pricing every year. Till now, insurers could revise the pricing once in a block of three years.
- Jul03By PTI
Regulator Irdai has asked insurance companies to file details of their business in the rural and social sectors, a move aimed at checking if they are fulfilling their obligations in these two areas.
Government has now allowed all the four public sector general insurers to participate in its ambitious farm insurance schemes -- the Pradhan Mantri Fasal Bima Yojana (PMFBY) and unified package insurance scheme -- with potential of over $2.5 billion in premium collection.
A volatile equity market has hurt the profitability of public sector behemoth Life Insurance Corporation of India (LIC), which has reported a 48 per cent fall in profit from sale
Falling growth in new business premium and increasing competition from top bank-promoted life insurance companies would force several insurers to rework their business models or look at mergers to survive.
Whenever protection of gold jewellery and other valuable items comes to mind people think of hiring a bank locker. That’s the safest way to keep your valuables
Claim settlement is the ultimate test for any life insurance company. The credibility of an insurance company lies in offering what it promised without any hassle or delay.
The proposed-two stage merger of private life insurer HDFC Life with Max Life and Max Financial Services will result in automatic listing of HDFC Life and create a merged entity with assets under management of over Rs one lakh crore.
The persistent volatility in the stock market during 2015-16 has put a stop on surrender of unit-linked insurance plans (Ulips), a problem that had been rampant in the past several years.
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