United India aims double profit by digitalisation
United India Insurance Company (UIIC) plans a big digital push this year as it aims to more-than-double its profit to about Rs. 500 crore from Rs. 221 crore in 2014-15.…
States to implement PMFBY scheme soon
The Centre's flagship crop insurance scheme, Pradhan Mantri Fasal Bima Yojana, is likely to be rolled out in several parts of the country as the bidding process for selecting insurance…
Liberty Mutual Insurance to hike stake in Liberty Videocon General to 49%
The US-based Liberty Mutual Insurance Group is looking to increase its shareholding in Mumbai-based Liberty Videocon General Insurance to 49 per cent from 26 per cent now, a top official…
NIA in the list of PSU insurers on agenda
The finance ministry is working on a plan to list state-run insurance giants, starting with New India Assurance. Others on the list include Oriental Insurance, National Insurance and United Insurance. New India…
LIC has best claim settlement of more than 98%
According to the IRDAI's annual report for 2014-15, of the total 23 private life insurers, only 11 have a claim-settlement ratio in excess of 90% in terms of number of…
Next LIC Chief likely to come from within the organisation
By all counts, the successor to SK Roy, who has unexpectedly tendered his resignation as LIC Chairman, may come from within organization itself. Tradition has it that most of those…
LIC willing to be part of NIIF
Life Insurance Corp of India (LIC) has said it is willing to participate in India's maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF) as the state-owned company's own…