Saudi Arabia Develops Stronger Capital Rules for Insurers
Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two…
ON OVERVIEW OF UNIVERSAL LIFE INSURANCE POLICY
Introduction Life Insurance provides financial security to the insured’s dependents or loved ones, if something were to happen to insured unexpectedly. There are lots of plans available in life insurance,…
Swiss Re estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion…
Inclusion of Indemnity based Health Insurance Product through PoS – General Insurers and Standalone Health Insurers
The Authority has received requests from many insurers to allow indemnity based health insurance products to be sold through Point of Sale (POS). On examination of the request made, the…
Dutch Insurer Aegon eyes new acquisitions
Aegon NV, the Dutch insurer which generates most of its business from the U.S., is scouting for acquisitions and has looked at companies including smaller rival ASR Nederland NV amid…
Government appoints retired officials on public insurer’s boards
The Central government has inducted some retired officials from the public sector insurance companies into the boards of Life Insurance Corporation, New India Assurance (NIA), National Insurance Company, United Insurance…
Insurance regulator and Insurer penalized by Consumer Forum
A consumer redressal forum has, pulled up IRDA, asking the regulator and an insurance firm to pay compensation to a senior citizen for not taking appropriate action on a complaint…
Allianz partners Shapoorji Pallonji for $500-million real estate fund
German insurer Allianz Group has entered into a partnership with construction giant Shapoorji Pallonji Group to set up a $500-million real estate fund - SPREF II - which will invest…
BEWARE OF SPURIOUS CALLS AND FRAUDULENT OFFERS
Spurious calls in the name of regulatory organizations and government or quasi government authorities has been a problem which has been in prevalence for quite some time now. Recently some…
Prime Minster’s Crop Insurance Initiative Increases Insurance Penetration
The penetration rate in general insurance segment has been stagnant around 0.7-0.8 per cent for several years, and has finally moved up to 1.04 per cent in March 2017, based…