PNB signs agreement with Bank of Bahrain and Kuwait
PNB MetLife has signed a corporate agency agreement with Bank of Bahrain and Kuwait B.S.C (BBK) to distribute its retail and group products to Bank’s customers in India. The bancassurance…
London based P&I Club gets the license to operate in Singapore
Recently Steamship Mutual, P&I club, has announced it has been granted a license to operate as an insurer from its Singapore branch office. "This is a reflection of the club's…
Equity increase of Rs 11,626 crore for Axis Bank
Axis Bank recently announced that it will raise equity and equity-linked capital of Rs 11,626 crore by selling shares and warrants to a group of marquee investors including Bain Capital…
A chase between Auto Insurers and Technological Innovations
Top 3 strategies and 10-point checklist to help insurers adopt technological innovations seamlessly. Introduction While automobile insurers are busy chasing Telematics Insurance, the next path-breakinginnovation—driverless cars— is already on the…
South India faces increase in dengue patients
The Union health ministry's unit that tracks mosquito-borne diseases has recorded the largest increases in dengue patients and associated deaths this year in Karnataka, Kerala, Tamil Nadu and Puducherry. The…
HDFC Life promoters to decrease 14.92% stake in IPO
HDFC Ltd and Standard Life, the promoters of HDFC Standard Life Insurance, plans to dilute 14.92 % equity stake in the forthcoming Rs 8,700 crore IPO of the insurance firm.…
Hike in agent commission for 2-wheeler policies
IRDAI has recently hiked the maximum commission payable to agents for two-wheeler motor insurance policies to 17.5% of the premium. Previously, it was 15%. On the other hand, the maximum…
Bottomline driven approach for Kotak General Insurance
Mahesh Balasubramniam, MD and CEO expects Kotak General Insurance to close the year with a turnover of Rs. 180-200 crore and about 60% of the business has come from the…
LIC held responsible for premium embezzled by agents
Human Rights Protection Foundation’ President Ravindranath Shanbhag recently mentioned about order of the Consumer Court of Chikkamagaluru directing LIC to repay the premium amount embezzled by its agents. LIC agents…
IRDAI mandates linking of policies to Aadhaar
IRDAI recently made it mandatory for all individuals to link the existing as well as new policies to Aadhaar As notified by the Central Government, the Prevention of Money-laundering (Maintenance…