Crop Insurance cover third largest segment
Crop insurance has emerged as the third-largest line of business for the insurance industry, after motor and health, contributing 16 per cent of its total general insurance premium of Rs.1,28,000…
Bajaj Allianz`s launches ‘Pro-fit’ platform
Bajaj Allianz General Insurance has launched 'Pro-fit', a platform that will act as a one-stop solution to all the health-record tracking needs of customers. Pro-Fit is available on the company's…
Reliance General Insurance IPO gets SEBI nod
Reliance General Insurance Company, said it has received markets regulator Sebi's go ahead to float an initial public offering. The IPO comprises fresh issue of little over 1.67 crore shares…
Insurance Company to pay claim even if accident is abroad: High Court
The Punjab and Haryana High court has ruled that if a vehicle registered and insured in India meets with an accident in another country, the insurance company would be liable…
Munich Re to Increase Shareholding in Global Aerospace to 51%
Global Aerospace, the London-based provider of aerospace insurance, announced that Munich Re has agreed to purchase an additional 11 percent of the shares in Global Aerospace Underwriting Managers Ltd., the…
Insurance ombudsman’s jurisdiction
An Insurance Ombudsman at the head office of an insurance company, having branches across the country, would have the jurisdiction to decide on insurance-related matters, the Delhi High Court has…
LIC books Rs. 13,500 cr trading profit in Apr-Sep
Life Insurance Corporation of India, has booked a trading profit of at least Rs 13,500 crore from the sale of equity holdings in the first half of the current financial…
Insurers can now appoint professional promoters
Two former CEOs of insurance companies — Rajesh Relan (ex-CEO of PNB MetLife) and P Nandgopal (ex-CEO of both IndiaFirst) — are turning into health insurance entrepreneurs. IRDAI's decision to…
Reliance Capital arm, YES Bank in bancassurance agreement
Reliance General Insurance, has signed a comprehensive bancassurance-corporate agency agreement with YES Bank. YES Bank with its network of 1,040 branches across all 29 States and seven Union Territories will…
LIC to be less aggressive in investing in equities
Life Insurance Corporation of India, the country’s largest domestic equity investor, has said that it has decided to bring down its aggressive investment in equities. LIC had invested in Indian…