IRDAI levied Rs 15 lakh penalty on Shriram Transport Finance
IRDAI has levied a fine of Rs 15 lakh on Shriram Transport Finance Company for selling insurance policies in violation of norms. The IRDAI stated Shriram Transport Finance as a…
Insurance Australia Group sells stake in SBI General Insurance
Insurance Australia Group, the joint venture partner in SBI General Insurance, has recently said that they have entered into definitive agreements with an aim of selling its entire stake of…
AIG introduces new syndicate at Lloyd’s
American International Group, Inc. has recently declared the proposals in order to launch a new syndicate at Lloyd’s serving the specialist U.S. high net worth market that will start writing…
SBI Life Insurance increases to Rs 872 cr after Q2 results
SBI Life Insurance Company grew 3.91% to Rs 872.50 after the insurer declared its Q2 figures. New Business Premium (NBP) jumped 40% to Rs 7,820 crore in the first half…
Cholamandalam fined Rs. 1 crore for violations
Cholamandalam MS General Insurance Company (GIC) has recently been fined Rs 1 crore for several violations related to payment of commissions to brokers on sale of health insurance. The insurance…
Chandigarh consumer forum asks LIC to pay Rs 1.80L widowed woman
Upon the observation that a “person is alcoholic does not mean he will suffer a fall on the ground, though his gait may be abnormal or his speech could be…
India Insurance – Step Ahead – BIMTECH Insurance Colloquium -2019
The BIMTECH Insurance Colloquium 2019 witnessed a very intense and animated discussion among industry captains, thought leaders and renowned academicians on the theme "Deciphering the Emerging Marketing Scenario". The colloquium…
HOW TO ESTIMATE GLOBAL REINSURANCE PREMIUMS
Introduction: Global Direct Insurance Premium for 2018 is estimated as under- Life: USD 2820 Billion USD 5193 Non-Life: USD 2373 Billion Billion Reinsurance Premiums according to Reinsurance Treaty Programs of…
IRDAI & NHA propose hospital registry, empanelment process, grading
IRDAI’s joint working group and the National Health Authority (NHA) has recently made proposal of a unique common hospital registry, empanelment process, grading of hospitals and package cost harmonisation with…
Insurance sector registers substantial growth despite economic slowdown
Despite the economic slowdown, the insurance sector of the country has recorded a substantial growth rate in premiums, as per the data. Former IRDAI member KK Srinivasan said, “In general…