1 lakh LIC employees protest against proposed IPO
Around one lakh employees of LIC staged a walk-out as the government has decided to sell a part of its stake in the life insurance major through an IPO. The…
LIC invests Rs. 46,850 cr in equities during Apr-Jan
LIC has infused Rs 46,850.33 crore in equities in the first 10 months of FY20, according to official data. In the April-January period of FY19, LIC has invested Rs 59,115.67…
Oriental Insurance comes under IRDAI watch for hiding commissions
The Oriental Insurance Company has been pulled up by the regulator for hiding commissions in 2016-17. The regulator in its charge has noted that Oriental paid Rs 137 crore to…
IRDAI plans to standardize charges for few medical procedures
Increasing tariffs in hospitals has become one of the major concerns of IRDAI, because of which the IRDAI has planned to make standardization in terms of charges for some medical…
General insurers need to be more efficient to cut losses, says IRDAI Chairman
General insurers are required to be more efficient by controlling expenses in order to cut losses, said the IRDAI Chairman. “Many general insurance companies have underwriting losses but they are…
ASSOCHAM Hosts Health Insurance – Rethinking Business Models & Excellence Awards
Associated Chambers of Commerce and Industry of India organised the Health Insurance – Rethinking Business Models along with Excellence Awards in Kolkata to take national health insurance to a greater…
AXA XL appoints Scott Gunter as CEO
AXA announced the appointment of Scott Gunter, previously Senior Vice President of Chubb Group and President of Chubb’s North America Commercial Insurance division, as CEO of AXA XL. He will…
IRDAI panel recommends premium plans for micro-insurance
A panel of the insurance regulator has recommended introduction of daily premium payment policies to deepen insurance penetration in low-income groups. The panel on 'micro-insurance' said the product benefits need…
IRDAI asks insurers to review products annually & withdraw low-selling products
The CEOs of insurance companies have been asked by the IRDAI to review their products annually and discard policies that are poor-selling. Subhash Khuntia, Chairman, IRDAI, said, “I would like…
IRDAI asks insurers to play active role in corporate governance of investee firms
The IRDAI has asked insurance companies to play an active role in order to ensure high level of corporate governance standards in listed companies. IRDA in its revised guidelines on…