LIC pockets Rs. 14,800 crore in stock market profits in H1 FY21
LIC has booked profits of Rs. 14,857 crore for April-September 2020, against Rs. 11,437 crore for the same period last year, showing a growth of 30.37 per cent. LIC's investment…
Colour codes for health insurance plans
IRDAI is going to introduce colour codes for all individual health products that will enable the customers to understand the complexity of plans. According to an exposure draft released by…
IRDAI panel proposals for micro-insurers
The Committee on Standalone Micro-insurance Company set up by IRDAI has recommended that entry-level capital requirement for standalone Micro-insurance companies (SAMIs) should be reduced to Rs 20 crore from the…
Cyber insurance premiums rise 20% on higher claims
Premium on cyber insurance covers has risen by nearly 20% for corporates, as insurers witness a surge in cyber-attackswhich will result into more claims. Future Generali India Insurance (FGII) said…
General insurance industry’s gross direct premiums falls 4.41%
Gross direct premium underwritten by the general insurance industry came down 4.41% in September as motor insurance and crop insurance businesses remained under stress. IRDAIA data revealed that general insurance…
GIC Re’s chiefasserts new IRDAI classification aimed at improving the corporate governance and risk mitigation practices
According to Devesh Srivastava, Chairman and MD of GIC Re, In the 50 years of our existence, we have in all but two years posted a loss - once in…
With PMFBY scheme turning optional, crop cover premium declines
Crop insurance premium portfolio declined in September after recording positive growth in the previous months, due to the lesser number of States participating in PMFBY. The gross direct premium for…
General insurers’ premium drops 4% in Sept
Non-life insurers are back in the red in the month of September with premium collection dipping 4.41 per cent, despite a jump in premium collection by standalone health insurers. In…
Millets covered under crop insurance scheme in Kerala
Millet crops have secured a place in the Restructured Weather based Crop Insurance Scheme (RWBCIS) implemented by Agriculture Insurance Company of India. As per the recommendations of the farming community,…
Bharti AXA launches new unit linked individual insurance plan
Bharti AXA Life Insurance, announced the launch of Bharti AXA Life Wealth Pro, a unit linked individual insurance plan. This offers triple benefits of regular savings, enhanced protection and market…