Insurers’ Covid claims outgo falls
The General and health insurers have seen a fall in their outgo of Covid-related health claims after the second wave. In the July-September quarter (Q2 of FY22), insurers settled a…
Govt pushing for LIC IPO on time
The government is pushing to launch the initial public offering of Life Insurance Corporation of India by next March. "We are pushing to have it done," Sitharaman said in…
LIC Housing Finance extends lowest home loan interest
LIC Housing Finance extended its lowest home loan rate of 6.66% for the festive season. Customers can avail themselves of home loans for up to Rs. 2 crore. In…
Shri B C Patnaik takes charge as Managing Director of LIC
BC Patnaik has taken charge as Managing Director of Life Insurance Corporation of India. "He was appointed as Managing Director by Government of India notification dated July 5, 2021,"…
Jana Small Fin Bank ropes in ex-Irdai chief
Jana Small Finance Bank appointed former Insurance Regulatory and Development Authority of India (Irdai) chairman Subhash C Khuntia as part-time chairman. The 1981-batch IAS officer was earlier chief secretary to…
Irdai moots premium hike for rebuilding in disaster areas
The insurance regulator has mooted the introduction of a differential premium for insured properties that are rebuilt on sensitive terrain after a natural disaster. This followed an observation that even…
Dividend Criteria for Equity Investment under “Approved Investment”
In continuation to circular no: IRDAI/F&I/CIR/INV/065/03/2021 Dt 31st March, 2021 on the subject, the Authority in exercise of its powers conferred under Regulation 14(2) of the IRDAI (Investments) Regulations,…
Underwriting losses fall, profits jump for general insurers
Despite paying a huge sum as claims and facing other challenges and constraints triggered by the Covid pandemic throughout the fiscal, the general insurance industry has seen its net profit…
Malaria and the vaccine hunt
The World Health Organization (WHO) allowed "widespread use" of the world's first vaccine against malaria, a common mosquito-borne disease that claims more than four lakh lives every year. Developed by…
Cargo Insurance premiums jump 33% this year
The sudden jump in the volume of oil, gas and coal being transported across the seas is pushing up cargo insurance premiums for India's general insurance companies. This is…