PM crop insurance to reach out to 1 crore farmers
In an attempt to create more awareness among farmers about the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), the Centre has decided to launch a massive drive of reaching out…
IRDAI proposes lifelong renewability of personal accident insurance
IRDAI is planning to amend insurance rules so that insurers cannot deny lifelong renewal of a personal accident policy provided the policy has been earlier renewed without a break. .…
IRDAI takes up legal recourse issue with govt on surety bond business
IRDAI has taken up the issue of insurers being treated at par with banks when it comes to recovery recourse available to them for the surety bond business and the…
Debasish Panda appointed as new IRDAI Chief
The government has appointed former financial services secretary Debasish Panda as chairman of the Insurance Regulatory and Development Authority of India (IRDAI). The Appointments Committee of the Cabinet has approved…
Shriram Life Insurance settles claims worth more than Rs 400 crore in 9 months
Shriram Life Insurance has paid more than Rs 400 crore worth of claims during the nine months of this fiscal. The private insurer settled insurance claims for 38,590 persons, (34,407…
Insurance firms step up stock purchases amid market swings
Domestic insurers, led by the Life Insurance Corporation of India (LIC), have stepped up their equity purchases amid relentless selling by foreign portfolio investors (FPIs). Since November last year, domestic…
Term insurance ownership up in 2 years: Survey
Indians are buying more term plans now as term insurance ownership has gone up to 43 % from 39 % last year, revealed the India Protection Quotient (IPQ) survey 4.…
Life insurers new biz premium rises 22%
Life insurance companies reported impressive growth in new business premium (NBP) in February, driven mainly by initial public offering-bound Life Insurance Corporation (LIC) of India’s sharp jump in NBP in…
HDFC Life net up 3.3%
HDFC Life reported a 3.3 % year-on-year (YoY) rise in net profit to Rs 273.7 crore for the quarter ended December due to a decline in income from investment. Its…
SBI Life logs 56% growth in net profit
SBI Life Insurance reported a 56 % rise in net profit at Rs 364 crore for the third quarter ended December. The private sector insurer's profit stood at Rs 233…