New premium income of life insurers up by 91%
New business premium income of life insurance companies witnessed a surge by 91 percent to Rs 39,078.91 crore in July as against Rs 20,434.72 crore during the corresponding period of…
Kotak Mahindra Life Insurance plans to double share of protection portfolio
Kotak Mahindra Life Insurance is gearing up to focus on growing its digital business and double the share of the protection portfolio from 3.2 percent to 6.8 percent, Mahesh Balasubramanian,…
Go Digit Insurance files red herring prospectus for Rs. 5000 crore IPO
Go Digit, the general insurer backed by Canada’s Fairfax, has filed its draft red herring prospectus (DRHP) to raise around Rs 5,000 crore through an initial public offering (IPO) that…
Banks line up Additional tier plans after IRDAI opens door to insurers
Lenders from Bank of Baroda to State Bank of India are lining up plans to raise about Rs 10,000-15,000 crore in the next two months through additional tier-1 bonds, according…
Tata AIA Life declares Rs. 861 crore surplus
Tata AIA Life Insurance has declared Rs. 861 crore in annual surplus transfers to the participating policyholders for FY22. The company said this is the fifth consecutive year of surplus…
Canara HSBC Life declares bonus for ninth consecutive year
Canara HSBC Life Insurance has declared a bonus amounting to Rs. 78 crore for all its eligible policyholders for the financial year 2021-2022. This is the ninth consecutive year when…
BharatRohan to offer parametric crop cover for paddy
Agritech start-up BharatRohan has introduced ‘Pravir Shield’, an initiative to provide parametric crop insurance to farmers in collaboration with ICICI Lombard and rural insuretech broker Gramcover. The pilot phase of…
Good signs on crop insurance front as gross premium declines by 11%
As the Centre has been trying to win back States that quit the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), a drop in gross premium in the current kharif season…
Cognizant, insurer AXA Ink tech deal
Software exporter Cognizant has said it has won a multi-year IT services deal from multinational Insurer AXA UK & Ireland, a digital win for the company amid lowering quarterly bookings…
UP widow battered to death over insurance money
A 30-year-old woman, who had been resisting attempts by her in-laws to hand them over the insurance corpus she was about to receive for her husband’s death eight months ago,…