32% drop in LIC premia drags life insurers’ NBP
Life insurance companies reported a 17 per cent year-on-year (YoY) drop in new business premium (NBP) in February as state-owned Life Insurance Corporation (LIC) of India's premiums contracted 32 per…
Govt plans revamp of auto insurance policy
Uninsured vehicles plying on highways are set to be offered on-the-spot insurance cover, with the government discussing a plan that includes deducting the premium from the owner’s Fastag account. The…
Rash of ransomware attacks make way for cyber insurance
The cyber-insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new carriers and fresh sources of capital are emerging, and companies…
LIC’s net profit surges to Rs. 6,334 crore in Q3
Life Insurance Corporation reported a manifold increase in its net profit in the December quarter (Q3) of financial year 2022-23 (FY23), aided by a transfer of Rs 5,670 crore from…
Life Insurers report muted business growth in February
Life insurers reported muted growth in retail Annual Premium Equivalent (APE) for February 2023, largely due to a decline in retail APE growth of the state-owned Life Insurance Corporation of…
Most Indians see inflation affecting retirement lifestyle: Survey
A majority of Indians are worried about inflation affecting their retirement savings and lifestyle, shows a survey conducted by ICICI Prudential Life Insurance. The survey was carried out among over…
HDFC Life guaranteed income insurance plan
HDFC Life Guaranteed Income Insurance Plan is a non-linked non-participating individual life insurance savings plan that provides guaranteed tax-free benefits after completion of premium payment term and Guaranteed Death Benet…
ICICI Prudential Life Insurance taps ML to predict customer behaviour
Indian insurance provider ICICI Prudential Life Insurance is using machine learning (ML) models to predict the future persistency behaviour of customers who are likely to pay their renewal premium on…
Pankaj Gupta appointed MD & CEO of Pramerica Life Insurance
Pankaj Gupta has been appointed as the MD & CEO of the Pramerica Life Insurance. Gupta will succeed Kalpana Sampat. He will be responsible for driving strategic growth led transformation…
Insurers eye bigger Marine pool for Russia shipments
India's general insurers are looking to set up a larger marine insurance pool to cover the risks of transporting crude oil, edible oil, project machinery and fertiliser from the war-torn…