Month: May 2023

The four public sector general insurance companies have lost 800 basis points (bps) in market share in last five years to their private counterparts. In 2018-19, the four had a…

Ahead of the 2024 general election, the government plans free insurance for cows as currently, farmers pay 20-50 per cent of the premium charged by insurance companies even after capping…

Tata AIG General Insurance and others have received the contract to provide $10bn cover to Air India and its low-cost international subsidiary Air India Express. Under the contract, the airline…

Brokers are playing a bigger role in the distribution of non-life insurance in India, with their share of premiums doubling to over 35% from 17% over the last 10 years.…

The four public sector companies now account for less than a third of the non-life insurance market after losing 2% share in FY23. While the private sector has gained, the…

Shriram General Insurance (SGIC), said that its main focus areas in the 2023-24 fiscal is electric vehicle insurance. The firm added that it has already tied up with several original…

Aditya Birla Capital Limited (ABCL), a company under the Aditya Birla Group, announced the sale of its entire stake in Aditya Birla Insurance Brokers Limited (ABIBL), which is a non-material…

In a bid to facilitate reinsurance premiums, commissions, claims and any other transactions between the insurer, insurance intermediary and reinsurance companies, the insurers are looking at setting up a digital…

Agriculture Minister Narendra Singh Tomar launched a ‘DigiClaim’ platform under the national crop insurance portal for speedy disbursal of claims to insured farmers. On the occasion, the Minister also transferred…

Agriculture minister Narendra Singh Tomar informed Parliament that for every Rs 100 of premium paid by farmers under the flagship scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), they have received…