LIC hopes next set of insurance reforms will get Parliament nod
LIC is hopeful that the next set of proposed reforms to the insurance sector will soon go through Parliament, fuelling the pace at which the country marches towards “insurance for…
High-value life policy sales lack big push in Feb-Mar
Life insurance companies have so far not seen any significant pickup in high-value non-par policy sales after the government in the Union Budget 2023 decided to tax proceeds of such…
Govt appoints two MDs for Life Insurance Corporation
The government has appointed M Jagannath and Tablesh Pandey as Managing Directors of Life Insurance Corporation of India (LIC). The Appointments Committee of the Cabinet (ACC) has approved the appointments,…
Bagchi to be next CEO of ICICI Pru Life
ICICI Bank executive director Anup Bagchi will take over as MD & CEO of ICICI Prudential Life Insurance after incumbent N S Kannan retires on June 18. In their meeting,…
LIC plans to cap exposure to companies
LIC is planning to impose caps on its debt and equity exposure to companies, two sources said, in a bid to lower concentration of risk following criticism of its investment…
IndiaFirst Life gets Sebi nod for IPO
IndiaFirst Life Insurance, promoted by Bank of Baroda, has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The life…
IRDAI permits insurers to frame commissions for policyholders, agents
IRDAI has asked insurance companies, including life and non-life, to fix an overall cap on commission payment to agents, brokers and other intermediaries, giving more flexibility to insurers in managing…
IRDAI readies to loosen its purse for top executives
IRDAI is now scouting for talent by competing with the corporates in remuneration for top executives. The insurance regulator has notified the posts of Chief Technology Officer, Chief Communication Officer,…
Report on health cover for ‘missing middle’ soon: IRDAI
IRDAI has said it will soon come out with its report on covering the 'missing middle' in the country under health insurance. The regulator has asked the industry to be…
IRDAI gives a boost to innovation with monthly review of products
In a major boost to innovation in insurance, the insurance regulator will review innovative and experimental product filings every month and approve them without delay. This is part of the…