LIC profit jumps 466% in Q4
Life Insurance Corporation of India has recorded a standalone net profit of Rs 13,427.8 crore for the quarter ended March FY23, a rise of 466 per cent over the corresponding…
LIC’s Adani portfolio value up 54% from Hindenburg
The value of Life Insurance Corporation’s investment in the Adani group companies went up to Rs 44,664 crore, marking a 54 per cent rise from the recent lows of Rs…
LIC relaxes claims process for Odisha train victims
Life Insurance Corporation of India announced various reliefs for claim settlements of victims of the triple train accident in Odisha’s Balasore district. The national insurer said it will expedite claim…
SAT stays transfer of Sahara’s biz to SBI Life
The Securities Appellate Tribunal (SAT) has stayed the order by the IRDAI, transferring the business of Sahara India Life Insurance (SILICL) to SBI Life. This is the second time that…
SBI Life to take over 200,000 Sahara policies
IRDAI has identified SBI Life Insurance to take over liabilities of about 200,000 policies of Sahara India Life Insurance (SILIC) as the latter failed to comply with regulatory directions, amid…
Jagannathan, quits Star Health Insurance
V Jagannathan, the 78-year-old founder of Star Health Insurance - the country's first standalone health insurance player - has exited the company that he set up in May 2006. Jagannathan,…
ESIC-run social security scheme adds 1.3 million members in March
Over 13 lakh new members joined the Employees‘State Insurance Corporation or ESIC-run social security scheme in March 2023, according to an official data released recently. The latest data is part…
Life insurer Tata AIA looks at health covers
Tata AIA Life Insurance is looking to increase its presence in health covers. The company aims to provide short-term health insurance and indemnity plans if regulator IRDAI's proposal to allow…
Moderate alcohol intake can’t be ground for rejecting medical claim
The district consumer grievances redressal forum in a recently passed order said moderate consumption of alcohol cannot be used as grounds to reject medical insurance claims. The Forum directed New…
IRDAI set to issue permits to a dozen insurers
The insurance regulator plans to issue about a dozen licences this year, building on last year’s momentum when three companies got insurance licences in life and non-life segments after more…