Bima Vistaar, in final stages
Bima Vistaar, a first of its kind all-in-one affordable insurance product offering life, health and property cover is likely to be launched soon. “The product is in the final stages…
Ramaswamy Narayanan reappointed GIC Re CMD
GIC Re has appointed Ramaswamy Narayanan as Chairman and Managing Director, effective October 1. He will replace Devesh Srivastava, whose four-year term ended at the close of September 2023 as…
Reliance General Insurance Co gets Rs. 923 crore GST notices
Reliance General Insurance Company has received show cause notices amounting to nearly Rs 923 crore from the Directorate General of GST Intelligence. According to sources, the company has received four…
Cyber insurance market to grow 30%
The Cyber Insurance Market in India is expected to grow by 27-30 per cent in the coming years, a Deloitte report said forecasting cyber insurance gaining momentum. The report indicates…
Bajaj Allianz gets Rs. 1,010 crore tax demand from GST intelligence
The Directorate General of Goods and Services Tax Intelligence (GST) has issued a tax demand and Show Cause Cum Demand Notice to Bajaj Allianz General Insurance Company worth Rs 1,010…
Non-life insurers’ monthly premia increase 15% in H1
Non-life insurance companies witnessed a 14.86 per cent year-on-year (Y-o-Y) increase in their monthly premia in the first half of 2023-34, driven by strong performance across major companies, according…
Insurance premium likely to undergo price correction, rise by 15-20%
General insurance premium is expected to rise by 15-20 per cent in the coming months as part of the risk management by the insurers, especially in the wake of the…
ICICI Lombard gets Rs. 1,728 crore GST notice
The Directorate General of GST Intelligence (DGGI), the GST investigation agency, has served a Rs 1,728 crore demand notice on ICICI Lombard General Insurance for non-payment of tax in certain…
Shiram General to focus on non-motor insurance biz
Shriram General Insurance has planned to diversify its product portfolio by focusing more on the non-motor segments like marine, fire, during the current financial year, a top official said. Motor…
Insurance industry lacks human capital in administration and marketing
The Indian insurance industry, which suffers from a dearth of human capital in administration and marketing functions, should invest in human capital, BC Patnaik, Member (Life) IRDAI, said. "There has…