The Life Insurance Corporation of India may have to pay Rs 90,000 crore in defined maturity benefits and survival benefits, up 20% from an approximate Rs 75,000 crore in FY13…
The LIC is all set to invest nearly Rs 2.5 lakh crore in both equity and bond this year, inspite of the volatile stock markets. "We made an aggregate investment…
With Financial Services Secretary Rajiv Takru communicating to the IRDA that the proposal to have a zone-wise tie-up with banks will be very messy, the insurance regulator may scrap the…
IRDA has proposed to permit insurance companies to deal with financial derivatives with 10 years duration. As per existent rules, insurers are permitted to enter Forward Rate Agreements (FRAs), Interest…
The new norms for traditional insurance products will come into force from October 1 this year. However, the norms would not impact the industry, said T S Vijayan, Chairman of…
In an effort to cater to the crop insurance needs of farmers in remote areas, United India Insurance, in association with Agriculture Insurance Co of India, has launched an Internet…
Driven by its growth in the motor and the health insurance sector, Liberty Videocon General Insurance Company is targeting a gross premium of Rs 100 crore by March 2014. The…
The insurance companies are optimistic of quick settlement of claims relating to the damage of life and property in the Uttarakhand flashfloods. "We don't expect the claims to be very…
Tata Consultancy Services recently launched TCS Insurance QuickPass - an application that allows insured drivers to maintain a true "digital wallet" that includes a digital version of their insurance card…
With the recent flashfloods at Uttarakhand acting as a wake up call, GIC Re chairman cum managing director Ashok K Roy said the reinsurer would insist on proper implementation of…