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…
Non-life insurers’ premium falls 3.7% in August after 10 months of growth
Non-life insurance companies’ premium fell 3.7 per cent on-year in August, after rising for 10 straight months, led by a substantial fall in crop insurance premiums. In the year-ago period,…
Agri Insurer Kshema looks to double its premium by this fiscal end
Kshema General Insurance is looking to double its premium income from insuring farm activities.The company aims to double the premium collections to 1,000 crore by end of this financial year,…
PSU general insurers’ share of premium below a third of industry
For the first time, PSU General Insurers account for less than a third of the industry premium at 32.5 per cent, as larger private non-life insurers have consolidated their…