KKR to aquirestake in Shriram insurance
Global investment major KKR & Co has entered into a definitive agreement to acquire a 9.99 per cent stake in Shriram General Insurance (SGI) for around Rs 1,800 crore. The…
Non-life insurers post 11% growth in FY22 premiums
After a low single digit growth in FY21, the non-life insurance industry reported an 11 per cent growth in premiums to Rs 2.20 trillion in FY22. This compares with a…
3 PSU general insurers to get capital infusion of Rs. 5,000 crore
The Centre has raised the authorised capital of three public sector insurance companies - Oriental Insurance Company Limited (OICL), National Insurance Co. Ltd. (NICL) and United India Insurance Co. Ltd.…
Nurture Farm, Digisafe partner to offer weather cover to farmers
Leading agritech startup nurture farm and Digisafe insurance brokers announced their partnership on offering KAVACH – a weather-based cash guarantee program launched for nurture farm farmers. Farmers using the startup’s…
Oriental Insurance’s solvency ratio declines
The solvency ratio of Oriental Insurance Company has been pegged at 0.69 for the year ended March 31, 2021 which was previously at 0.92, according to filings made with the…
Madhulika Bhaskar appointed as acting chief of New India
The Government has appointed Madhulika Bhaskar, General Manager at General Insurance Corporation (GIC Re), as acting chief of New India Assurance. “The posting is reckoned against the vacant post of…
Motor third party cover hike to be delayed
The insurance industry’s plan to hike third party motor insurance premium for the first time after three years from April 1 is likely to witness a delay. The Ministry of…
Group health and cyber cover costlier
The new financial year of 2022-23 has seen a sharp rise in renewals of insurance premiums across categories with group health policy costs rising by up to 40%and cyber coverage…
Claims ratio of Fasal Bima scheme dips to 61% in 2020-21
Claims to premium ratio under Pradhan MantriFasalBimaYojana (PMFBY) and other crop insurance scheme were around 61 per cent in 2020-21 as against 85 per cent in 2019-20, as a favourable…
GIC Re set to participate in reinsuring Kudankulam units
GIC Re will be participating in reinsuring the Rs 43,200-crore insurance coverage of the under-construction units of Kudankulam nuclear power plant. It has quoted a 15 % share of the…