No deadline extension for motor insurance policies
The Centre may have advised state governments to extend the validity of all vehicle-related documents up to December 31, 2020. According to a clarification from the General Insurance Council,…
CCI approves acquisition of general insurance business of Bharti AXA by ICICI Lombard
The Competition Commission of India (CCI) has approved the acquisition of General Insurance Business of Bharti AXA General Insurance Company Limited (Bharti AXA) by ICICI Lombard General Insurance Company Limited…
Aviation insurance losses touch an all-time high as claims hit Rs 3,700 crore
A series of major and minor air-crash incidents have led to aviation insurance losses touching an all-time high of Rs 3,700 crore. The insured loss of close to Rs…
General insurers see nearly 6 pc fall in premium income at Rs 22,775 crore in Sept
Non-life insurance companies reported a 5.55 per cent decline in gross premium income at Rs 22,774.60 crore during the month of September of the current fiscal year, as per…
Reliance General partners SatSure Analytics for crop insurance biz
Reliance General Insurance said it has partnered with SatSure for satellite-based crop monitoring and predictive analytics support to better risk management and improve efficiency of its crop insurance business operations.…
TCS and B3i partner to launch solutions for insurance industry
Tata Consultancy Services has partnered with B3i Services AG, a global industry-led blockchain initiative, to design, develop and launch ecosystem innovations based on distributed ledger technology (DLT) for the insurance…
Cyber insurance premiums rise 20% on higher claims
Premium on cyber insurance covers has risen by nearly 20% for corporates, as insurers witness a surge in cyber-attackswhich will result into more claims. Future Generali India Insurance (FGII) said…
General insurance industry’s gross direct premiums falls 4.41%
Gross direct premium underwritten by the general insurance industry came down 4.41% in September as motor insurance and crop insurance businesses remained under stress. IRDAIA data revealed that general insurance…
GIC Re’s chiefasserts new IRDAI classification aimed at improving the corporate governance and risk mitigation practices
According to Devesh Srivastava, Chairman and MD of GIC Re, In the 50 years of our existence, we have in all but two years posted a loss - once in…
With PMFBY scheme turning optional, crop cover premium declines
Crop insurance premium portfolio declined in September after recording positive growth in the previous months, due to the lesser number of States participating in PMFBY. The gross direct premium for…