SBI General Insurance announces 51% GWP growth in H1FY20
SBI General Insurance has recorded a profit before tax of 278 crore for the first half of financial year 2019-20 (H1FY20) as compared to 256 crore a year ago. The…
Shanai Ghosh appointed as CEO & Executive Director of Edelweiss General Insurance
Edelweiss General Insurance has recently appointed Shanai Ghosh as Executive Director & Chief Executive Officer (CEO). Shanai has been with Edelweiss General Insurance for two years, spearheading Strategy, Marketing and…
Insurance Australia Group sells stake in SBI General Insurance
Insurance Australia Group, the joint venture partner in SBI General Insurance, has recently said that they have entered into definitive agreements with an aim of selling its entire stake of…
Insurance sector registers substantial growth despite economic slowdown
Despite the economic slowdown, the insurance sector of the country has recorded a substantial growth rate in premiums, as per the data. Former IRDAI member KK Srinivasan said, “In general…
ICICI Lombard General records 5% growth in Q2 net profit
As the quarter ended in September 30, 2019, ICICI Lombard General Insurance recorded a 5% growth in net profit due to long-term motor policies and losses from natural disasters in…
New India Assurance Company introduces special drive to cover uninsured vehicles
The New India Assurance Company has recently launched special drive for extending insurance cover to all those vehicles which are not insured to provide support to the ongoing drive launched…
Motor cover renewals see over 50% increase
Renewal of vehicle insurance policies has recently seen an increase of more than 50%. In some cases, growth has surged as much as six times. “We are experiencing an average…
Ratings of 3 public insurers downgraded
Global rating agency AM Best, which focuses on insurance sector, has downgraded 3 public sector companies - National Insurance, United India Insurance and Oriental Insurance - reflecting deterioration in their…
FinMin allows 100% FDI in insurance intermediaries
Mixed reactions have been evoked as Finance Minister Nirmala Sitharaman’s declared to allow 100% foreign direct investment (FDI) in insurance intermediaries. The finance minister stated that the government will examine…
Workers in J&K and Ladakh will be covered by EPFO soon
Following the abrogation of Article 370, the Employees Provident Fund and Miscellaneous Provisions Act, 1952, will be implemented in the Union Territories (UTs) of Jammu and Kashmir, and Ladakh. The…