Digitisation globally has become an integral part of the corporate culture and insurance companies are no different, but the Indian insurance firms are lagging behind as per a report. .…
According to the National Centre for Seismology (NCS), 29 Indian cities and towns fall under “severe” to “very severe” seismic zones. The Bureau of Indian Standards (BIS) has classified different…
From Agro Insurance, the Insurance companies have collected premiums totalling around Rs. 22,345 crores and paid out claims worth just Rs. 5,876 crores to farmers under the Pradhan Mantri Fasal…
The solvency ratio reflects a company’s finance capacity to meet its short and long term liabilities. It examines the Company’s buffer to settle all claims in extreme situations. Recently, the…
In order to maintain solvency level of 1.65 times (regulatory requirement of 1.5 times), the general insurance sector needs approx Rs. 37,000 crores of capital in next 5 years. “Owing…
The public sector companies like New India Assurance, SBI Life Insurance, General Insurance Corp. of India (GIC plans to launch their IPOs to raise funds of Rs. 70,000 crores, Rs.…
Karnataka Bank has signed a Memorandum of Understanding (MoU) with Bajaj Allianz General Insurance Company for General Insurance business. With the agreement, the bank would be able to provide vast…
In its 60th year of operation, ECGC has reduced the premium rate by an average 17% for its whole turnover policy covers. The average rate of premium under short term exporters'…
General Re, a part of Warren Buffet’s Berkshire Hathaway family of companies, has received the final approval — known as R3 — from the Insurance Regulatory and Development Authority of…
Japanese Insurer Tokio Marine has hiked its stake in non-life insurance venture IFFCO-Tokio to 49% by acquiring additional shares in the company for Rs.2,530 crore. While Tokio Marine had 26%…