Tokio Marine increases stake in IFFCO JV
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%…
Govt approves stake sale in five PSU insurance companies
The Government had cleared dilution of 25% stake in public sector general insurance companies — New India Assurance Company, United India, Oriental and National Insurance apart from re-insurer GIC Re…
Insurers hopes to maintain growth momentum
The general insurance industry hopefully will maintain its current growth momentum in 2017-18, having posted a 21.95 % growth in gross direct premium underwritten in the April-June quarter of this…
Adoption of IndAS by insurers deferred
IRDAI has deferred the implementation of Indian Accounting Standards (IndAS) by insurance companies till 2020-21. Rule 4 of the Companies (Indian Accounting Standards) (Amendment) Rules 2016 states that “the Banking…
Reliance General Insurance ties up with Catholic Syrian Bank
Reliance General Insurance (RGI), a branch of Reliance Capital, has entered into a bancassurance tie-up with Catholic Syrian Bank recently. According to the MoU, RGI will offer its general insurance…
Crop insurance is on a rise keeping general insurance companies behind
The significance of crop insurance is rising steeply at government-undertaken companies. The change is being facilitated by the Pradhan Mantri Fasal Bima Yojna (PMFBY), which has triggered competition among…
Reliance General Campaigns for Carefree Life
Reliance General Insurance has released a campaign for home insurance that breaks the traditional way of communicating. In the campaign it urges people to stop locking themselves from the…
United India, Oriental to get chairs soon
United India Insurance and Oriental Insurance have been without heads for quite some time, from June last year to be precise. Therefore, the government is taking steps to fill…
Non- life insurers to increase premium rates
There have been steady losses in general insurance segment due to large claim settlements and other negatives like falling interest rates. To even out the loss, non-life insurers…
Infosys, Tata war could give rise to professional insurance
After the tug of war between Tata group and the Infosys, fears of legal liability on the professionals have crawled up between the companies. Now companies are turning towards…