Hannover Re keen to render reinsurance cover for PMSBY
Hannover Re, the world's third largest reinsurer, has decided to offer reinsurance cover for the to encourage insurance companies to participate in the scheme. The global reinsurer is in…
Insurers keep perpetual bonds at bay
Insurers are staying away from tier-1 perpetual bonds issued by banks because of the lack of liquidity in the instrument and pricing issues in it. Insurance companies also say as…
Psychiatric test for pilots likely to enhance Aviation insurance
The cost of insurance for aviation companies may rise if the Directorate General of Civil Aviation goes ahead with its plans to make it mandatory for pilots to undergo psychiatric…
June 1 marks the start of a new service tax rate
The new service tax rate of 14% will come into effect from June 1, top government sources said, in a move that will make eating out in restaurants, insurance and…
Foreign firms show interest for nuclear cover
With the Indian nuclear insurance pool falling short by Rs.600 crore, some foreign companies have shown an interest in being a part of the initiative. "We have pursued some overseas…
GIC Re more interested to acquire license than Lloyd’s membership
State owned reinsurer General Insurance Corporation Re has abandoned its expedition to buy a Lloyd's of London syndicate member and instead eyeing to apply for membership of the syndicate.…
Most Indians without home insurance: Bajaj Allianz General
A survey by Bajaj Allianz General Insurance said although 75 per cent of respondents were aware that home insurance was essential, only 30 per cent had home insurance for either…
Agriculture insurance coverage needs to improve: RBI
The insurance coverage in the agriculture sector needs to be enhanced to protect the interest of farmers as well as banks lending to this sector, as per the Financial Stability…
GIC profit scales high to 20% in 2014-15
State owned re-insurer General Insurance Corporation Re (GIC) has announced a profit of Rs.2,693 crore to 2014-15, an increase of 20 per cent over the previous year. Gross premium rose…
DFS paves way for $3 bn inflow into insurance
The Department of Financial Services (DFS) has given the green signal to Kotak Mahindra Bank's proposal to increase the foreign investment limit in the bank to 55 per cent from…