Life insurers’ premium growth eases to 10%
The life insurance companies reported moderation in new business premium (NBP) growth in December. From a 30 per cent uptick in November, NBP growth last month slowed down to 10…
Digital adoption, key for life insurance companies
The life insurance industry faced the brunt of elevated claims during the pandemic, but the period also brought with it increased awareness regarding the need for life insurance and accelerated…
Insurance mis-selling complaints shows downward trend
The data of complaints from policyholders is showing a downward trend.The number of the complaints has come down to 23,110 in 2021-22 from 25,482 in 2020-21. The incidence of mis-selling…
Axis to pick residual stake in Max Life
After receiving a rap from IRDAI, Axis Bank said it has entered into revised agreements with Max Financial Services. Under these pacts, Axis will acquire the balance 7 per cent…
LIC likely to look at composite licence
LIC may take a call on composite licence clause after the passage of Insurance Laws (Amendment) Bill in Parliament, sources said. As per the proposed Bill, an applicant may apply…
SBI Life Q3 profit falls over 16%
SBI Life Insurance Co reported a 16% fall in third-quarter profit, dragged down by an increase in expenses.SBI Life posted a profit of Rs 3.04 billion in the third quarter,…
New business premium of life insurers up 30% in November
Life insurance companies reported a 30 per cent year-on-year (YoY) growth in new business premiums (NBP) in November due to good performance by Life Insurance Corporation (LIC), even as private…
Bajaj Allianz Life eyeing more bank partnerships
Bajaj Allianz Life Insurance Company, is now doubling down on its bancassurance play that has paid rich dividends over the last five years, propelling the share of its institutional business…
Early exit benefit in term plans allows policyholders to withdraw early, pays back premium
Term insurance policy buyers now have the option to exit the policy early and even get the premium back. And this convenience will come at no extra cost or difference…
LIC has edge over pvt insurers: Gains market share in FY23
Life Insurance Corporation (LIC) of India has gained almost 4.5 percentage points market share in the current financial year (2022-23, or FY23) in new business premium (NBP) from private players,…