Gross premiums of non-life insurance firms up 18% in Q1
The gross direct premium underwritten for general insurance companies reported an increase of 15 per cent year-on-year to Rs. 20,452 crore in June this year, compared to Rs. 17,809 crore…
TReDS platforms in talks with insurance cos post RBI nod
After the RBI permitted insurance companies to come onto TReDS (Trade Receivables Discounting System) platforms earlier this month, players have begun discussions with insurers. However, they anticipate a gradual take-off.…
Odisha tragedy: Only 30% opted for world’s cheapest travel insurance
With only a small number of passengers of two ill-fated trains involved in the June 2 Odisha tragedy seems to have opted for the Rs 10 lakhs insurance cover by…
General Insurers face tough choice on pushing growth and sustaining margins
The country's general insurance companies are currently grappling with a crucial dilemma between pursuing growth and maintaining profitability at a time when they are allowed to spend more on operating…
Govt proposes 3rd-party motor insurance premiums
The government proposed new base premium rates for third-party motor insurance for different categories of vehicles, including two-wheelers, passenger cars, and commercial vehicles, for 2023-24 fiscal year. According to a…
Odisha train accident: Govt. seeks data to shell out insurance claims
The government has asked insurance companies to immediately report about their exposures in terms of coverage and claim payments towards the victims of the triple train accident in Odisha on…
mooPay launches heat index-based insurance plan for dairy farmers
Dairy technology provider Stellapps’ fintech arm mooPay, in partnership with IBISA Network, HDFC ERGO and Gramcover, has launched a unique Heat Indexbased insurance plan for farmers. The cover provides financial…
Zurich Insurance eyes 51% of Kotak’s general insurance arm
Zurich Insurance Group is in talks to buy up to 51% of Kotak General Insurance, a deal that would mark its first major bet on the fast-growing South Asian insurance…
Do not revise third party motor insurance: MoRTH
Government has proposed not to revise the annual motor third party (TP) premium and even suggested a reduction of premium in a couple of segments in FY 2023-24, which will…
PM crop insurance scheme back in favour as insurers return to do biz
Insurance companies such as ICICI Lombard, Tata AIG, Cholamandalam and Oriental Insurance have returned to offer cover under PM Fasal Bima Yojana(PMFBY) this year. All these four insurance companies had…