Pvt life companies see 35% surge in March premiums at Rs. 23000 crore
Private life insurance companies saw a sharp jump in their premium incomes in March 2023 ahead of the tax breaks on high-value policies coming to an end. The Union Budget…
Manipal Group eyes $100 m for insurance biz
A day after officially confirming that Singapore government-owned investment fund Temasek had picked an additional 41 percent in Manipal Healthcare to become the single largest shareholder with a 59 percent…
Govt appoints S Mohanty as LIC’s acting chairperson
The government appointed Siddhartha Mohanty, who is currently serving as the managing director (MD) of Life Insurance Corporation (LIC), as its Acting Chairperson for three months from March 14. M.R.…
Insurers may get to sell related services
General insurers may soon be allowed to sell services such as gym memberships, vehicle repairs, and other diagnostic services in addition to their core insurance offerings. The government intends to…
Insurance space buzzing up as new players queue up for foray
The insurance business is expected to be more competitive and crowded with many new players entering the industry soon. “There are 20 applications seeking approval for setting up new insurance…
LIC hopes next set of insurance reforms will get Parliament nod
LIC is hopeful that the next set of proposed reforms to the insurance sector will soon go through Parliament, fuelling the pace at which the country marches towards “insurance for…
High-value life policy sales lack big push in Feb-Mar
Life insurance companies have so far not seen any significant pickup in high-value non-par policy sales after the government in the Union Budget 2023 decided to tax proceeds of such…
Govt appoints two MDs for Life Insurance Corporation
The government has appointed M Jagannath and Tablesh Pandey as Managing Directors of Life Insurance Corporation of India (LIC). The Appointments Committee of the Cabinet (ACC) has approved the appointments,…
Bagchi to be next CEO of ICICI Pru Life
ICICI Bank executive director Anup Bagchi will take over as MD & CEO of ICICI Prudential Life Insurance after incumbent N S Kannan retires on June 18. In their meeting,…
LIC plans to cap exposure to companies
LIC is planning to impose caps on its debt and equity exposure to companies, two sources said, in a bid to lower concentration of risk following criticism of its investment…