LIC’s net profit surges to Rs. 6,334 crore in Q3
Life Insurance Corporation reported a manifold increase in its net profit in the December quarter (Q3) of financial year 2022-23 (FY23), aided by a transfer of Rs 5,670 crore from…
Life Insurers report muted business growth in February
Life insurers reported muted growth in retail Annual Premium Equivalent (APE) for February 2023, largely due to a decline in retail APE growth of the state-owned Life Insurance Corporation of…
Most Indians see inflation affecting retirement lifestyle: Survey
A majority of Indians are worried about inflation affecting their retirement savings and lifestyle, shows a survey conducted by ICICI Prudential Life Insurance. The survey was carried out among over…
HDFC Life guaranteed income insurance plan
HDFC Life Guaranteed Income Insurance Plan is a non-linked non-participating individual life insurance savings plan that provides guaranteed tax-free benefits after completion of premium payment term and Guaranteed Death Benet…
ICICI Prudential Life Insurance taps ML to predict customer behaviour
Indian insurance provider ICICI Prudential Life Insurance is using machine learning (ML) models to predict the future persistency behaviour of customers who are likely to pay their renewal premium on…
Pankaj Gupta appointed MD & CEO of Pramerica Life Insurance
Pankaj Gupta has been appointed as the MD & CEO of the Pramerica Life Insurance. Gupta will succeed Kalpana Sampat. He will be responsible for driving strategic growth led transformation…
Finance Ministry looking into life insurers’ tax relaxation plea
The relaxations sought by the life insurance industry on the Budget announcement of taxing high-value policies with premiums of Rs. 5 lakh and above are currently under examination by the…
LIC’s M R Kumar likely to get another term as chairman
The chairman of LIC is likely to get another term in office. Highly placed sources said that MR Kumar, Chairman, LIC, may get another 6–12 months of additional term in…
InsuranceDekho raises $150 m in series a funding
InsuranceDekho, an insurtech platform owned by CarDekho Group, has raised $150 million in Series A funding consisting of a mix of equity and debt from Goldman Sachs Asset Management and…
60% life, health insurers see rapid rise in fraud
About 60 per cent of Indian insurance companies are seeing a rapid increase in insurance fraud, especially in the life and health insurance space, according to Deloitte’s Insurance Fraud Survey…