GIC Re successfully completed its maiden IPO which was subscribed to the extent of 1.90 times. This will increase the visibility of the company among the masses.
Newindia Assurance has already launched its 9600 crore IPO wef 1st November 2017. NIA seeks to sell 12 crore shares in a price band of Rs 770-800 per share. This includes an offer for sale (OFS) of 9.6 crore shares by the government and a fresh issue of 2.4 crore shares. Retail individual investors (RIIs) and qualified employees will get a price discount of Rs 30 per share each.
National Insurance Co. Ltd. has already applied with IRDA for launching its IPO in the immediate future.
Lombard General Insurance Co. Ltd. already brought its IPO in the recent part which was quite successful. Many companies have jumped into the fray for getting listed in the market and the stock market will get a boost from the Insurance Industry.
As per postal Life Insurance Department the scope of the same has been extended to cover more and more segmented people under its coverage. Postal Life Insurance is the most profitable life Insurance unit of the Postal Department under the Central Government.
Current Crop Insurance in the country is far more successful than the earlier schemes. In case of marginal farmers some subsidy element may be added by the Government to popularise the scheme. Though crop insurance is not a very profitable portfolio but as the coverage increases and more and more numbers of farmers are covered the losses would come down.
IRDAI as well as all the Insurers in the country have the moral responsibility for raising awareness about Risk Management among the policy holders and also be made aware of ‘Do’ and Don’ts’ so as to settle the claim at the earliest possible.
