The beginning of the year 2022 marked with rise in Omicron variant which again effected the country badly. Luckily this variant was not deadly enough, though its infection rate was much higher. The spread has slowed down a little and things are coming back to normal. There has been several reports that this epidemic will end by 2022. But ground situation does not suggest so. Omicron will stay like normal flu and we need to be better prepared.
Government has not yet appointed Chairman of IRDAI which is very sad state of affairs. Keeping the top post vacant for so long is unwarranted. Amidst the covid wave and development in the industry, Govt should not delay the appointment. It also sends a wrong message that Govt is unable to find a eligible person for the top post.
Insurance Industry is growing fast in India with more than 135 crore population and ever growing economic activities in all field be it Agriculture, Industrial activities, export and import apart from flourishing automobile and other sector. Demand of Insurance will increase proportionally with rise in economic activity.
Life Insurance Corporation of India is supposed to file its IPO with SEBI within March, 2022 and the valuation of IPO is expected to be around 5 trillion rupees. This will be one of the biggest IPO ever.
GST in insurance sector in respect of personal Insurance be it Health or otherwise should be withdrawn to make the Insurance premium cheaper for personal Health Care and other areas related to personal activities.
