Future Generali penalized for Rs.50 lakh
The IRDAI has imposed a penalty of Rs.50 lakh on Future Generali Life Insurance Company against 34 charges on a variety of aspects related to business. It has…
Foreign stakes in insurers’ parent not to count for FDI
The finance ministry clarified the doubts on the fact that the foreign shareholding in parent companies of insurance ventures would not be counted as overseas ownership for computation of…
Vice President Addresses at Diamond Jubilee Celebrations of the Insurance Institute of India, Mumbai
The Vice President of India Shri M. Hamid Ansari has said that Insurance can mitigate the economic impact of events like illness, death, disability, fire, theft, and natural disaster…
Capital requirement for health insurance ventures to be slashed by 33%
The Insurance Regulatory and Development Authority of India (Irda) is on the mind of reducing the capital requirement for setting up a standalone health insurance company by as much as…
Correct anomalies in product pricing: IRDAI
The Insurance Regulatory and Development Authority of India (IRDAI) has directed the insurers to correct anomalies in product pricing after careful analysis of the underwriting practices and make things easier…
Life Insurance Council pushes regulator for 50% concession in re-insurance rate
Life Insurance Council has urged the regulator for 50% concession in re-insurance rate on Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), on account that its members face losses as…
Insurers in Japan expand foreign bond portfolio to enhance yield
Japanese life insurers are investing in the sovereign bonds of emerging countries such a Roland and Mexico, as ultra low interest rate in Japan and other developed markets effects…
LIC eyes Rs.31,000 cr first premium
Life Insurance Corporation of India (LIC) is looking to collect at least Rs.31,000 crore as first year premiums from insurance product sales in 2015-16. Not only this it is…
Agriculture insurance coverage needs to improve: RBI
The insurance coverage in the agriculture sector needs to be enhanced to protect the interest of farmers as well as banks lending to this sector, as per the Financial Stability…
Doubts placed by Companies on biz cap
As per the recent ordinance passed by the IRDAI on licensing of corporate agents which stated that insurance companies cannot get more than 90 per cent of business from…