Life Insurance sector triggers 20% growth in Q1
The life insurance industry has sold additional 60% Group Single Premium policies, mopping up Rs.12,861 cr in the quarter as against Rs.8,016 cr in the same period last year. 54.6%…
LIC elevates 2 women to top brass
Life Insurance Corporation (LIC) is continuing with its trend to place female employees in a bigger role. The trend began with the appointment of Usha Sangwan, who was the…
IRDA dwindle distributors commissions
The Insurance regulator under the proposed new rules has decided to reduce the commissions that take a big bite out of initial premiums, as much as 25-30% of the…
Interview with Mr. Sushobhan Sarker, Director of NIA
"NIA should transform itself rapidly to be a global institution of excellence in learning and research in Insurance, Pension and allied areas." For the first time, in the annals…
LIC soon to operate in Bangladesh
Life Insurance Corporation of India (LIC) has been allowed to form a joint venture in Bangladesh, becoming the second foreign insurer to operate in the country officials said. …
DD, AIR to publicize claim settlement of PM’s insurance schemes
The finance ministry is seeking wide publicity for the claim settlement procedures under the two insurance schemes announced by the Prime Minister in May. The idea is to highlight…
Report of the Committee recommendation for curbing mis-selling and rationalising distribution incentives in financial/Life Insurance products
Background Regulating the financial sector is a tightrope walk in any jurisdiction, but more so in a country like India. On one hand, loose regulations can result in fraud or…
LIC investments of Rs.10K cr under close watch
Life Insurance Corporation investments worth Rs 10,000 crore is under the government's scanner for alleged nexus between top company officials and brokers for making gains at the expense of…
New amendments makes rejections to claims tight: LIC Chief
Life insurance companies will find it almost impossible to reject claims in future because of an amendment to Section 45 of the Insurance Act that allowed companies to call…
All investment decisions routed after due diligence: SK Roy
Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages assets worth Rs.17 lakh crore is set to regain the 75 per cent market…