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INSURANCE NEWS
100% FDI in insurance a step forward, but safeguards unclear: USTR report
Wed, Apr 02, 2025     Source : Business Standard
These safeguards include requirements such as a majority of board members being resident Indians and higher solvency requirements for foreign-invested insurers domiciled outside India
INSURANCE NEWS
Reinsurance renewal rates likely to see a drop of up to 10% in FY26
Sat, Mar 29, 2025     Source : Business Standard
Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk
INSURANCE NEWS
LIC offices to be open on Sat, Sun and Monday
Sat, Mar 29, 2025     Source : Economic Times
LIC on Friday said its branches will be open during the weekend and even on Monday, which is a holiday on account of Eid in many parts of the country, to facilitate policyholders to deposit their premium.
INSURANCE NEWS
Insurance sector sees record deals worth over Rs 38,000 crore in two weeks
Fri, Mar 28, 2025     Source : Business Standard
The biggest among them is the Bajaj Group's acquisition of Allianz's stake in their two insurance joint ventures for Rs 24,180 crore
INSURANCE NEWS
Can we combine three insurance policies to claim maternity expenses?
Fri, Mar 28, 2025     Source : Mint
It is possible to split the claim across three different insurers. Once you make a claim with an insurer, you can submit the settlement voucher of that insurer to the next one.
INSURANCE NEWS
Third-party motor cover may cost more from April
Fri, Mar 28, 2025     Source : Economic Times
Insurance companies expect the cost of third-party (TP) motor cover to increase 15-20% from April 1, as the industry struggles with mounting claims and stagnant rates over the past five years.
INSURANCE NEWS
Life insurers gain amid resilient premium collections
Thu, Mar 27, 2025     Source : Economic Times
The stocks of life insurance companies have gained 7-12% since March 13, nearly offsetting the decline seen during the previous three months led by buoyancy in the broader market and healthy growth in annu...
INSURANCE NEWS
Less than 1% of health claims in India pertains to mental health: Report
Thu, Mar 27, 2025     Source : Financial Express
Less than 1% of total health insurance claims in India are for mental health treatment, despite the IRDAI’s 2018 mandate for parity with physical health.
INSURANCE NEWS
Bundled home loan insurance: No portability for single premium plans
Wed, Mar 26, 2025     Source : Business Standard
Lenders may push borrowers into buying policies without disclosing tenure, premium, and alternative products
INSURANCE NEWS
Govt approves Swaminathan S Iyer's appointment as Irdai Life Member
Wed, Mar 26, 2025     Source : Business Standard
He is appointed for five years from the date of assumption of charge or until he attains the age of 62 years or until further orders, whichever is earlier
INSURANCE NEWS
Tepid vehicle sales, competition weigh on motor vehicle insurance premiums
Tue, Mar 25, 2025     Source : Business Standard
The overall motor insurance premium stood at Rs 89,405.56 crore in the April-February period of FY25
INSURANCE NEWS
GST on insurance may be slashed to 5%
Mon, Mar 24, 2025     Source : Financial Express
Decision likely at next GST Council meet, Revenue loss to govt seen at Rs 36,000-crore.
INSURANCE NEWS
IRDAI inducts 5 new members into insurance advisory panel
Fri, Mar 21, 2025     Source : Economic Times
India's insurance regulator has appointed five new members to its Insurance Advisory Committee (IAC), bringing in leaders from banking, asset management, and insurance to shape future regulations.
INSURANCE NEWS
Allianz, Jio Financial strike deal for insurance business in India
Fri, Mar 21, 2025     Source : Business Standard
Allianz is aiming for a majority stake in the venture but is also open to securing governance rights with a path to taking control in the future, the report said
INSURANCE NEWS
Centrico Insurance Repository to offer insurance repository services to LIC
Fri, Mar 21, 2025     Source : Business Standard
The insurance repository system, introduced by the regulator, provides policyholders with a facility to keep insurance policies in electronic form and make changes
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