The Union Cabinet's decision to raise the foreign direct investment (FDI) limit in the insurance sector to 100 per cent is unlikely to significantly boost foreign investment as distribution remains a critical factor, requiring overseas players to partner with Indian businesses, experts said.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
The last telegraphic message to be sent from Mumbai's Central Telegraph Office was not a personal message, neither was it a patriotic one.
A month down the line, you may be holding insurance policies in electronic form. According to sector experts, the regulator is in the last lap of checking repositories' preparedness and infrastructure, and is likely to allot licences by May-end or early June.
Life insurers are aggressively targeting HNIs. A look at some of the products on offer.
After he smashed India to World Cup victory, Yuvraj Singh has moved to a new orbit in the endorsement circuit.
Birla Sun Life Insurance on Wednesday announced that it has adopted the Automated Underwriting and Risk Analysis software to automate its underwriting process which would enable the company to issue policies in just 30 minutes.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
In January 2017, the growth in total premium was Rs 13,138 crore, against Rs 10,284 crore in January 2016, a growth of 28 per cent.
PFRDA will invite bids to appoint pension fund managers.
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