Bharti Enterprises on Tuesday said it expected to start its life insurance venture with French major Axa by June end.
While investments are typically reviewed annually, risk cover is often left unchanged for years.
Insurance intermediaries who receive disproportionately high commissions are likely to see a decline in their payouts, post the new Insurance Amendment Bill. The new Bill gives the Insurance Regulatory & Development Authority of India (Irdai) the power to disgorge unlawful gains made by insurers and intermediaries as well as the right to limit commissions paid to intermediaries.
The DPDP rules, which have come into effect, require companies to implement a data protection and consent management system by November 2026.
'Our new business premium is around Rs 700 crore, which we want to take to Rs 2,000 crore.'
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
The claims will include three kinds of liabilities: Damage to the aircraft; loss of lives who were aboard the aircraft; including the crew members; and third-party liability because of loss of lives where the aircraft crashed; and cargo liability.
The Insurance Regulatory and Development Authority of India's (Irdai's) decision to allow insurers to hedge risks through equity derivatives will help them manage market volatility and protect policyholder returns. However, this move is unlikely to alter their investment strategies.
After dominating the telecom space, Bharti on Monday forayed into the life insurance sector with its joint venture with global insurance major Axa Asia Pacific launching its operations in India with two products.
World's largest insurer AXA on Wednesday tied up with India's leading telecom company Bharti Enterprises for entering the life insurance business in India.
Bharti Axa General Insurance on Tuesday launched an add-on insurance product for car owners, which will provide them full purchase price of the vehicle for the first two years, in case of theft or loss.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health insurance related queries.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
While a company spokesperson said Bharti would either dilute its stake or exit the venture, the fund house is trying to rope in a bank to strengthen its distribution network. In addition, an asset management venture is seen to have closer links with banks, which are looking to offer a wide range of financial products.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
Reliance Industries Ltd buys Bharti stake in Axa joint ventures.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
Sukhwinder Kaur doggedly pursued her case against Bharti Axa Life Insurance in the consumer courts.
Bharti AXA General Insurance has introduced four new add-on covers under its motor insurance portfolio, which will be available with the company's existing product -- SmartDrive Private Car Policy. The company has launched Hospital Cash, Medical Expenses, Ambulance Charges Cover and Depreciation Cover.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
It will receive compensation from AXA after a German court ruled the insurance company's cancellation of its 2002 World Cup policy was unlawful.
Of the 200 to 250 students who enroll in a graduate language course at Doon University annually, nearly all are assured placement in a range of companies like Amazon (France), AXA Insurance, Oracle and Capgemini.
All costs relating to room, boarding, nursing expenses, medical consultation including telemedicine, consumables such as PPE kits and intensive care unit will be covered under the policy. It will also include the cost of treatment for any other co-morbidities, including pre-existing comorbid conditions along with the treatment for Covid-19.
The GST to be implemented from April 1, 2016, will increase the premiums.
Bharti will move FIPB soon for increasing Axa's stake to 49%
Public general insurance companies to collaborate for speedy settlement of claims
The insurance sector is going to get a big boost.
Don't panic if your car is stolen because your insurer is liable to pay the full amount as compensation, but you need to keep in mind that your claim should be genuine because most of the insurers try to avoid such claims, says Harjot Singh Narula
Apart from rail mishaps, the coverage would take care of terrorist attacks and accidental fall of a passenger from a train and normal accidents, riots, robbery and dacoity
'When buying a term insurance plan, you need to visualise today what could happen to your family tomorrow in your absence,' suggests Mahavir Chopra, director-health, Coverfox.com.
Bupa and Axa have already declared their intention to raise stakes.
Cyber crimes caused by the insured's employees also get covered under the policy but would exclude the actual perpetrator.
After the policy gets paid up, opt for ETI plan if you wish to extend your life cover or take the reduced paid-up if you need cash in hand
Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 100 crore
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