In Nov last year, L&T Finance Holdings had told BSE it was not eligible to be the sponsor of an insurance business, as it was a subsidiary of L&T under the Irda norms
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Though costlier and fewer illnesses are covered, the breadwinner should have one with high sum assured.
Health insurance premium growth has slowed after touching record highs during the Covid-19 pandemic due to tapering demand from retail consumers amid affordability issues. According to General Insurance Council data, health insurance premiums grew by 10.44 per cent year-on-year (Y-o-Y) in the Apr-Jan period of FY25 in comparison with 20.79 per cent in the year-ago period. It was around 23.57 per cent in FY23, and 25.89 per cent in FY22.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
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
The Indian lenders are worried over the fast depleting asset base of the Future group companies which would make their recovery of dues difficult. The asset base of Future group has eroded in the last two years due to lockdown and takeover of 947 stores by rival Reliance Retail after Future group's lease on the properties expired. Bankers said they have approached bankruptcy court so as to avoid any duplication of legal action and reduce time at the legal forums.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
Make sure the rider adds value rather than just adding to cost.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
You will lose out on discounts and have to pay a higher premium.
Deal with current owner Exide may be signed next week
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
The film hits theatres tomorrow, July 25.
Given that medical inflation is estimated at 15% to 20%, a no-claim bonus can provide added benefit
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
First-time buyers advised to take offline route, so are those looking for specific feature or higher cover.
If your flight is cancelled or delayed or you miss one, a travel insurance policy can cover the costs at such times and help you book a new one.
Staying healthy is good news for the insurance company as well since it implies lower claims. Insurance companies offer discounts anywhere between 8 And 30 per cent discount on premium.
Contrary to popular perception, health insurance is rarely expensive and claims are usually paid by the insurers.
K G Krishnamoorthy Rao, managing director and CEO, Future Generali India Insurance, answers insurance queries.
The biggest surprise for customers, at the time of claiming, is the fact that they will get only depreciated value of the product.
'It is important to ensure that the person driving the car has a valid driving licence, is in a stable mental condition and is not under any heavy medication or influence of alcohol,' says K G Krishnamoorthy Rao, MD and CEO, Future Generali India Insurance.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
Instead of enhancing the sum insured of your basic policy, a more cost-effective option is buying a super top-up policy.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
The industry's reactions to the Budget have been mixed.
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
Experts hail Budget 2015 as a progressive, growth oriented one.
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