'The government is putting insurance in the same category as food, which is essential for life.' 'Now this is an opportunity for the sector to focus on the consumer.'
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
'I can feel the master's pain, because he must be sitting there and cursing and saying, 'Why was I born?''
'PowerBank-50 is now space proven, made in India, and ready for every satellite builder in the world.'
HDFC Life has a balance between traditional policies and Ulips
Life insurers' new business premium (NBP) reported stellar performance in November after a poor showing in October, on the back of strong growth in group single premiums for both private insurers and Life Insurance Corporation (LIC) of India. In November, 24 life insurers, including LIC, reported NBP to the tune of Rs 27,177 crore, up 42 per cent year-on-year (YoY) from the year-ago period. Private insurers' NBP rose 58.63 per cent YoY to Rs 11,209.75 crore as group single premiums more than doubled during this period.
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
If you quit or change jobs in your 40s, buying an individual term plan will be expensive. You might not even get one if you have health problems, says Priya Nair
'At the end of the day, it is just another technology produced by the human mind.'
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
Male central government employees are entitled to 15 days under service rules and provisions in the private sector depends on the company's policy.
Of course, NOT! Here's why. And here's how you can increase your Rs 1 crore retirement corpus.
'We are staying away from making forward-looking statements on when we will reach 1 trillion, etc. But growth will be rapid; it's only a matter of time.'
'LIC will reduce but not fully exit its stake in IDBI Bank, which remains an important bancassurance partner,' says LIC of India' MD and CEO R Doraiswamy.
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Who were the mothers who shaped Mahatma Gandhi, Sachin Tendulkar, Narendra Modi and other well-known Indians?
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
Cognizant has announced the launch of Technoverse Hackathon 2026, a national platform for engineering students to demonstrate AI-powered problem-solving skills in various industries. The hackathon aims to bridge academic learning with real-world applications and promote innovation.
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
LIC said USTR's views are based on an incomplete understanding of Indian insurance regulation and LIC's functioning.
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
The Saral Jeevan Bima product to be offered by all life insurance companies will be a non-linked non-participating individual pure-risk premium life insurance plan.
Moving to a new company means losing out on continuity benefits
Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
'Investment by insurers in the Bima Sugam India Federation is illegal as it is a private limited company.'
State-owned insurer LIC on Thursday reported a 32 per cent jump in net profit to Rs 10,053 crore for the second quarter ended September 30, aided by a lower commission outgo. The country's biggest insurer had reported a net profit of Rs 7,621 crore in the year-ago period.
'As re-industrialisation gathers pace across regions like Asia, Europe and the US, a wide range of products and inputs will see demand.'
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
'The kind of reach it has with so many bank branches even in the remotest part of the country, it is one channel which will play a very important role in vision of insurance for all.'
'Today, we are at a stage where we have launched a voice-to-voice model that supports 14 Indian languages.'
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
General insurance companies are likely to see a surge in demand for health insurance in the coming months due to falling air quality in the country. The health insurance segment has registered a strong growth after the pandemic due to higher awareness. In the first half of financial year 2023-24, the segment grew by 24.4 per cent to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving growth of the non-life insurance industry.
'India has not faced a major terrorism loss since the Mumbai terrorist attacks in 2008.'
If the oil infrastructure is attacked by the United States, the whole area could be flooded with oil, spilling into the Persian Gulf.
