Insurance Regulatory and Development Authority is consulting market watchdog Securities and Exchange Board of India before allowing insurers to invest in derivative products while planning to introduce a system of risk-based capital assessment by 200
Cut throat competition between public sector units and private companies may push up general insurance business by over 25 per cent to Rs 15,000 crore this fiscal.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
The Reserve Bank will soon rope in other regulators Securities and Exchange Board of India and Insurance Regulatory and Development Authority to set up a working group in a bid to strengthen the regulatory mechanism for preventing the potential "c
The latest data released by the Insurance Regulatory and Development Authority (Irda) show that during April and May this year, premium from the sale of new policies rose to Rs 8,119 crore (Rs 81.19 billion) compared with Rs 7,331 crore (Rs 73.31 billion), representing a rise of 10 per cent.
Harinarayan's name is under consideration, sources familiar with the development said. Going by the timing of recent appointment orders of the government, it is likely that it will announce his appointment late on Tuesday and keep everyone guessing. If appointed, Harinarayan will be the third chief of Irda after its inception in 1999. Like Rao, Harinarayan is an Andhra cadre IAS officer.
Insurers say they will have to study the available data to work out by how much premiums will have to go up to be able to cover mental illnesses as well
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
Irdai has proposed to increase the Motor Third Party premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for the fiscal 2019-20.
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
IRDA seems to be sleeping. It is bothered about the well-being of the insurance companies and not about the man on the street who is buying costly Ulips.
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
Since no insurance companies share data on their claims with each other, the finance ministry and Irdai suspect that a lot of the resultant claims are duplicates.
Compared to a third party insurance buying comprehensive insurance makes more sense, says Neeraj Gupta
The NSE Nifty is at 5,340 down 22 points. Inspite of two big negative news looming in the market, the index lost around 100 points,owing to the huge FII inflow which kept the sentiments positive.
The Burman family, which runs Dabur Group, has denied any involvement or role in an illegal cricket-betting app as alleged by the Mumbai police in a complaint filed last week. The family said vested interests were behind the police complaint and they wanted to scuttle their (Dabur's) move to acquire Religare Enterprises, a financial services company. "We have not received any formal communication on any such FIR
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Insurance Regulatory and Development Authority would favour raising the foreign equity cap in the Indian insurance sector from 26% if the Indian promoters fail to enhance the capital base required to sustain the high growth of the sector.
The pool was formed by non-life insurance cos in India in Apr '02.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
The Life Insurance Corporation of India will comply with the Insurance Regulatory and Development Authority's norm on solvency by providing Rs 1,871 crore (Rs 18.71 billion) additional capital by this fiscal.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
'Because it is the only public sector company in this sector, currently.'
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
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.
The third party premium has been increased from the current Rs 700 to Rs 2,500, a 257 per cent hike for private cars, where the cubic capacity of the vehicle exceeds 1,500 cc.
Vehicles are depreciating assets and lose their value over time.
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