Even as non-life insurers reported muted premium growth in October, standalone health insurers saw a robust 38 per cent year-on-year (Y-o-Y) surge. This growth was driven by pent-up demand in the retail health insurance segment.
Murders disguised as accidents. In one horrifying case, a man insured his father, mother, and wife -- then allegedly killed them all. He claimed Rs 54 crore in insurance.
Fair trade regulator CCI on Monday approved HDFC Bank's acquisition of 4.99 per cent shareholding in HDFC ERGO General Insurance Company. In June, HDFC Bank had said its board has given approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC).
These plans are suited for individuals and families with regular OPD needs -- those managing chronic illnesses and families with young children or elderly members.
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.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism.
Purchase health insurance early while you are disease-free. 'It might become very difficult to get a comprehensive health cover for someone who has already had cancer.'
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
Munjya is the most wildly entertaining ghost I have encountered at the movies recently. But he has the added advantage of being a Maharashtrian ghost, of possessing rhythms of speech and behaviour that are distinctly Maharashtrian, of being blessed with that beautiful brand of Maharashtrian irritability
Customers frequently sign without reading the terms and conditions, resulting in a poor understanding of coverage, and eventually leading to partial payouts
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
Dr Ramakanta Panda, one of the world's leading heart surgeons and the chairman and chief cardiac surgeon at Mumbai's Asian Heart Institute, recommends simple things you can do every day to keep your heart healthy.
Consider a combination of a base policy and a super top-up policy.
He will be around for another crack at the elections, and a clear majority, predicts Saisuresh Sivaswamy.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
Goel's tenure was till December 5, 2027, and he would have become Chief Election Commissioner (CEC) after incumbent Rajiv Kumar retired in February next year.
From April 1, when we buy insurance for a car or take out a health cover, insurance companies can offer a product totally customised for us.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
It noted that Article 15(5) of the Constitution does not empower the State to compel a minority educational institution to admit students from the Scheduled Castes or Scheduled Tribes or Backward Classes of citizens.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
What follows is essentially a long scene set in a single location, and you watch in amazement as the scene grows into one of Indian cinema's funniest and most spectacular pieces of sustained craftsmanship, accumulating emotional power and subtext, growing wings and claws, becoming its own beast, applauds Sreehari Nair.
Core retail segments like motor and health continue to report strong growth of 19-20 per cent with competitive intensity still visible in the motor OD (owner driven) segment. Commercial lines reported muted growth. Group health remains a key driver. Among the listed companies, ICICI Lombard continues to trail in the motor section while Star Health has lost its Y-o-Y retail market share although its better on a sequential basis.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
'On hard cases like this one, the Supreme Court has only episodically stood against Parliament and the executive government.' 'I worry that this decision sets a precedent where President's rule is imposed in another state... and during the operation of President's rule, the state is fundamentally altered.'
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
The Reserve Bank of India is likely to take a call on the relaxations sought by HDFC Bank in relation to the merger, as the date of merger draws closer, sources said. The HDFC twins, which announced their decision to merge in April last year, received National Company Law Tribunal's (NCLT's) approval recently - a key milestone to close the deal in due time. The management of both the entities had said that it will take 15-18 months for the merger.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
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.
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, banks are now coming up with awareness campaigns aimed at preventing customers from falling into the trap of fraudsters.
The Centre on Monday told the Delhi high court that Mughal Mosque in South Delhi's Mehrauli area is a "protected monument" and sought time to state its stand on a plea against the stopping of offering namaaz by devotees there.
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