The Chennai branch of Country Club Ltd has teamed up with the ICICI group to launch the 'CCI Flexi MasterCard life membership', bringing a host of benefits to its members.
"The general insurance penetration accounts for just 0.6 per cent of the country's GDP. There is clear potential for robust growth and we intend to leverage this opportunity. We have the financial capital, technology, distribution and brand to do this," says Vishakha Mulye, executive director, ICICI Lombard -- the largest private-sector general insurance company in India.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
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.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
India's financial sector is dominated by large government-owned and private-sector banks.
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.
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.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
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.
Cyber insurance policies cover ransomware attacks and the ensuing damages, including ransom payments, data restoration costs, forensic and other first-party costs, and loss of profit due to business interruption.
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
An insurance company is liable to pay compensation to the accident victim's kin even if the driving licence of the offending vehicle's driver has expired and not renewed, as an expired licence would not make him an unskilled driver, the Bombay high court has said.
The final of the Women's National Cricket League (WNCL) saw a thrilling finish as five wickets fell in the final over the match.
Sarfaraz Khan missed training session at the Eden Gardens and is set to miss the upcoming Irani Cup after sustaining an injury at the Delhi Capitals camp.
India A captain Abhimanyu Easwaran is likely to be called as a replacement for the injured skipper Rohit Sharma for the upcoming two-Test series against Bangladesh.
Mumbai's run machine Sarfaraz Khan was ruled out of the match because of injury.
'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.'
Air India, under its new Tata management, has taken a Rs 60,800 crore ($8 billion) cover by paying Rs 266 crore premium to a clutch of insurance companies, including Tata AIG General Insurance. The airline managed to get a better deal as it valued its fleet lower by almost $2 billion. The new management held extensive negotiations - both in India and London, to get a good deal considering the rising premiums due to the ongoing Russia-Ukraine war.
Dr Reddy's Laboratories Ltd expects the locally manufactured Russia's COVID-19 vaccine Sputnik V to be available from September-October period, a senior official of the city-based drug maker said.
Make sure you read the policy wording. Some policies cover pre-existing diseases while others don't. Many need a minimum 24-hour hospitalisation, advises Bindisha Sarang.
Gujarat batter Priyank Panchal, who replaced the injured Rohit Sharma for the upcoming Test series in South Africa, said he is honoured to get a call-up to the Indian team.
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.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
While Saini took three for 42, fellow pacer Deepak Chahar claimed one for 35 and left-arm spinner Saurabh Kumar picked up two wickets.
Wicketkeeper-batter Ishan Kishan and skipper Hanuma Vihari hit a fifty each to guide India A to 229 for 6 in reply to South Africa A's 268 all out at stumps on the second day of the third unofficial Test, in Bloemfontein, on Tuesday.
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.
Those who have an insurance policy need to check its clauses to determine if it covers home care treatment, advises Bindisha Sarang.
ICICI Lombard is utilising the latest technology and forensic methods to verify insurance claims.
Indian women's hockey captain Rani Rampal, her six team-mates and two support staff members have recovered from COVID-19 infection after spending two weeks in quarantine at the Sports Authority of India's Centre in Bengaluru.
'He is at his best now, he is in the right frame of mind.' The tough times he has gone through will only make him a better player and a stronger personality.'
The seasoned PR Sreejesh led the way as the Olympic-bound Indian hockey teams on Thursday received their first dose of COVID-19 vaccines in Bengaluru.
Besides Rampal, the others who have been infected are Savita Punia, Sharmila Devi, Rajani, Navjot Kaur, Navneet Kaur and Sushila.
Annual premiums do not exceed what you readily shell out for an OTT subscription.
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.
India have won eight Olympic gold medals in the past, but their last top finish came way back in 1980 Moscow Games.
The National Commission ruled that a person must opt for a policy and submit the proposal form after acquainting himself with the terms and scope of coverage to determine where it would be suitable and adequate.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
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