Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Marinje also said the Indian women's team need more competitions to improve levels and win an Olympic medal.
While select private insurers like ICICI Lombard, Tata AIG and IFFCO Tokio provide specialised insurance covers for 'art' items, the minimum value they look at is in excess of Rs 1 crore.
Similar to a travel insurance that is purchased during booking flight tickets online, those booking tickets on IRCTC's website would get an option to purchase insurance for their train journey
Take the Rediff Biz Quiz and find out how much you know about the private insurance companies in India.
ICICI Lombard General Insurance on Thursday said it has started offering zero depreciation add-on cover and consumable items add-on cover for motor insurance products.
Apollo DKV's Maxima and ICICI Lombard's Health Advantage Plus come at a fixed annual premium of Rs 13,000 and Rs 15,000, respectively. Unlike other medical insurance policies -- which require a minimum 24-hour hospitalisation -- the sum assured is linked to the age of the policyholder.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far.
While all her teammates left for home after the junior camp ended on March 19, Suman decided to stay back at the SAI centre in Bengaluru with the senior sides and was stuck there for more than two and half months because of the nationwide lockdown.
Analysts say large issue sizes and high prices were key reasons for the poor response to IPOs of other public sector insurance entities. The high share price meant small investors did not foresee any listing gain
ICICI Lombard General Insurance on Tuesday launched a travel insurance scheme for students going abroad for higher studies.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Most people do not know how to use it. At best, it provides tax benefit.
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
Take a top-up or a standalone health cover; it will help you switch jobs and give larger coverage.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Lack of training is an obvious concern but India's hockey players are also feeling homesick and they made that known to Sports Minister Kiren Rijiju in an online interaction on Thursday while pleading for limited resumption of practice. The Indian men's and women's hockey teams told the minister that resumption of on-field training in small groups as soon as possible will give them an an upper-hand over other top nations as they gear up for Olympics next year.
Insurers have introduced new profiling parameters such as marital status, income and even ownership of flat.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Home healthcare remains a niche segment in India even today. Nightingale provides services, starting from family physicians, short- and long-term nursing care, post-hospitalisation care and physiotherapy to stroke rehabilitation, respiratory care, bedside caregivers and attendants, intensive care at home, lab tests and speech therapy.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
These are meant for students travelling abroad for further studies.
hree big players -- ICICI Lombard General Insurance Company, Bajaj Allianz General Insurance and Apollo Munich -- have launched policies in tie-ups with spas, gymnasiums, yoga institutes, diagnostic centres and health food retailers to offer discounts to customers on these services and products.
Amit Madhan, national manager, retail products, ICICI Lombard GIC, talks about the most important things that students, business and leisure travellers must know while buying travel insurance.
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
Apart from paying ransom, the policy also takes care of the reward money, personal accident, cosmetic surgery and legal expenses.
Half of the smoking population in the country thinks smoking 'within limits' is harmless, a survey by a private general insurance firm has found.
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
You need not shell out the big bucks to be pampered. Buy a health cover and enjoy luxury treatment at a spa, join a gymnasium or a yoga centre and get the necessary incentives that suit your budget.
In the June quarter, growth in the segment stood at around 4 per cent, with premium collection at Rs 15,724 crore against Rs 15,074 crore in the same period of FY19. This was the lowest growth in the last five quarters, starting from Q1FY19.
Have a query regarding health insurance or mediclaim policy? Maybe we can help. Drop us a line and our expert, Harsh Roongta, CEO of Apnapaisa.com, will answer it.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
State-run auto insurance providers are fast losing ground to private players and their market share could be under pressure unless PSUs change their strategy, says a JD Power study.
Health insurance expert Anil Rego in an online chat with readers answers health insurance queries.
Though General Insurance Corporation of India has a majority stake of 40 per cent as the re-insurer, the rest was re-insured with global reinsurers.
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