Now, check your LIC policies, status and even buy new ones online
Now, check your LIC policies, status and even buy new ones online

The Life Insurance Corporation of India (LIC) Monday launched its own insurance repository – LIC E-services -- which will allow its existing customers to check details of policies, including settlement status, online as well as buy new ones.

Insurance industry seeks hike in tax exemption limit

Government should raise tax exemption limit for health insurance and introduce fiscal measures to help increase its penetration, say industry officials.

PM Narendra Modi wants 50% farmers to join Crop Insurance Scheme
PM Narendra Modi wants 50% farmers to join Crop Insurance Scheme

Highlighting benefits of the just-announced Crop Insurance Scheme, Prime Minister Narendra Modi Sunday said awareness about it should be spread across the country so that at least 50 percent of the farmers join it within two years.

Govt clears 'life transforming' Rs 17,600-cr new crop insurance scheme for farmers
Govt clears 'life transforming' Rs 17,600-cr new crop insurance scheme for farmers

Prime Minister Narendra Modi described the scheme wherein the Centre will provide Rs 8,800 crore annually to make up for almost all of the premium for the crop insured, as a move "that will transform the lives of the farmers in a big way".

General insurance penetration down to 0.70% in FY15

Penetration of general insurance in India has come down to 0.70 percent in 2014-15 from 0.80 percent in the previous fiscal despite an increase in per capita premium during the same period, according to data from the General Insurance Council. 

LIC eases claim settlement norms for Tamil Nadu customers
LIC eases claim settlement norms for Tamil Nadu customers

LIC has eased the procedure for settlement of claims on the lives of flood victims who are policyholders, the insurer said in a statement.

Sun Life to raise stake in JV Birla Sun Life for Rs 1,664 crore

Canada's Sun Life Assurance Company Ltd (Sun Life) will raise its stake in Indian joint venture Birla Sun Life Insurance Company to 49 percent from 26 percent at an investment of Rs 1,664 crore.

Max Life embedded value at Rs 5,363 crore as of September 30

Max India Thursday said embedded value (EV) for its life insurance business, Max Life, was at Rs 5,363 crore as of September 30.

LIC employees agree for 15% salary hike, 5-day week
LIC employees agree for 15% salary hike, 5-day week

The management of Life Insurance Corporation (LIC) and the unions representing around 1 lakh employees of the insurance behemoth have agreed on a 15 percent wage hike, which will be effective from August, 2012.

Insurance Companies Planning To Tie Up With Payment Banks To Increase Insurance Penetration

To increase Insurance penetration in India Insurance companies are eyeing to tie up with RBI authorised payment banks.

United India eyes Rs 11,800 cr premium in 2015-16

Riding on the growth of motor and health insurance segments, public sector United India Insurance has set a target of clocking a total premium of Rs 11,800 crore during the current financial year.?

Insurance FDI: Indian promoters to decide on directors, CEO
Insurance FDI: Indian promoters to decide on directors, CEO

With 49 percent FDI being allowed in insurance sector, regulator IRDAI Monday said Indian promoters will have control over appointment of majority of directors and that of key management persons, including CEOs.

IRDAI issues guidelines on FDI in insurance firms

Total foreign investment, both direct and indirect, in Indian insurance companies cannot exceed the limit of 49 percent, regulator IRDAI said Monday.

Insurance brokers Aon to exit Indian market
Insurance brokers Aon to exit Indian market

Aon, one of the world's largest insurance brokers, has decided to exit from the Indian market due to regulatory issues.

IRDAI to issue corporate governance norms this month

Insurance Regulatory and Development Authority of India (IRDAI) will issue corporate governance norms this month to address issues such as management control of insurance companies among other things

Air India gets 20% discount on annual insurance premium

Debt-ridden Air India has got a 20 percent discount on insurance premium while renewing its annual policy starting October, a senior official said Thursday.

Investment products should have no upfront commissions: Panel

A government appointed panel has suggested complete phase out of upfront commissions on investment products like insurance, mutual funds and pensions.

Payments banks may ring in better days for insurers, MFs

Insurers and fund houses see payments banks (PBs) as a boon for the sector as opportunities of cross-sell would help deepen their reach in rural areas.

LIC eyes increasing market share in policies, first premium

Life Insurance Corporation (LIC) has set a target to achieve 85 percent of its market share in terms of policies and 80 percent in terms of first premium by the end of the current fiscal.