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Govt allows 49% FDI in insurance under automatic route

Govt allows 49% FDI in insurance under automatic route

Seeking to attract more foreign investment, the government has relaxed FDI norms for insurance sector by permitting overseas companies to buy 49 percent stake in domestic insurers without prior approval.

Bajaj Allianz eyes new biz of Rs 3,000 crore in FY16

Bajaj Allianz Life Insurance today said it is aiming Rs 3,000-crore new business in the ongoing fiscal and will focus on increasing its individual business to 50 percent.

Bajaj Allianz eyes new biz of Rs 3,000 crore in FY16

Bajaj Allianz Life Insurance today said it is aiming Rs 3,000-crore new business in the ongoing fiscal and will focus on increasing its individual business to 50 percent.

Pay less health insurance renewal premium if your are fit

IRDA proposes to charge less Renewal premium if you are fit.

Import of pulses

Even though Irda has allowed banks to tie-up with three insurers from each segment of life, non-life and health to sell their products, State Bank of India has said it will only market schemes of its subsidiaries.

 

IRDA slaps fine of Rs 10 lakh on Tata AIA Life Insurance

Insurance regulator IRDA Monday imposed a fine of Rs 10 lakh on Tata AIA Life Insurance for violation of excess payment to corporate agents.

Life insurance body apprehends PMJJBY viability

Apex body of life insurers, Life Insurance Council is working hard towards making the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) attractive for its member companies apprehending its viability under the present pricing policy.

Give better deal to health policyholders, says IRDA

To protect the interests of health insurance policyholders, India's insurance regulator has ordered insurers and claims processing agencies to mandate hospitals to reflect the negotiated discounts on the bills.

IRDA issues norms for safekeeping of electronic data

Insurance regulator IRDA on Friday asked insurers to preserve all policies in electronic format and issued norms for maintaining and safe keeping of all e-records.

Sebi pitches for scaling up NCFE to complement Jan Dhan Yojana

It works with a vision of "a financially aware and empowered India".

LIC loses 5% new premium market share to rivals

Riding high on Unit Linked Insurance Plans (Ulips), some 23 of them have eaten up a full 5 per cent of new premium market from LIC.

Provide insurance cover to all HIV positive patients: Par Panel

 A Parliamentary Panel on Wednesday suggested the government to provide insurance cover to all HIV positive patients without any discrimination with a preferably normal rate of premium.

IRDA imposes Rs 60 lakh penalty on United India Insurance

Insurance regulator IRDA Monday imposed a penalty of Rs 60 lakh on state-owned United India Insurance Company Ltd for violation of various regulatory provisions.

Global reinsurers make a beeline; RGA ropes in ex-LIC head

Mathew joined RGA (Reinsurance Group of America) India as Managing Director and Chief Executive on March 30.

ESIC board to discuss other health insurance issue

The Employees' State Insurance Corporation will discuss Tuesday a proposal to provide an option to its 1.95 crore subscribers to choose health insurance products available in the market in lieu of mandatory scheme run by it.

Changing nominee in life insurance policies to cost Rs 100 now

Cancellation or change in nomination in insurance policies now comes at a cost as regulator IRDAI has allowed life insurers to charge up to Rs 100 for any such modification.

IRDA slaps Rs 20 lakh fine on Apollo Munich Health Insurance

Insurance regulator IRDA has slapped a fine of Rs 20 lakh on Apollo Munich Health Insurance Company, mostly for selling its policies through the website of makemytrip.Com, which is not authorised to sell insurance.

After Llyod's, many other reinsurers keen to start operations in India

The move is expected to stimulate the insurance sector and help bring in over Rs 50,000 crore in fresh capital, according to experts.

Insurance industry welcomes new law freeing agency commission

Insurance industry has welcomed the new law that empowers regulator Irda to fix agency commission, saying this will help arrest the high attrition rate, which has been dogging the sector for many years.