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Irdai to form actuary panels for life, general insurers

Irdai to form actuary panels for life, general insurers

General and life insurance companies will be able to engage actuaries as the regulator Irdai will soon form panel of such analysts.

 Bajaj Allianz General launches mobile-based settlement system

Bajaj Allianz General launches mobile-based settlement system

Bajaj Allianz General Insurance on Monday said it has launched a mobile application-based health claim settlement facility.

General insurance posts a robust 12.5% growth in Q1

Riding high on motor and fire premia and government-run social security schemes, the general insurance industry grew 12.5 per cent in the April-June quarter mobilising Rs 23,418 crore in premium income.

Bajaj Allianz FY15 profit up 37% at Rs 562 crore

Bajaj Allianz General Insurance Tuesday reported a 37 percent jump in net profit at Rs 562 crore for 2014-15 in spite of natural calamity claims due to floods in Jammu and Kashmir and cyclone Hudhud.

Bajaj Allianz GI profit up 37% Rs 562 cr in FY'15

Bajaj Allianz General Insurance has reported 37 percent rise in net profit at Rs 562 crore for 2014-15 despite settling claims worth Rs 962 crore on account of floods in J&K and Hudhud cyclone on Andhra Pradesh.

Govt approves 19 FDI proposals worth Rs 2,165 crore

The government on Tuesday approved 19 FDI proposals worth Rs 2,165 cr including Rs 1,290 cr investment proposal of Bharti AXA Life and General Insurance.

Insurance regulator's proposal pose brand equity challenge for banks

The Indian insurance regulator`s proposal to make banks sell policies of at least two insurers of each category - life, general and health - has thrown up an unexpected brand equity challenge for the banks, insurance experts say.

General insurance industry growth slows to 3-yr low at 9.3% in FY15

The industry had grown by 13 per cent in FY 2014 to Rs 77,540 crore, according to the General Insurance Council data.

Australia's IAG to raise stake in JV with SBI

Insurance Australia Group Ltd will raise its stake to the maximum allowed 49 percent in a general insurance joint venture with State Bank of India.

Insurance industry threatens to go on nation-wide stir

Opposing the proposed bill allowing foreign direct investments in insurance sector, the General Insurance Employees' All India Association has threatened to stage a nation-wide stir if the Centre goes ahead with its proposal.

Customer complaints in general insurance drop by 66% in 5 yrs

The number of complaints dropped to 63,335 in 2013-14 from 1,86,615 in 2009-10, the report released jointly by Insurance Regulatory and Development Authority (Irda) and Consumer Affairs Department said.

Reliance Cap Q2 profit up 20% on MF, general insurance push

The total income rose by 12 percent to Rs 2,084 crore for the quarter ended September 30, the company said in a release.

General insurance wage talks tomorrow; many ready to join NPS

The Monday's wage negotiations will be the second round on the issue, as the first round had already taken place earlier during the year.

General insurance players see revival in H2 FY15

General insurance (GI) industry expects better growth in the current fiscal as greenshoots start appearing in the commercial vehicle segment amid hope that post-election a stable government at the Centre would augur well for the sector.

'Insurers' losses to remain high despite premium hike'

The 10-15 percent average hike in third-party motor premium by the regulator is not sufficient to cover the losses and therefore the claim ratio will stay high, say industry officials.

SBI General sets 60% premium growth this fiscal

"In this fiscal we expect to grow at around 60 per cent, which we feel is reasonable," managing director and chief executive Bhaskar J Sarma told PTI.

Tata AIG General Insurance eyes 15% premium growth in FY15

Private general insurer Tata AIG General Insurance is hopeful of posting around 15 percent growth in premium collections in the next financial year on the back of an expected recovery in economy, a top company official has said.

Reliance General Insurance hopes to post profit this fiscal

Private-sector insurer Reliance General Insurance hopes to register profit in the current financial year on the back of a diversified portfolio and reduced dependence on motor segment, a top company official has said.

New India Assurance eyes 20% growth next year

State-run New India Assurance is hoping for a healthy growth in 2014 on the back of better auto sales, uptick in investments and rural demand, a top company official said Friday.

Aviation insurance to emerge as growing segment in GI sector

Aviation insurance is likely to emerge as a key growth area in the coming years with new airlines starting operations and existing players expanding fleet size, industry officials said.