Individual insurance rates soar in 4 states

Consumers in at least four states who buy their own health insurance are getting hit with premium increases of 15 percent or more — and people in other states could see the same thing.

LIC sells 1.29% stake in Great Offshore for Rs 28.49 crore

Offshore oilfield services provider Great Offshore today said state-run Life Insurance Corporation has sold about 1.29 per cent stake in the company for Rs 28.49 crore.

Mumbai terror attacks may cost insurers Rs 500 crore

Insurance claims arising out of the Mumbai terror attacks in 2008 are estimated to wipe out about Rs 500 crore from the corpus set up by general insurers to fund such losses.

ICICI Lombard, DCB tie up to sell insurance products at bank

ICICI Bank`s general insurance arm ICICI Lombard on Wednesday said it has signed a deal with private sector banker Development Credit Bank for the sale of insurance products at bank`s branches in the country.

Reliance Insurance launches two new schemes

In a bid to tap different market segments, Reliance Life Insurance Company (RLIC) announced the launch of two new products - Reliance Jan Samriddhi plan and Reliance traditional super invest plan - here Tuesday evening.

BMW to enter auto financing and insurance by mid-2010

The German luxury carmarker on Tuesday said it will invest USD 50 million (about Rs 230 crore) to set up a financial services subsidiary to better serve its customers besides industry as a whole.

IPO guidelines within 15 days: IRDA

IRDA will come with initial public offer guidelines for the insurance sector within a fortnight to allow companies to raise funds from the capital market.

IRDA allows companies to offer life-cum-health insurance cover

Insurance regulator IRDA on Wednesday allowed insurance companies to offer `Health plus Life Combi Product, a policy that would provide life cover along with health insurance to subscribers.

Life insurers premium collection rises 21 pc

Life insurance industry logged a 21 per cent increase in premium collections during the first seven months of the current fiscal compared to the same period last year, indicating recovery in the sector.

Swarup panel`s suggestions "misconceived": insurance brokers

IBAI on Monday dubbed the recommendations of the Swarup
Committee, which proposed doing away with commission charged
by insurance agents by 2011, as "misconceived".

Ford, Subaru, VW win insurance industry picks

Ford, Subaru and Volkswagen sit atop the insurance industry`s annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms.

Insurance Ind records 11.35% growth in premium income in H1

The insurance industry overall has registered a growth of 11.35 percent in premium collection at Rs 55,866.54 crore in the first six months of this fiscal as compared to Rs 50,171.09 crore in the year-ago period.

SBI Life regains top slot among pvt insurers in first half

SBI Life, an insurance venture
promoted by the country`s largest lender SBI, has regained the
top position among private players with a premium income of
Rs 2,391 crore in the first half of this fiscal.

IRDA constitutes Insurance Information Bureau

Insurance regulator IRDA on Friday constituted an Insurance Information Bureau (IIB) to provide reliable data on the sector to researchers and policy makers.

AIG to sell Taiwan life insurance unit for $2.15 bn

American International Group will be selling its life insurance unit in Taiwan to a consortium of companies for USD 2.15 billion.

IDBI Fortis Life to hire 7,500 agents in next 5 months

Private sector insurer IDBI Fortis Life Insurance plans to double the number of its advisers to 15,000 in the next 5 months.

J&K starts insurance scheme for female sericulturists

Jammu and Kashmir Agriculture
Minister GH Mir today started a novel health insurance scheme
for the female sericulture workers of the state today.

Air India brings in Reliance General for fleet insurance

State-run carrier Air India is
believed to have roped in Reliance General Insurance, part of
Anil Ambani group, as the insurer for its entire fleet.

Valuation norms for insurance cos soon: IRDA chief

Insurance regulator IRDA will come out with standardised method for valuation of insurance companies to enable them to go for Initial Public Offering of shares in a couple of weeks, a top official said on Friday.

Income from insurance premium may cross Rs 850 cr: ECGC

Export Credit Guarantee Corporation of India (ECGC) today said its income from insurance premium is expected to jump by over Rs 100 crore this fiscal to Rs 850 crore, as more and more exporters are
facing payment defaults.