Insurance 2019 Budget LIVE
Currently, the insurance penetration in India is 3.7 percent of the gross domestic product (GDP) as against the world average which is 6.31 percent. The life insurance sector in India is growing at 11 percent to 12 percent. General insurance is growing at 18 percent per annum. For standalone health insurance, the average growth rate is 35 percent per annum. By cutting taxes in the Budget, the government can put more money in the hands of the middle class and workers. This will benefit the insurance sector as well, though indirectly with hope of greater penetration. The insurance sector experts are of the view that a rise in government spending in the healthcare sector can help huge protection gap to come down and make insurance affordable.
Showing of 0 - 10 from 9 results
Insurance 2019 - Total results - 9
Jul 15, 2019
Relaxing FDI limit in insurance intermediaries to strengthen distribution capabilities: Fitch RatingsThe Budget proposal of relaxing foreign investment limit in insurance intermediaries will strengthen distribution capabilities and increase international involvement, particularly from developed markets, Fitch Ratings said on Monday
Jul 01, 2019
Union Budget 2019: Consolidation of PSU general insurers may require capital infusion of Rs 13,000 crThe government may need to shell out close to Rs 13,000 crore to improve the financial health of public sector general insurers before initiating their consolidation, sources said
Jun 14, 2019
Govt plans to merge all four state-run insurers to form single, mega entity under New India Assurance CoThe government is reportedly planning to form a single, mega entity by merging all four state-run insurers - New India, Oriental National, United India and New India Assurance
Jun 13, 2019
Union Budget 2019: Industry lobby FICCI for increasing FDI cap in insurance sector to 74%The government needs to increase foreign direct investment cap in the insurance sector and multi-brand retail trading for products manufactured and sourced from India for attracting overseas inflows, industry chamber FICCI said on Thursday
Jan 28, 2019
Budget 2019: Startup LetsMD seeks incentives for healthcare sector; demands measures to boost insurance penetrationHealthcare startup LetsMD on Friday sought incentives in the forthcoming Budget for setting up hospitals in smaller towns and cities, and also demanded measures to boost insurance penetration
Jan 28, 2019
Budget 2019: Govt may provide Rs 4000-cr capital infusion for public sector general insurers to strengthen financial healthThe Department of Financial Services sought Rs 4,000 crore in the Budget for fund infusion in three insurance companies
Jan 23, 2019
Budget 2019: Announce accidental insurance, concessional credit for traders, CAIT asks Narendra ModiTraders' body CAIT on Wednesday demanded an incentive package from Prime Minister Narendra Modi for traders such as accidental insurance coverage, credit at concessional rates and rationalisation of GST slabs
Jan 22, 2019
Insurance sector to witness strong growth on robust GDP expansion, evolving regulatory regime: Moody'sDuring fiscal 2018, total gross premiums for the non-life and life insurance sectors grew 11.5 percent to Rs 6.1 lakh crore ($94 billion), bringing the 5-year compound annual growth rate (CAGR) to 11 percent.
Jan 10, 2019
Finance Minister should consider liberalising Section 80C, and increase tax exemption limitSenior citizens have their own geriatric needs. Unfortunately, section 80C doesn’t cater to them.