Insurance sector Budget 2020
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 17 results
Insurance Sector - Total results - 17
Mar 22, 2021
Lok Sabha passes Insurance (Amendment) Bill, 2021 raising FDI from 49 percent to 74 percentPiloting the bill, Finance Minister Nirmala Sitharaman said hiking the FDI limit in the insurance sector will help insurers raise additional funds and tide over the financial problems
Feb 21, 2020
Axis Bank hints at raising stake in Max Life Insurance Co; lender may eye over 20% share: ReportThe last major deal done by Axis Bank was an acquisition of digital payments company Freecharge in 2017 for Rs 385 crore
Feb 01, 2020
Budget 2020: Govt to sell stake in LIC via partial listing; sets steep divestment target of Rs 2.1 lakh cr for FY21Although the government did not give a roadmap for listing LIC, it said that Rs 90,000 crore will be achieved via stake sales in state-owned banks and financial institutions.
Jan 24, 2020
Budget 2020: Insurance industry expects more tax incentives to increase penetration of life, general cover among publicThe insurance industry is expecting more tax incentives to increase the penetration of life and general cover among the public in the upcoming Union Budget
Jan 21, 2020
Economic slowdown to hit insurance premium collections over next 2-3 years: Moody'sDespite low penetration, the ongoing economic slowdown will impact insurance premium collections over the next two to three years, global ratings agency Moody's Investors Service said on Tuesday
Jan 13, 2020
Union Budget 2020-21: Nirmala Sitharaman may announce second round of capital infusion for non-life insurersFinance Minister Nirmala Sitharaman may announce second-round capital infusion for public sector general insurance companies in the upcoming Budget to improve their financial health
Nov 21, 2019
Govt to set up unified regulator for IFSCs; bill to be introduced in Lok Sabha after withdrawal from Rajya SabhaCurrently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators—the RBI, SEBI, IRDAI
Aug 28, 2019
Union Cabinet to consider relaxing FDI norms in single brand retail, digital media todayFDI helps in improving the country's balance of payments situation and strengthen the rupee value against other global currencies, especially the US dollar.
Aug 07, 2018
Online hiring activity up 9% in July; auto, real estate, construction and BFSI continue to lead the growth: ReportOnline hiring activity saw 9 percent jump in July primarily driven by banking, insurance sector and going forward, employers are expected to be "cautiously optimistic"
May 01, 2018
Ex-bureaucrat Subhash Chandra Khuntia to head insurance regulator IRDAI for three-years, succeeds TS VijayanFormer IAS officer Subhash Chandra Khuntia was on Tuesday appointed as the new Chairman of Insurance Regulatory Development Authority of India (IRDAI)