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LIC beats private sector players in new premium income in July; records over 3% rise at Rs 15,312 cr: IRDAI
•The new premium collected by LIC in the first four months of 2019-20 jumped 52 percent to Rs 60,106.66 crore, the data showed.
Irdai asks insurance companies to share status of claims with policyholders from 1 July
•Insurance companies will have to inform about claim settlement status to policyholders at various stages of processing from July, Irdai said on Wednesday
Life insurers register 33% growth in new premium income at Rs 18,209 cr in February, IRDAI data shows
•India's life insurance industry witnessed a rise of 32.7 percent in its collective new premium income at Rs 18,209.50 crore during February 2019, data from IRDAI showed
Insurance penetration in India grows just 1% in last one and half decade; These six charts explain why
Kishork123 •Despite healthy growth, India’s share in the global insurance market was meagre 2.0 percent during 2017
LIC-IDBI Bank deal: State-owned lender approves insurance behemoth's proposal to pick up additional 7% stake
•Earlier this month, the Union Cabinet had approved LIC's proposed acquisition of up to 51 percent stake in debt-ridden IDBI Bank.
IRDAI asks insurance firms to make provision to cover mental illness with immediate effect
•IRDAI asks insurance firms to make provision to cover mental illness with immediate effect
IRDAI says insurers sitting on cumulative Rs 15,167 crore in unclaimed money; big chunk lying with state-run LIC
•Insurance Regulatory and Development Authority of India has asked insurers to identify policyholders or beneficiaries and disburse the claims.
IDBI Bank board seeks government's nod on LIC's proposal to acquire up to 51% stake in debt-ridden lender
•Once the deal goes through, IDBI Bank will get much-needed capital support to revive its fortune
LIC-IDBI Bank deal: Insurer to make open offer to minority shareholders of debt-ridden lender
•LIC has been looking to enter the banking space by acquiring a majority stake in IDBI Bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet
LIC unions oppose 51% acquisition of IDBI Bank by insurer; say 'forced' to participate in bank recap program
•As per reports, LIC has been made to invest Rs 1,850 crore in PSBs in 2014-15 and 2,539 crores in 2015-16, the federation said in a letter to the LIC Chairman.