Insurance Regulatory-and-development-authority-of-india

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Insurance Regulatory-and-development-authority-of-india - Total results - 17
Life insurance companies register 11.4% growth in premium income in FY20; LIC logs 22.5% decline
Business

Life insurance companies register 11.4% growth in premium income in FY20; LIC logs 22.5% decline

India's life insurance companies clocked 11.36 percent growth in their collective premium income at Rs 48.26 lakh crore during the fiscal ended March 2020, data from IRDAI showed

Coronavirus Outbreak: IRDAI allows insurers to collect health insurance premiums in instalments
Business

Coronavirus Outbreak: IRDAI allows insurers to collect health insurance premiums in instalments

IRDAI has allowed insurers to collect health insurance premiums in instalments for products they deem appropriate, in view of the prevailing conditions due to COVID-19 outbreak, which has adversely affected economic activities

Life insurers bat for hike in foreign investment limit to 100% from current 49% in sector through automatic route
Business

Life insurers bat for hike in foreign investment limit to 100% from current 49% in sector through automatic route

Life insurers have sought 100 percent foreign direct investment (FDI) limit for the sector through automatic route, which can help the sector attract capital of Rs 40,000-60,000 crore

Irdai proposes changes in vehicle depreciation calculation; invites comments from stakeholders by 16 December
Business

Irdai proposes changes in vehicle depreciation calculation; invites comments from stakeholders by 16 December

For vehicles older than three years, depreciation would gradually increase from 40 percent to 60 percent up to 7 years

LIC beats private sector players in new premium income in July; records over 3% rise  at Rs 15,312 cr: IRDAI
Business

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
Business

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
Business

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
Business

Insurance penetration in India grows just 1% in last one and half decade; These six charts explain why

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
Business

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
Business

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
Business

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
Business

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
Business

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
Business

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.

LIC-IDBI Bank deal: Insurer's proposed 51 percent stake buy may not require Parliament's approval
Business

LIC-IDBI Bank deal: Insurer's proposed 51 percent stake buy may not require Parliament's approval

Since it is going to be a financial deal as per the LIC Act, the legislation would not require amendment, sources said

Truckers begin nationwide indefinite strike to protest insurance premium hike
India

Truckers begin nationwide indefinite strike to protest insurance premium hike

Around 22 lakh trucks have stayed off the road in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana and Puducherry since Thursday midnight.

Third party vehicle insurance premiums in India likely to cost more
Auto

Third party vehicle insurance premiums in India likely to cost more

IRDA has proposed a 3-30 per cent hike over the current premium rates