Page 2 - General Insurance

ICICI Lombard ties up with Policybazaar to offer insurance products

The partnership will significantly augment insurance distribution, ensuring that comprehensive coverage reaches every corner of the nation through the convenience of a seamless digital platform

Acko appoints Animesh Das as CEO, elevates Sanjeev Srinivasan to board role

Das was chief underwriting officer in the company

What's Tata AIG General Insurance MD & CEO Neelesh Garg's wellness mantra

Garg avoids excessive screen time and turns to outdoor activities

Irdai notifies a consolidated regulation on expenses of management

The RRC recommended the IRDAI (EoM, including commission, of insurers) Regulations 2023, after repealing three separate regulations

Cashless treatment facility to be available across hospitals, says GIC

Currently, only 63 per cent of customers avail cashless treatment, whereas the remaining 47 per cent opt for reimbursement claims

Insurance sector's premium income to double by FY34 to $450 bn: Report

The domestic insurance sector is on course to log in over 7 per cent annual growth over the next decade and the premium income is likely to double to around USD 450 billion by financial year 2033-34, an industry report said on Tuesday. The total premium income will more than double over the next decade (2024-34) from the present USD 224 billion, and insurance penetration will increase from 3.8 per cent currently to 4.5 per cent by FY34, Swiss Re Institute said in a report. The report further said over the next five years (2024-28), the total insurance premium income of domestic insurer are likely to grow 7.1 per cent annually in real terms, which is well above the global average growth of 2.4 per cent, 5.1 per cent in emerging markets and 1.7 per cent in advanced markets, the report said. The more than double of the global average growth of the domestic industry is on the back of a resilient domestic economy which will remain the fastest growing large GDP for the next five years, ..

Premiums of non-life insurance companies rise 14.74% YoY in Dec 2023

In terms of the market share, the public-sector general insurers stood at 31.76 per cent of the overall insurance industry in December 2023 as against 33.16 per cent in December 2022

Time to review insurance cover; and buy art: Top personal finance stories

Our best stories this week explain how to review a key component of your financial portfolio and how to invest in art

Trust, financial education crucial in achieving insurance for all by 2047

Irdai has committed itself to enabling "Insurance for All" by 2047, where every citizen has life, health, and property insurance cover

Insurance for all by 2047: Insurers call for MF-style ad blitz & a rethink

These discussions took place at the Life Insurance CEOs panel at the Business Standard BFSI Insight Summit

Insurance industry must embrace innovation, enhance capabilities: Irdai

The biggest challenge is to draft a regulation which can foresee, predict and provide guidance for payments, said Panda

Insurance industry faces hurdle in growth due to dearth of human capital

To counter the shortage of human capital, insurance firms are investing in employees by recruiting directly from campuses

General Insurance CEOs laud the switch to 'principle-based' regulation

We are the 15th largest general insurance market in the world, said Dasgupta

Premiums of non-life insurance companies rise 7.37% in November 2023

The near 17 per cent fall in the premium of National Insurance Company dragged the overall premium of public sector units

New India Assurance posts one-off loss of Rs 200 cr in Q2FY24 due to floods

The underwriting loss of the largest general insurer widened to Rs 2446.93 crore from Rs 1506.92 crore in Q2FY23

Premiums of general insurance companies rise 13.65% in October 2023

In terms of the market share, the public sector general insurers stood at 31.60 per cent of the overall insurance industry in October 2023, down from 33.01 per cent in October 2022

Bad air quality may breathe fresh life into health insurance business

Most of the metro cities in India are battling acute air pollution with the Air Quality Index (AQI) readings being around "poor", "moderate" and "severe" levels for most of them

There's distrust regarding claim settlements: PolicyBazaar's Yashish Dahiya

Ritesh Kumar of HDFC Ergo said, "At the core, health insurance needs to be affordable. It's a complex problem as we are a regulated industry but the provider (health service) is not regulated."

BS BFSI Summit: From Dasgupta to Kumar, meet general insurance experts

General Insurance CEOs Panel's theme on October 31: A paradigm shift from rule-based to principle-based regime

General insurance will grow by 18-24% in FY24: Kishore Kumar Poludasu

SBI General Insurance is a multi-product and multi-channel distribution network, said Poludasu