Page 16 - Irdai

Irdai working group recommends relaxing investment norms for insurers

The panel has suggested having a single limit of expenses over and above the monitoring of solvency and enterprise level expense limit

Irdai trims solvency margin for crop insurers; to unlock Rs 1,400 cr funds

Irdai expects that the effect of the relaxation will be positive on the industry as it will free up the capital, which can be utilised for underwriting more business

Go Digit promoters Watsa, Goyal seek regulatory nod for reinsurance biz

Currently, India has one domestic reinsurance company, the state-owned General Insurance Corporation (GIC Re)

Now, life insurers can introduce products without Irdai's prior approval

Currently, all life insurance products and riders require prior approval of the insurance regulator before launch

Irdai eases capital requirement for insurers to offer PMJJBY schemes

PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years

Irdai eases PMJJBY capital requirement to encourage insurer participation

Insurance sector regulator Irdai on Friday relaxed capital requirement norms significantly for insurers to encourage their participation in the government's flagship programme PMJJBY

More flexibility for insurers as Irdai eases health product approvals

Move will help firms adapt to changing customer preferences

Irdai extends 'Use & File' procedure to health and general insurance plans

Currently, insurance companies have to obtain prior approval from the insurance regulator to launch new products

IRDAI eases approval norms for health, general insurance products

Irdai has tweaked 'Use and File' procedure for all health insurance products and almost all the general insurance products in line with the reform agenda taken up towards having a fully insured India

Piramal Group not eligible to acquire Reliance Capital, says Irdai

Group has promoter stake in Pramerica Life Insurance

Insurance firm Howden to raise stake in Indian arm to 100%%; gets Irdai nod

Global insurance broker Howden said it has received insurance regulator Irdai's approval to raise its stake from 49% to 100% in its Indian arm

Irdai sets up committees through GIC to suggest industry overhaul

These panels have been formed to look into areas of regulation, products, distribution, finance, health, finance, taxation, ease of doing business, among others

Non-life insurers' gross premium income rises 24% to Rs 21,327 cr in April

The non-life insurance companies had a gross premium business worth Rs 17,251.10 crore in April 2021

LIC listing to result in increased transparency of its operations: Moody's

"We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO," Moody's said.

IRDAI suggests new modules for low-income group, small businesses

The committee has suggested that the insurers should be allowed to adopt a modular approach using various permutations and combinations for Combi MI (Micro Insurance) products.

Insurers allowed exposure to fin, insurance upto 30% of investment assets

Accordingly, the limit of 25% of investment assets stands revised to a limit of 30% of investment assets

Finally Irdai promotes an official as per Telangana High Court order

In line with the Telangana High Court's order but with delay, the Insurance Regulatory and Development Authority of India (IRDAI) has promoted S.N. Jayasimhan as the Chief General Manager (CGM).

Buy optimal mix of base plan and super top-up to check cost of health cover

If your insurer has hiked the premium rate excessively, consider porting

New business premium income of insurance cos up 13% at Rs 3.14 trn in FY22

Twenty four life insurance companies had a total premium income of Rs 2,78,277.98 crore from new business in the previous fiscal

Irdai may go for 100% FDI in 'new' insurance biz to expand scope of sector

In Budget FY21, Finance Minister Nirmala Sitharaman had announced raising the cap of FDI to 74 per cent for insurance companies with effect from August 2021