Page 12 - Life Insurance

Top headlines: Delhi HC gives 2 weeks to CCI; Ola rejigs leadership team

Business Standard brings you the top stories from today

BS BFSI Insight Summit: Onus on life insurers to transform biz, say experts

The life insurance industry saw massive disruptions in the initial period of the pandemic

LIC's tepid show pulls life insurers' new business premium down 5% in Oct

Private life insurers total APE and individual APE up 19% and 23% respectively

BS BFSI INSIGHT SUMMIT | Session on General Insurance & Life Insurance

SBI Life second quarter net profit declines 18% to Rs 247 crore

Shares of SBI Life on Wednesday closed at Rs 1,183.95 apiece on the BSE, up 1.05 per cent from the previous close

Online sale of term life insurance products gains traction: Max Life

The pandemic has brought in a lot of awareness among the people and this is evident from the fact that sale of pure protection plan has seen a significant jump post COVID-19.

Compare premium rates to get a policy that best suits your pocket

To combat tighter underwriting standards, consult a distributor that could point you towards an insurer that covers people with your profile

Life insurers are at the cross-roads

As government pension and retirement schemes become less sustainable, ensuring financial security for the older population will become the central focus for life insurers in India

ICICI Pru in discussion for onboarding Account Aggregator system: Official

ICICI Prudential Life Insurance Company Ltd (ICICI Pru Life) is in discussion for onboarding the Account Aggregator system, a financial data sharing platform to be regulated by the Reserve Bank. Earlier this month, the government unveiled the Account Aggregator (AA) network to allow sharing of financial data of individuals, which can be used by various financial services providers such as banks, insurers, fintech companies. "We really look forward to that. We have been in discussion for onboarding on that platform. What the system can really do is that it will digitise the whole journey (of data collection)...today if I have to ask a customer, I will have to ask for his bank statement, income tax statement among others. "It is a big enabler and there are some discussions. We will have to see operationally where exactly we are," Deepak Kinger, Chief - Risk and Compliance, ICICI Prudential Life Insurance Company (ICICI Pru Life), told PTI. When a customer buys an insurance policy, th

Insurance woes

Recent growth masks sustained underperformance

'Govt considering foreign institutional investment of up to 20% in LIC IPO'

Since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation

Life insurers report 3% YoY growth in new business premiums in August

In July, life insurers reported an 11 per cent YoY drop in NBP while in June they managed to report a 7.53 per cent increase in NBP, following a dip in May due to the second wave of the pandemic.

Exide Life is a tuck-in acquisition at fair valuations: HDFC Life CEO

In a Q&A, the MD & CEO of HDFC Life dwelt on the contours of her company's acquisition of Exide Life Insurance and how it will help HDFC Life consolidate its position in the industry

LIC picks up 4% stake in Bank of India via open market transaction

LIC has picked up nearly 3.9 per cent (15,90,07,791 shares) of the bank through open market acquisition

Indian insurance sector: Shakeout or promoter exits to happen?

Mixed views were expressed by insurance industry officials

On the cusp of a new growth phase

'The 16-odd months gone by did have an impact on industry practices, customer preferences, and the overall working cultures of companies', says the author

Life insurers report 11% YoY decline in new business premiums in July

When compared to the pre-pandemic period (July 2019), NBP of the life insurance industry witnessed a drop of 5 per cent

Insurers' provision pool balloons as fatalities spike in second Covid wave

Claims in 2nd wave were 3-4 times the volume seen in first wave, says an insurer

Allow life insurers to sell pension-based health policies: HDFC Life chief

Regulators should allow the life insurance firms to sell pension and indemnity based health policies, as it will lead to greater penetration of insurance, HDFC Life chairman Deepak Parekh said

LIC IPO gets Cabinet nod; decision on issue size soon by FM-led panel

The government is targeting the launch of LIC's IPO in the last quarter of the financial year as it is yet to derive the embedded value of the insurer.