Private Insurers
Life insurers' new biz premium up 14% Y-o-Y in Sept; rises 19% in H1 FY25
LIC's new business premium grew by 12.4 per cent Y-o-Y to Rs 203,69.26 cr
Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth
LIC share of rural policies more than doubled; ULIPs witnessed increased demand in urban areas
 "Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth")
Insurers eye windfall from proposed satellite-based toll collection system
Lack of regulatory clarity complicates matters on third-party data-sharing
 "Insurers eye windfall from proposed satellite-based toll collection system")
New surrender value norms: Life insurers likely to alter product mix
To push Non-par policy sales till Sep 30
 "New surrender value norms: Life insurers likely to alter product mix")
Irdai proposes changes in listing requirements of insurance companies
The insurance regulator has proposed the merger of seven different regulations
 "Irdai proposes changes in listing requirements of insurance companies")
Irdai proposes changes in listing requirements of insurance companies
The insurance regulator has proposed the merger of seven different regulations
Private general insurers expand market share to 53.58% in H1FY24
Private general insurers increased their combined market share to 53.58 per cent in gross direct premium underwritten in the first half of the current financial year from 50.81 per cent in the year-ago period. As many as 31 insurers from the non-life industry had underwritten gross direct premiums of Rs 1.43 lakh crore in the first half of the current financial year, according to data on segment-wise gross direct premiums up to September 2023 released by Insurance Regulatory and Development Authority of India (Irdai). Private insurers registered an annual increase of 14.86 per cent in gross direct premiums. The non-life industry had underwritten gross direct premium (GDP) of Rs 1,25,194 crore in the April-September period of 2022-23. "Private general insurers have a combined market share of 53.58 per cent YTD September 2023 with a growth rate of 21.13 per cent as compared to a market share of 50.81 per cent YTD September 2022 with a growth rate of 21.33 per cent," Irdai said. PSU
 "Private general insurers expand market share to 53.58% in H1FY24")
Life Insurance companies reports 7.64% YoY rise in new business premiums
ICICI Prudential Life Insurance inched up by 2.00 per cent YoY to Rs 8739.05 crore while Max Life Insurance recorded 27.87 per cent growth to Rs 5004.1 crore
 "Life Insurance companies reports 7.64% YoY rise in new business premiums")
Future Protected: HDFC Bank, RIL, Infosys top holdings of private insurers
Top insurers have parked nearly a fourth of their AUM in the top 10 stocks, reveals an analysis by Nuvama Institutional Equities
 "Future Protected: HDFC Bank, RIL, Infosys top holdings of private insurers")
Higher claims pushed up non-life insurers' underwriting losses: Report
Life insurers paid benefits to the tune of Rs 5.02 trillion in FY22, says regulator's annual report
 "Higher claims pushed up non-life insurers' underwriting losses: Report")
New business premium of life insurance companies rises 30% in November
Private insurers' APE growth rebounds after lagging behind for three months
 "New business premium of life insurance companies rises 30% in November")
Explained: Why private insurance companies in India are coveted buys
By chasing profit over rapid expansion, companies have conserved capital, making them attractive for potential buyers
 "Explained: Why private insurance companies in India are coveted buys")
HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter
Value of new business (VNB) of the insurer was up 10.3 per cent YoY to Rs 748 crore in Q2FY23 compared to Rs 678 crore in the year-ago period
 "HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter")
Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block
Price range set at Rs 564.1-578.55 per share; sale could fetch UK-based financial major at least Rs 2,425.6 cr
 "Abrdn to offload 2% in HDFC Life in block trades, put 43 mn shares on block")
Life insurers' new business premia up 18% in August despite large base
In FY23, so far, non-life insurers have reported a 19 per cent growth in premia to Rs 1.02 trillion
 "Life insurers' new business premia up 18% in August despite large base")
Life Insurers to benefit once again from low-base effect in Q1FY23
Analysts are more bullish on stocks of private insurers
 "Life Insurers to benefit once again from low-base effect in Q1FY23")
ICICI Lombard reports marginal increase in net profit at Rs 446 cr in Q2
As the company has merged Bharti Axa General Insurance business with itself, the numbers are not comparable with the previous year's numbers
 "ICICI Lombard reports marginal increase in net profit at Rs 446 cr in Q2")
Covid-19 impact: ICICI Lombard net profit falls 62% in April-June quarter
In the April-June quarter, the insurer posted an underwriting loss of Rs 508.16 crore against an underwriting profit of Rs 38.16 crore in the year-ago period.
New business premium of life insurance firms declines 5.5% in May
Private insurers' NBP jumped 14 per cent in May, while state-owned Life Insurance Corporation (LIC) reported a decline of 12.3 per cent
 "New business premium of life insurance firms declines 5.5% in May")
China seeks private insurers help to unlock savings to avert pension crisis
Hong Kong insurance sector is eyeing China's $15.3 trillion savings to avert a crisis in its state pension system, the size of the world's second-largest economy
 "China seeks private insurers help to unlock savings to avert pension crisis")
