Insurance Industry News, Insurance News, Insurance Companies, Indian Insurance Industry

Axis Bank Executive Director Hemant Kaul resigns

Axis Bank’s Executive Director, Hemant Kaul has resigned from the bank to join as the Chief Executive Officer of Bajaj Allianz General Insurance.

Govt for consensus to pass reforms bill: FM

The Government sought broad political consensus to clear the crucial legislations, including the labour and the insurance bills, to push forward the reforms for returning to 9 per cent economic growth.

IRDA to stick to Nov 1 deadline on disclosure norms

Insurance regulator IRDA said that it would stick to November 1 deadline to bring out guidelines for public disclosures to be made by insurance companies.

PM urged to release Rs 356.58-cr crop insurance

Andhra Pradesh Chief Minister K Rosaiah has requested Prime Minister Manmohan Singh to immediately release Rs 356.58-crore from the Centre towards payment of insurance claims to farmers who suffered crop loss due to recent floods and drought in the state.

LIC market share rises to 66 %

Life Insurance Corporation, has increased its market share by over 10 per cent.

AIG to disburse $12 mn in delayed payments

AIG, the insurer that received a huge government bail out, said on Friday it is paying $12.1 million in retention awards to some top executives.

General insurance industry grew 8 per cent in first half

Non-life insurers have collected Rs 16,819 crore premium in the first six months of the current fiscal.

AIG to sell Taiwan life insurance unit for $2.15 bn

AIG will be selling its life insurance unit in Taiwan to a consortium of companies for USD 2.15 billion.

LIC invests Rs 90k cr in 1st half of this fiscal

Life insurance major LIC has pumped in around Rs 90,000 crore into the markets.

Disclosure norms will increase transparency: Insurers

A day after IRDA recommended that insurance firms should make public disclosures, insurers said the move would increase transparency in the sector and allow customers to take informed decisions.

Reliance Life's AUM cross Rs 10,000 cr

The AUM has grown from Rs 300 crore in September 2005 to Rs 10,000 crore in 2009.

Aviva, India Post announce tie-up

Aviva Life Insurance and India Post announced a nation-wide strategic partnership.

Reliance Life to strengthen its health insurance portfolio

Reliance Life Insurance currently has one hybrid health product providing wealth accumulation along with health insurance.

ING sheds Australia wealth JV for $1.6 bn

The venture, established in 2002, was originally planned to expire in 2012, but ING's troubles in Europe sparked a review of its deal with ANZ.

AEGON Religare launches Invest Maximiser Plan

This plan has the lowest charges which help customer maximise their investments, AEGON Religare Chief Executive Officer, Rajiv Jamkhedkar, said in Hyderabad.

LIC to recruit over 2-lakh agents

LIC, is planning to recruit more than 2-lakh agents by the end of this financial year.

Valuation norms for insurance cos soon: IRDA chief

Indian laws currently permit insurance companies to go for IPOs only after 10 years of operation.

ICICI Prudential sees premium growth of 10-15 pct

ICICI Prudential Life Insurance said it expects 10-15 per cent on-year growth in premium in the current fiscal.

LIC eyes 19 pct premium growth in FY10

State-run Life Insurance Corporation of India is targetting a premium growth of 19 per cent in 2009/10, Chairman T.S. Vijayan said on Friday.

AIG to sell stake in life insurance JV to Tata

After exiting from its IT outsourcing outfit, financially battered American International Group (AIG) is now gearing up to sell its 26 per cent stake in Tata AIG Life Insurance....

Income from insurance premium may cross Rs 850 cr: ECGC

State-run Export Credit Guarantee Corporation of India (ECGC) said its income from insurance premium is expected to jump by over Rs 100 crore this fiscal to Rs 850 crore, as more and more exporters are facing payment defaults.

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