Insurance News

SME News, Thursday, Apr 25, 2013
NEW DELHI: The Union Finance Minister P. Chidambaram said that there is a need to take immediate action by the non life insurance sector to increase penetration and coverage of the non life insurance in the country.     He said that India is one of the most under insured country in ...

SME News, Saturday, Apr 20, 2013
JAMMU: In a bid to provide better health services in the state, the Jammu and Kashmir government has decided to bring BPL families living in 10 districts under health insurance cover, a state Minister said on Friday.     Shabir Ahmad Khan, Minister of State for Health, J&K said, ...

SME News, Saturday, Apr 20, 2013
WASHINGTON: Union Finance Minister P. Chidambaram on Friday said, increasing foreign direct investment in the insurance sector is a top priority for the ruling UPA and hoped that Bill will be passed in the upcoming Parliament session.     Chidambaram also appreciated the efforts of ...

SME News, Wednesday, Apr 17, 2013
  NEW DELHI: India's general insurance industry increased by 19.34 per cent in the 11 months of 2012-13 fiscal led by SBI General which recorded over three-fold growth in gross premium as compared to last fiscal.   The 27 non-life insurers collected Rs 61,885.11 crore premium in ...

SME News, Monday, Apr 08, 2013
NEW DELHI: India’s largest bank, State bank of India (SBI) has decided to discontinue offering the free group personal accident insurance cover from July. Currently, SBI is offering free accident insurance cover to all its customers for car and home loans. The coverage shall see ...

SME News, Saturday, Mar 30, 2013
  CHANDIGARH: Government of Haryana on Friday decided to execute a new insurance scheme. The new insurance policy will provide life insurance protection to people living below poverty line, marginally above poverty line and rural landless households.   The move comes after the Cabinet ...

SME News, Friday, Mar 29, 2013
NEW DELHI: The segment for general insurance has hailed Irda’s decision in context of enhancing the premium for motor insurance.     However, it also pointed out that the premium hike decision could not compensate for all losses that the sector has been ...

SME News, Saturday, Mar 16, 2013
NEW DELHI: The Ministry of Finance has asked government-owned general insurance companies to better financial health using smart underwriting and efficient claim management.     Minister of State for Finance Namo Narain Meena mentioned that these four PSU general insurers have ...

SME News, Wednesday, Mar 13, 2013
CHENNAI:  India's leading non-life insurer New India Assurance Co Ltd is upbeat about offering insurance protection to mobile handsets sold at Nokia retail outlets.   New India and Nokia India have entered into a tie-up whereby mobile phone buyers at Nokia outlets in 10 ...

SME News, Tuesday, Mar 05, 2013
CHENNAI:  Private general insurer Cholamandalam MS General Insurance Company Ltd (Chola MS) plans to infuse fresh capital of around Rs.50 crore next fiscal, increase the individual agency force to 20,000 and sign up couple of bancassurance deals, a top official ...

SME News, Saturday, Mar 02, 2013
BHUBANESHWAR: Insurance company New India Assurance (NIA) has said that for the current financial year it aims at achieving a net profit of Rs 600 crore as well as expansion of its international operations.   The company, which has been going through a low, registered profit after tax of ...

SME News, Thursday, Feb 21, 2013
HYDERABAD:  Over the next half-decade, insurer-managed funds in India might touch the Rs 30 lakh crore mark. This would mean a 70 per cent hike from the existing level of Rs 18 lakh crore. Back in 2000, the opening year for the industry in India, the level stood at Rs 1 lakh crore. J Hari ...

SME News, Tuesday, Feb 19, 2013
HYDERABAD: The Insurance Regulatory and Development Authority (IRDA) has allowed agents of general insurance companies to sell mediclaim products of standalone health insurance companies to help increase the penetration of such products in public.   "In order to encourage penetration of ...

SME News, Thursday, Feb 14, 2013
MUMBAI: Tata Capital Growth Fund has bought 14 per cent stake in Star Health & Allied Insurance Company for Rs 120 crore.   Star Health & Allied Insurance Company is the country's first standalone health insurance company - valuing the company at Rs 850 crore.   This will ...

SME News, Tuesday, Feb 12, 2013
MUMBAI: The insurance segment in India could soon see finalization of micro insurance norms. The suggested norms propose a structure whereby urban and rural insureds could get hands on economical micro-insurance products from companies. Insurance Regulatory Authority of India (Irda) would need to ...