insurance

Star Union Dai-ichi Life Insurance is planning to infuse an additional capital of Rs 850 crore in the next five years to expand its business operations for insurance products. Star Union Dai-ichi Life is a joint venture between Bank of India, Union Bank and Dai-chi Mutual Life. The insurer plans to add Rs 100 crore … Read more Star Union Dai-ichi Life to infuse Rs 850 cr in five years

Insurance companies in the health sector have come together to form a Health Insurance Council to standardize practices across companies, a move that would help the policy holders to get better service and for clearing all the hurdles of growth. Along with representatives from insurance companies, the proposed body will also have representatives from third-party … Read more Health Insurance Council India – Insurers come together

The non-life insurers witnessed a 2.33% decline in their gross premium income collection in February 2009 as compared to 6% in January 2009. High discounts, ongoing economic slowdown and the cut-throat competition are considered to be the reason for this decline. Public sector general insurer National Insurance recorded a 10.43% fall in growth, while New … Read more Premium collection of general insurers decline by 2.33% in Feb

ICICI Prudential Life Insurance is planning to expand its service in the health insurance segment, company officials announced. ICICI Prudential Life Insurance’s Managing Director Shikha Sharma said that besides huge growth potential in this sector the competition is also less as there are fewer players in health insurance as compared to life insurance. This prompted … Read more ICICI Prudential to expand service in health insurance sector

The Insurance Regulatory and Development Authority (IRDA) is likely to allow the life insurers to introduce the Universal Life Policy (ULP) which allows the customers to change the policy amount after buying the policy for a different amount. The regulator is currently studying the UK model of this policy which is at the front position … Read more IRDA may allow insures to launch Universal Life Policy

HDFC Ergo has launched covering exclusions for a slightly higher premium after the Insurance Regulatory Development Authority of India (IRDA) allowed partial freedom. This is the first time a general insurer is offering cover for exclusions. Exclusions refer to those developments that are not compensated by the insurance companies. These will be clearly mentioned in … Read more HDFC Ergo launches cover for exclusions