Ping An's overseas investment arm Ping An Global Voyager Fund has led a $70m Series D funding in Indian auto technology company CarDekho alongside Sequoia Capital and Hillhouse Capital. This is the insurance group's first venture investment in India.
The Finance Ministry has sought approval from the Parliament for an additional grant of funds for the recapitalisation of three state-run general insurance companies ahead of taking further steps to merge them.
In a bid to increase the penetration of life insurance in the country, the IRDAI is allowing point of sales (PoS) persons to distribute micro life insurance plans.
Agriculture Insurance Company (AIC) is making big strides to help school dropouts and kids with low learning levels as well as other vulnerable groups of children.
The insurance regulator has asked government owned banks that are merger candidates to provide a road map on what they propose to do with their stakes in insurance companies after the merger comes into effect.
An analysis of utilisation patterns of the Pradhan Mantri Jan Arogya Yojana - the government's flagship health insurance scheme - shows wide variation in average claims among different states.
Standalone health insurance companies in India saw a 34.3% year-on-year (YoY) growth in premium collection to INR71.9bn ($1bn) for the April to October period, the highest growth rate in the non-life segment.
India has marginally improved its ranking to 32nd position out of a total of 37 markets, in terms of providing pension and retirement benefits to citizens compared to last year, according to a report. The country was in 33rd place in 2018 out of 34 countries in the list.
HDFC Life, an Indian private life player, has launched a video life certificate facility for its corporate and retail annuity customers, which is a first such initiative in the Indian life industry.
Bulk drug makers have seen a significant jump in insurance premiums for fire and allied perils this year. Premiums have jumped by at least three times from previous rates.