State-run Life Insurance Corporation of India (LIC) contributed 50.5% of total first-year individual single and non-single premium income in the financial year ended 31 March 2020 (FY2020) compared with 61.3% in FY2010, notes CARE Ratings.
A working group formed by the insurance regulator IRDAI, to revisit existing guidelines on trade credit insurance, has proposed several changes to improve the credit insurance market and meet the requirements of various stakeholders involved in trade related transactions.
Super cyclone Amphan that tore into coastal parts of eastern India and Southern Bangladesh on 20 May has wreaked havoc along a large part of the coastline, including the metropolitan city of Kolkata in India.
Indian life insurers may close down nearly 1,000 branches as digital sales platforms gain in prominence due to movement restrictions from the COVID-19 pandemic. There are currently 11,600 life insurance branches across the country.
Happy to reach a new milestone as the tenth episode of #MunchwithJenandBen aired with co-hosts Jensen Siaw, International Motivational Speaker, Benjamin Ang, Editor and Ken Kish, Owner of Munch Munch.
Edelweiss General Insurance (EGI), India's first cloud native insurer, has launched an innovative, app-based motor OD floater policy, called "Edelweiss SWITCH".
AM Best is maintaining a negative market segment outlook on India's non-life insurance sector due to various factors such as the sector's reliance on investment activities for profitability and the economic fallout from the COVID-19 pandemic.
The government may soon open the insurance sector to 74% foreign direct investment (FDI) under the approval route, in an initiative aimed at bringing more capital into the insurance business.
According to a study conducted by YouGov and ACI Worldwide, nearly half of Indian consumers are more worried about frauds while making digital transactions amid the coronavirus crisis and about 28% of consumers are now exercising more caution while making payments using various digital modes.
The Reserve Bank of India (RBI) has asked Housing Development Finance Corporation (HDFC) to reduce its stake in its insurance subsidiaries to 50% or below, says the mortgage lender in stock exchange filings.