Trading in shares of Life Insurance Corporation of India (LIC) opened and closed yesterday at prices below the company's IPO price.
The IRDAI is allowing general insurers to design new and customised products for fire and allied perils related to dwellings, micro and small enterprises, in its bid to increase insurance penetration and provide a wider choice to policyholders.
While health insurance premiums totalling INR585.72bn ($7.56bn) were collected by insurers in the financial year ended 31 March 2021 (FY2021), the figure jumped by 25% to INR73.33bn in FY2022, according to a paper prepared by the National Insurance Academy under the Finance Ministry.
Residents in Tier-2 and 3 cities in India show a growing propensity to buy insurance, according to an online survey by Policybazaar, one of India's largest online insurance marketplaces.
The life insurance business in India will face some pressure in the current fiscal year ending 31 March 2023 (FY23), owing to a combination of factors like a reversing interest-rate cycle, volatility in the stock markets, high inflation and the return of postponed discretionary consumption hitting middle-class savings, says financial advisory firm Emkay Global Financial Services.
The initial public offering (IPO) of India's biggest life insurer LIC was subscribed by 2.95 times by the final day of bidding yesterday.
The initial public offering (IPO) of the country's largest life insurance company Life Insurance Corporation of India (LIC) has subscribed 1.79 times at the end of May 8, the fifth day of bidding.
The IPO of state-owned insurance giant LIC was subscribed 1.79 times (excluding anchor investors) by the close of yesterday as bidding had remained open over the weekend.
The initial public offering (IPO) of India's largest life insurance company Life Insurance Corporation (LIC) was more than 100% subscribed yesterday, that was the second day of the launch of the fundraising exercise.
Private non-life insurer HDFC ERGO has launched the country's first 'pay as you drive' programme, insurance that offers distance-based insurance under the own damage section to help reduce upfront insurance costs.