The government is pushing for changes, including higher limits for the ombudsman, to enable insurance disputes to be resolved in a timely manner.
Life Insurance Corporation of India (LIC), India's largest insurance company, is moving towards limiting its debt and equity exposure to companies, according to an exclusive report by Reuters which quoted two sources.
Max Life Insurance Company has unveiled the findings of its first-ever rural edition of its flagship survey India Protection Quotient survey (IPQ) which indicate, among several things, that only 22% of India's rural population own life insurance products, compared to 73% across urban India.
A new survey conducted across 113 villages in India has found that only 22% of India's rural population owns life insurance products compared to 73% across urban India.
Bank of Baroda's 65%-subsidiary IndiaFirst Life Insurance has received approval from the Securities and Exchange Board of India's (SEBI) for an initial public offering (IPO).
About 400m people in India, roughly 30% of the country's population, are considered the "missing middle"-that is, underserved communities with insufficient health insurance protection.
Japan is ranked second in a new Swiss Re study on life and health insurance availability, accessibility and affordability (three 'A's). Japan's aggregate inclusion score is 0.66, behind the 0.67 score for the US.
For the first time, many non-life insurance companies have decided to link the pricing of fire insurance policies to the claims experience.
Less than 5% of Indian employers provide comprehensive insurance and benefits - including group medical cover, personal accident cover, term life and telehealth - to employees, according to a study by Plum, an employee health insurance platform.
Gallagher Re has appointed Mr Vinod Krishnan to lead its new treaty reinsurance team in India. It comes as an agreement to acquire the treaty reinsurance broking operations of WTW India was signed, with the transaction completion being subject to receipt of regulatory approval.