Reliance Life Insurance to have accounting profit this fiscal
Kolkata, Feb 7 : Reliance Life Insurance, a part of Reliance Capital, is expected to register its first year of accounting profit this financial year, a top executive of the company said Tuesday. Read Full Story

Reliance Life Insurance launches new product with innovative riders
Kolkata, Feb 7 : Reliance Life Insurance, a part of the Reliance Capital, today launched a new innovative product called 'Reliance Life Insurance Guaranteed Money Back Policy' with the provisions of a number of protection riders. Read Full Story
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Revamped health insurance scheme launched
Chennai, Jan 11 : Tamil Nadu Chief Minister J. Jayalalithaa Wednesday rolled out a revamped comprehensive health insurance scheme for the poor to benefit 1.34 crore families at an annual cost of Rs.750 crore. Read Full Story

Apollo Munich launches new flexi policy
Mumbai, Jan 11 : Apollo Munich, one of the leading health insurance companies, today launched a new flexi policy, 'Optima Restore', which is designed to meet the changing needs of customers and ever-rising medical costs. Read Full Story

Star Union Dai-chi Life launches product in Rajasthan
Jaipur, Jan 6 : Star Union Dai-chi Life (SUD Life)-- a joint venture of Bank of India, Union Bank of India and Dai-ichi Life Insurance, Japan,--today launched in the state its newest non-participating traditional endowment plan, Dhan Suraksha Platinum; a one of its kind insurance solution that targets at high net worth individuals and enables them to capitalise and benefit on their tax savings. Read Full Story

Insurance firms might find draft bancassurance guidelines difficult
Kolkata, Jan 3 : The draft guidelines on bancassurance by the Insurance Regulatory Development Authority (IRDA) may turn out to be difficult for a few insurance companies in the country, an official said Tuesday. Read Full Story

SUD Life launches high tax saving plan
Kolkata, Jan 3 : Star Union Dai-chi Life (SUD Life) on Tuesday announced the launch of its new non-participating traditional endowment plan, Dhan Suraksha Platinum, targeted at high net worth individuals enabling them to capitalize and benefit on their tax savings. Read Full Story

LIC outperform Private insurance co in claim settlement:IRDA
Mumbai, Dec 30 : The Insurance Regulatory and Development Authority (IRDA) has said the Life Insurance Corporation of India has performed better in terms of claim settlement ratios as compared to private life insurance companies. Read Full Story

IDBI Federal Life Insurance launches child ULIP plan
New Delhi, Dec 29 : Private insurer IDBI Federal Life Insurance today announced the launch of its child plan--IDBI Federal Childsurance Dreambuilder Insurance Plan-- which is unit linked insurance plan (ULIP). Read Full Story

HLL Lifecare launches herbal products
Kochi, Dec 22: Leading condom manufacturer HLL Lifecare Limited, a mini-ratna public sector unit, Thursday launched a herbal cream and oil in association with ayurvedic products firm Arya Vaidya Sala. Read Full Story

Edelweiss Tokio Life Insurance opens its 1st branch in Goa
Panaji, Dec 19 : Edelweiss Tokio Life Insurance Company Limited, a joint venture between Edwelweiss, one of India's leading diversified financial services group, and Japanese insurance major Tokio Morine Holding today announced launch of its first branch in Goa, strenthening its presence in western India to 12 branches spread across Mumbai and other key cities in Maharastra and Gujarat. Read Full Story

Insurance firm orders risk assessment survey of properties
Kolkata, Dec 16: In the wake of a devastating fire at the AMRI Hospital which claimed 93 lives a week ago, the National Insurance Company (NIC) Friday said it has ordered a risk assessment survey of properties insured for over Rs.1 billion to seek out users violating agreements with the insurance major. Read Full Story

Insurance cos shall penetrate in middle towns: IRDA
Kolkata, Dec 16 : A top official of Insurance Regulatory and Development Authority India (IRDA) on Friday said that the insurance companies should aim at penetrating deeper into the smaller towns and cities of India in the coming years to expand the growth of the industry. Read Full Story

LIC earns Rs 6,542 cr profit from stock market in April-Oct
New Delhi, Dec 16: India's largest insurer, Life Insurance Corporation, earned Rs 6,542.72 crore profit from investments of Rs 21,294.80 crore in stock market in the first seven months of the current financial year, government informed Parliament today. Read Full Story

Reliance launches 'Any Time Money' card
Chandigarh, Dec 14 : Giving retail consumers instant access to their mutual fund investments, Reliance Mutual Fund Wednesday launched the Reliance Any Time Money Card here. Read Full Story

Bancassurance gaining prominence: Study
Kolkata, Dec 13 : Insurance players are investing high effort in Agency channel recruitment, training and induction, according to a latest study. Read Full Story

Lapsed insurance policies on the rise
New Delhi, Dec 9: The total number of insurance policies that lapsed in the public and the private sector has been rising over the past three years, government informed Parliament today. Read Full Story

Kotak Life Insurance launches 'Kotak Invest Maxima'
New Delhi, Dec 8 : Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life Insurance) today announced the launch of Kotak Invest Maxima, an investment oriented Unit Linked Insurance Plan (ULIP). Read Full Story

Kotak Life Insurance launches new ULIP
Mumbai, Dec 8 : Kotak Life Insurance Limited, a Kotak Mahindra Group company, today announced the launch of Kotak Invest Maxima, an investment-oriented unit linked insurance plan (ULIP). Read Full Story

Oriental Insurance Company business to touch Rs 10,000 Cr
Tiruchirapali, Dec 8: The Nationalised Oriental Insurance Company Ltd (OIC) is expeced to touch an annual business of Rs 10,000 crores within next three years from the current fiscal as against Rs 5,500 crores during 2010-2011,according to OIC Chairman and Managing Director R K Kaul. Read Full Story

Experts demand rules for stake dilution in insurance firms
Chennai, Dec 5: The government should come out with rules such as setting a time frame for dilution of excess stake held by promoters of life insurance companies as many of these firms are about to complete 10 years in business, say experts. Read Full Story

Experts demand rules for stake dilution in insurance firms
Chennai, Dec 5 : The Indian government should come out with rules such as setting a time frame for the dilution of excess stakes held by promoters of life insurance companies as many of these firms are about to complete 10 years in business, say experts. Read Full Story

Total premium collection of Life Insurance industry down by 2pc
Bangalore, Nov 22 : A massive drop in new premium collection during the first six months of the current fiscal had dragged down the total premium collection of the Life Insurance industry by two per cent to Rs 1,22,661 crore from Rs 1,25,179 crore, according to Life Insurance Council. Read Full Story

Bajaj Allianz ties up with Gramin Bank
Kolkata, Nov 21 : Bajaj Allianz Insurance Company today entered into a strategic alliance with the 'Paschim Banga Gramin Bank' for distribution of their group life insurance products for the Gramin Bank customers. Read Full Story

Kotak Life Insurance launches Two Child Plans
Mumbai, Nov 21 : Kotak Life Insurance today announced the launch of two traditional (Non Unit Linked) child plans. Read Full Story

Future Genarali announces endowment plus money-back plan
Kolkata, Nov 16, : Future Generali India Life Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy, today announced the launch of an exclusive traditional endowment plus money-back plan, Future Generali Secure Income plan. Read Full Story

Future Generali launches Secure Income
Kolkata, Nov 16 : Future Generali India Life Insurance Company, the Insurance joint venture between Future Group of India and Generali Group of Italy, on Wednesday announced the launch of a traditional endowment plus money-back plan - Future Generali Secure Income plan. Read Full Story

Future Generali launches income plan
Hyderabad, Nov 14 : Future Generali India Life Insurance Company, the Insurance Joint Venture between Future Group of India and Generali Group of Italy today launched the exclusive traditional endowment plus money-back plan ''Future Generali Secure Income'' plan. Read Full Story

New head for insurer's lobby
Chennai, Nov 14 : Oriental Insurance Company Ltd's general manager A.K. Bhandari Monday took over as the new chief executive of public sector non-life insurer's lobby General Insurers' (Public Sector) Association of India (GIPSA). Read Full Story

United India Insurance targets Rs.8,000 crore premium
Chennai, Nov 10 : Logging an average business growth of 27 percent this fiscal, public sector non-life insurer United India Insurance Company Ltd Thursday said it is targeting a gross premium of Rs.8,000 crore and sizeable reduction in underwriting losses. Read Full Story

Max New York registers 8 pc growth
Mumbai, Nov 10 : Max New York Life Insurance, India's leading life insurance specialist, today registered 8 per cent growth in gross revenue at Rs 2,873 crore in the half yearly results for the year 2011-12. Read Full Story

SEBI approves Initial Public Offering norms for Life Insurance sector
Hyderabad, Nov 8: Insurance Regulatory Development Authority IRDA) Chairman J Hari Narayan today said the SEBI has approved the Initial Public Offering (IPO) norms for Life Insurance Companies. Read Full Story

Birla Sun Life AMC launches 'Khushaali ki Gaadi'
Mumbai, Nov 2: Birla Sun Life Asset Management Company Limited (BSLAMC), one of India's top four AMC's in terms of average Asset Under Management, has launched its unique investor education campaign christened 'Khushaali ki Gaadi'. Read Full Story

DLF Pramerica enters Himachal Pradesh
Shimla, Nov 2: DLF Pramerica Life Insurance (DPLI) Wednesday made a foray into Himachal Pradesh by opening its first branch office here, a company's official said here. Read Full Story

Reliance Life inducts Furuichi as Non-Executive Director
Mumbai, Oct 28 : Reliance Life Insurance today said its Board of Directors has inducted Takeshi Furuichi as a Non-Executive Director and Nippon nominee on the Board of the company. Read Full Story

IndiaFirst Life Insurance launches 'Money Balance Plan'
Chennai, Oct 25 : IndiaFirst Life Insurance, a joint venture between two of India's largest public sector banks-Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal and General, today announced the launch of its IndiaFirst Money Balance Plan. Read Full Story

Health Impetus to provide insurance coverage to cancer patients
New Delhi, Oct 21 : Health Impetus, a disease management partner to global pharmaceutical and life sciences companies, today announced that it will provide insurance coverage to the patients suffering from chronic diseases. Read Full Story

Rakesh Jain to head Reliance General Insurance
Mumbai, Oct 21 : The board of directors of private non-life insurer Reliance General Insurance Company Friday announced the appointment of Rakesh Jain as its new CEO and executive director. Read Full Story

Max Bupa bids for state health insurance in three states
Kolkata, Oct 17: Health insurance provider Max Bupa has bid for a product distribution tender under the Rashtriya Swasthya Bima Yojna (RSBY) scheme in three states, a top company official said Monday. Read Full Story

Max-Bupa hopes to double its health insurance business next year
Kolkata, Oct 17 : Max-Bupa, a new entrant in the country's hugely untapped health insurance sector, is currently in talks with the IRDA, the prime regulatory body in the insurance sector, for entering into the Bank-assurance business soon as part of a new strategy. Read Full Story

Royal Sundaram eyes Madurai as hub
Chennai, Oct 13 :Royal Sundaram Alliance Insurance Company Ltd, the first private sector General Insurance company to be licensed in India, has chosen Madurai as a significant hub in Tamil Nadu for growth of its business. Read Full Story

Life Healthcare to invest Rs. 516.5 Cr. in Max
New Delhi, Oct 12 : Life Healthcare (LHC), a USD 2 bln South African healthcare major, is set to invest Rs. 516.5 crore in Max Healthcare (MHC), one of India's leading private healthcare provider, at Rs. 50.55 per share for a 26pc stake, in an all cash transaction which puts the enterprise value of MHC at over Rs 2,300/- crore. Read Full Story

DPLI forays into Uttarakhand
Dehradun, Oct 11: DLF Pramerica Life Insurance Co Ltd (DPLI) today inaugurated its first branch office in the state capital, the business hub of Uttarakhand, where the company envisions an immense scope of business. Read Full Story

SUD Life launches Suraksha Kavach
Kolkata, Oct 7 : Star Union Dai-ichi Life Insurance (SUD Life) has introduced its latest participating endowment insurance plan, Suraksha Kavach, with an aim to strengthen and extend their existing portfolio. Read Full Story

Insurance regulator fines HDFC Standard Life for claims delay
Chennai, Oct 5: India's insurance regulator Wednesday imposed a fine of Rs.500,000 on Mumbai-based private life insurer HDFC Standard Life Insurance Company Ltd for not having in place effective procedures to comply with regulations and delaying settlement of a death claim. Read Full Story

Tata Mutual Fund Launches retirement specific Mutual Fund
New Delhi, Oct 4 : Tata Mutual Fund today announced the launch of India's first ever Retirement specific mutual fund scheme with auto switch facility. Read Full Story

Indian insurance firms to spend USD 1.8 dlr on IT in 2012: Gartner
New Delhi, Oct 4 : Indian insurance companies will spend 1.8 billion dollar on IT products and services in 2012, an increase of 11.7 per cent over 2011 revenue of 1.6 billion dollar, according to Gartner. Read Full Story

Mahindra enters Reinsurance Broking Business
Mumbai, Sept 28 : Mahindra Insurance Brokers Limited (MIBL), a 100pc subsidiary company of Mahindra and Mahindra Financial Services Limited (Mahindra Finance), has received approval from the Insurance Regulatory and Development Authority (IRDA) to enter the Reinsurance Broking business. Read Full Story

Bharti AXA launches 'Triple Benefit Critical Illness' Plan
Mumbai, Sept 23: Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, the world's largest insurance company, today forayed into the health insurance category, announcing launch of India's first triple benefit critical illness plan 'Bharti AXA Life Triple Health Insurance Plan. Read Full Story

Bharti AXA Life Insurance enters health category
New Delhi, Sep 22 : Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and AXA, today forayed into the health insurance category, with the launch of India's first triple benefit critical illness plan. Read Full Story

Insurance industry's income to grow to Rs 18 lakh crore by 2020
Mumbai, Sep 20 : The strong underlying demand is likely to push premium income of the Indian insurance industry to Rs 18 lakh crore by 2020, the apex chamber ASSOCHAM said today. Read Full Story

"India's life insurance industry among fastest growing "
Mumbai, Sept 19 : India will continue to be one of the fastest growing life insurance markets with annual gross written premiums of Rs 2.68 lakh crore set to grow by 13 to 14 per cent and reach Rs 5.17 lakh crore by 2015, industry body ASSOCHAM said on Monday. Read Full Story

Non-life insurance market to reach Rs 90,000 cr by 2015: ASSOCHAM
New Delhi, Sep 18 : Driven by strong underlying demand tailwinds, the non-life insurance industry is estimated to grow at over 18 per cent till 2015 and reach a total size of Rs 90,000 crore from the current level of Rs 47,000 crore, an ASSOCHAM study said today. Read Full Story

Reliance Capital gets IRDA nod for 26 per cent stake sale
Mumbai, Sep 14 : Anil Ambani Group's financial services arm, Reliance Capital, today said that it has received in-principle approval from insurance sector regulator Insurance Regulatory Development Authority (IRDA) for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life. Read Full Story

ICICI prudential launches two products
Mumbai, Sep 14 : ICICI Prudential Life Insurance Company Ltd (ICICI Prudential Life) today launched two new products namely ICICI Pru Elite Life and ICICI Pru Elite Wealth. Read Full Story

Peerless mutual fund introduces equity offering
Kolkata, Sep 7 : Peerless Funds Management Company, a subsidiary of the Peerless General Finance and Investment Company (PGFI), Wednesday launched its first equity offering targeting BSE-500 stocks. Read Full Story

South African fund shows interest in Indian insurance
Chennai, Sep 7 : South Africa-based private equity fund LeapFrog Investments wants to invest in Indian insurance companies as well as those serving the insurance sector. Read Full Story

Chola MS launches Partners Portal
Chennai, Sept 5 : Cholamandalam MS General Insurance Company Limited, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group Japan, on Monday announced the launch of the first-of-its kind Partners Portal in the General Insurance industry in India. Read Full Story

SBI Life introduces Hospital Cash
Kolkata, Sept 5 : SBI Life Insurance, India's largest new generation life insurer, has launched a health insurance plan - Hospital Cash. Read Full Story

SBI Life forays into health insurance biz; launches 'Hospital Cash'
New Delhi, Sep 5 : SBI Life Insurance today announced its foray into the health insurance business by launching a plan --Hospital Cash-- which provides a fixed daily allowance to policyholders for each day of hospitalisation. Read Full Story

LIC's net actuarial surplus upto Rs 22716 cr from Rs 20586 cr
Mumbai, Sep 2 : Life Insurance Corporation of India has shown a net actuarial surplus of Rs 22716 crore against Rs 20586 crore in the previous year. Read Full Story

HDFC Life awarded 'Innovation in CRM' Award 2011
Mumbai, Sep 2 : HDFC Life, India's leading private insurance player has won the prestigious Innovation in CRM award instituted by IDC Financial Insights at its inaugural Financial Insights Innovation Awards (FIIA) Insurance or FIIA (Insurance) held at the Asian Insurance Congress (AFS) in Singapore today. Read Full Story

Nippon signs MoU with Reliance capital
Mumbai, Sep 2 : Nippon Life Insurance Company has signed a Memorandum of Understanding (MoU) with Reliance Capital, with a view to further strengthening the business relationship between the two companies. Read Full Story

Max Bupa launches new health initiative
Mumbai, Aug 18: Max Bupa, a specialist health insurance company, today launched a unique health initiative aimed at creating awareness about the importance of being healthy at the ongoing Lakme Fashion Week here. Read Full Story

Max India registers Rs 70 cr profit in Q1FY12
New Delhi, Aug 12: Max India today announced a consolidated net profit of Rs 70 crore for the first quarter ended June 30. Read Full Story

LIC market share rises to 77 percent in 2010-11
New Delhi, Aug 12 : The market share of the government-run Life Insurance Corporation of India (LIC), in terms of number of policies in the country, rose to 76.92 percent in 2010-11 from 73.02 percent in the previous year. Read Full Story

Insurance cover for Indian painters soon
Kolkata, Aug 11 : The Indian Paint Association (IPA) in alliance with the Confederation of Indian Industry (CII) is working on a nationwide insurance programme for painters along with a skill development programme, a top IPA official said Thursday. Read Full Story

India allows foreigners to invest in domestic mutual funds
Mumbai, Aug 9: India Tuesday allowed foreign investors to participate in local mutual funds, allowing them to invest up to USD 10 billion and expanding the capital flow channels into equities markets. Read Full Story

IndiaFirst Life forays into health insurance
New Delhi, Aug 3 : IndiaFirst Life Insurance, a joint venture between Bank of Baroda and Andhra Bank and Britain-based Legal and General said Wednesday it was foraying into health insurance by launching a cashless policy valid in 4,956 hospitals. Read Full Story

IndiaFirst enters health insurance business; launches "money back " plan
New Delhi, Aug 3 : With a view to tapping huge opportunity lying in health insurance industry which is expected to grow by 25 per cent over next 4-5 years, IndiaFirst Life Insurance today entered the sector, the fastest growing among all non-life insurance segments in India, with the launch of its "money back" plan. Read Full Story

AEGON Religare Life Insurance launches online protection plan
New Delhi, Aug 2 : AEGON Religare Life Insurance today launched an online protection plan on a unit-linked platform, especially to target high networth individuals who are looking at protection of both life as well as their goals and aspirations. Read Full Story

Aegon Life Insurance launches Aegon i Maximize
Chennai, Jul 28:Aegon Religare Life Insurance today announced the launch of a new life Insurance product, Aegon iMaximize, an online protection plan on a unit-linked platform. Read Full Story

SBI Life Q1 net up 26 pc at Rs 144 cr
New Delhi, Jul 24: Private sector insurance firm SBI Life Insurance today reported a 26 per cent growth in its net profit at Rs 144 crore for the first quarter ended June 30, 2011. Read Full Story

Future Generali launches 2 products
Chennai, July 20 : Life and Non-life Insurance Major,Future Generali, today announced the launch of two new products-- 'Future Xpress and Future Xpress Plus'-- aimed at "simplifying the cumbersome, tiring and time consuming motor claim settlements processes." The new products would offer customers a more personalized service and enhanced touch points for smooth and speedy motor claims settlement, a top official today claimed. Read Full Story

Future Generali simplifies motor insurance
Chennai, July 20 : To simplify the process of a cumbersome, tiring and time consuming motor claim, Future Generali India Insurance Co Ltd on Wednesday launched Future Xpress and Future Xpress+. Read Full Story

ESIC insurance portal back to normal: Wipro
New Delhi, Jul 19 :Wipro Infotech, a division of the 7 billion dollar Wipro Ltd, today announced that Employees' State Insurance Corporation's (ESIC) insurance portal is "up and running in full swing and available for use to all stakeholders". Read Full Story

Better regulations for health insurance:FICCI suggests measures
New Delhi, Jul 17:FICCI's Health Insurance Advisory Group today offered a series of recommendations for standardisation of initiatives relating to various aspects of the policy to ensure better regulation. Read Full Story

LIC wins Readers' Digest Trusted Brand Award-2011
Mumbai, Jul 12: Life Insurance Corporation of India has won the Readers' Digest Trusted Brand Award -2011, Platinum Category, in the Insurance sector for the sixth year in a row. Read Full Story

Aviva, PSB launch roadshow to promote bancassurance
Dehradun, Jul 11 : After tremendous success of 'Khushiyan di Gaddi' in Punjab, Aviva Life Insurance today launched a series of financial literacy road shows across 31 villages in Uttarakhand with its bancassurance partner Punjab and Sind Bank (PSB). Read Full Story

ING Life Insurance partners with Zindagi Milegi Na Dobara
Mumbai, Jul 11 : ING Life Insurance announced itself as a brand partner to Bollywood's most awaited multi-starrer film, 'Zindagi Milegi Na Dobara' The company's latest TV Commercial communicates a key brand benefit, 'Manao Zindagi Ki Har Khushi, ING Life Insurance ke bharo sey ke saath', by using happy and fun-filled moments from the film. Read Full Story

IRDA fines SBI Life Insurance Rs.70 lakh
Chennai, July 9 : The Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs.70,00,000 on SBI Life Insurance company for paying around Rs.204 crore to eight of its corporate agents and six master policyholders, far in excess of the stipulated levels. Read Full Story

PNB to finalise life insurance joint venture
Chennai, July 6 : Public sector Punjab National Bank (PNB) is likely to firm up its life insurance foray by this September, said a top official here Wednesday. Read Full Story

SBI life launches flexi smart insurance
Mumbai, July 4: SBI Life, the leading new generation life insurer, has launched a variable non-participating insurance plan 'Flexi Smart Insurance'. Read Full Story

Bharti AXA Life Insurance launches Monthly Income Plan
New Delhi, Jul 4: Bharti AXA Life Insurance today announced the launch of a unique traditional participating money-back plan "Bharti AXA Life Monthly Income Plan". Read Full Story

Proposed new insurance norms may adversely impact mergers
By Venkatachari Jagannathan, Chennai, July 3 : India's insurance regulator may be attempting to override legal provisions while also seeking to prevent promoters from exiting ventures within 10 years of starting operations, experts feel. Read Full Story

Insurance firm asked to pay Rs.5 lakh for misleading consumer
Fatehgarh Sahib (Punjab), June 30 : A leading insurance company was Thursday ordered by a consumer forum in Punjab to pay back Rs.5 lakh to a customer for misleading him by not explaining the terms and conditions of his policy. Read Full Story

MetLife registers Rs 35.35 cr net profit for FY11
Mumbai, Jun 29: Private insurance major MetLife India Insurance Company Limited (MetLife) today announced that the company has posted a net profit of Rs 35.35 crore for the financial year ended March 2011, for the first time since it has launched operations in the country. Read Full Story

ICICI Lombard to hike diesel vehicles' insurance premium
Kolkata, June 27 : ICICI Lombard, a major private sector player in general insurance, will increase policy premium on diesel vehicles over petrol vehicles on an average by 15 percent, a company official said Monday. Read Full Story

IndiaFirst opens its Financial Planning Centre
Bangalore, June 23 : IndiaFirst Life Insurance, a joint venture of Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal and General, opened its Financial Planning Centre (FPC) here today. Read Full Story