Insurance Penetration News - Latest Updates & Headlines
LIC joins Sahaj Insurance Services to expand insurance access in rural India
New Delhi, Dec 26: The Life Insurance Corporation of India (LIC) on Friday announced collaboration with Sahaj Insurance Services Private Limited to strengthen insurance penetration across rural and semi urban areas of the country.
India's insured population jumps from 15 crore to nearly 40 crore in a decade: Report
New Delhi, Dec 22: The number of people covered by life insurance in India has risen sharply over the last decade, increasing from about 15 crore in FY15 to nearly 40 crore in FY25, largely due to the rapid expansion of group and credit-linked insurance products, a new report said on Monday.
Mahindra, Manulife to form 50:50 life insurance joint venture; M&M sees strong rural opportunity
Mumbai, November 13: Mahindra & Mahindra Ltd (M&M) has signed an agreement with global insurer Manulife to form a 50:50 life insurance joint venture in India, with both partners committing capital of up to Rs3,600 crore over 10 years.
Insurance for all by 2047 will be a reality: IRDAI Chief
New Delhi, Sep 17: The Insurance Regulatory and Development Authority of India (IRDAI) is confident that the vision of ‘Insurance for All by 2047’ -- part of the prime minister’s ‘Viksit Bharat 2047’ mission -- will become a reality, its chairman Ajay Seth said on Wednesday.
Life insurers post 6 pc rise in new business premiums in August
New Delhi, Sep 9: Indian life insurance companies reported steady growth in August, with new business premiums (NBPs) rising 6.01 per cent compared to the same month last year, a new report said on Tuesday.
GST exemption may hit insurers in short term, but long-term gains likely: Executives
New Delhi, September 4: Insurance companies are expected to face a setback in the short run following the GST Council's recent exemption on GST, as it could lead to the loss of input tax credit eligibility, said industry experts and executives, adding that the companies, however, will benefit in the long term.