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Insurance regulator Irdai has allowed distribution of all micro-insurance products through point-of-sales (PoS), with an aim further increase insurance penetration in country. Insurance Regulatory and Development Authority of India (Irdai) has created a special category of insurance policies called micro-insurance policies to promote insurance coverage among economically vulnerable sections of society. A micro-insurance policy is […]

LIC Housing Finance (LIC HFL) has made an investment of over Rs.150 crore in Karda Constructions’ portfolio of realty projects. The realty portfolio is of nearly a million square feet development across residential and commercial projects in Nashik, Maharashtra.The real estate projects are being executed by Shree Sainath Land & Developers (India). Investment has been […]

Hero Enterprise has received license to enter insurance broking business to sell both life and general insurance products. After new license, insurance business of Sunil Kant Munjal-promoted Hero Enterprise, currently carried out by Hero Corporate will migrate to Hero Broking. Hero currently offers its general insurance services to the manufacturing, hospitality, education, health, travel and […]

Indian insurance industry is expected to grow to USD 280 billion by 2019-20 aided by the government’s flagship Ayushman Bharat and increasing awareness about need for protection, according to an Assocham-APAS study. Insurance penetration in the country reached 3.7 per cent in 2017 from 2.71 per cent in 2001. Gross premium increased from Rs 3.2 […]

Manipal Group will be acquiring a 16% stake in healthcare insurance provider Cigna TTK Health Insurance Co. Ltd for an undisclosed amount, the firms announced in a joint statement on Monday. Deal marks Manipal’s entry into the insurance business and is expected to help Cigna TTK to expand its distribution network, leveraging the customer base […]

A longer tenure and upfront payment of the premium would save buyers the trouble of annual renewals but would proportionately raise the initial outgo on new vehicles, pushing up the on-road prices. New motor insurance regulations to take effect from Saturday would, fear officials at automobile companies, impel those wishing to buy cars or two-wheelers […]

Founded in 1996, Star Health was the country’s first standalone insurance company and claims to be the largest such domestic firm. Safecrop Holdings Pvt.Ltd., a consortium of investors, including WestBridge AIF, Rakesh Jhunjhunwala and Madison Capital has signed a definitive agreement with the shareholders of Chennai-based Star Health & Allied Insurance Company Ltd to acquire […]

In order to boost highway building in the country, the Life Insurance Corporation (LIC) is all set to extend credit lines of up to ?8,000 crore this fiscal to modernize the outdated transportation infrastructure across the country. In this connection, LIC has subscribed to Rs.4,200 crore worth of bonds (30-year maturities) sold by the National […]

State-run Life Insurance Corporation may need to pay a premium for IDBI Bank’s real estate and non-core assets. IDBI Bank has started valuing its assets before making a preferential issue of shares to LIC, which is set to acquire a majority stake in the lender. The valuation exercise is expected to be completed by August […]