Sunday, April 22, 2018

India

New India Assurance plans global expansion

New India Assurance plans global expansion

India’s largest non-life insurer aims to grow in Asia, North America and the Middle East.

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New India Assurance renews Air India cover for US$9.5bn

New India Assurance renews Air India cover for US$9.5bn

The bid to insure Air India’s 126-aircraft fleet will earn a premium of US$22.5 million.

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India’s life sector forecast to hit up to US$400bn by 2020

India’s life sector forecast to hit up to US$400bn by 2020

MetLife has said that India’s life insurance industry to grow between US$350-400bn by 2020.

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LIC to introduce India’s first unit-linked insurance plan

LIC to introduce India’s first unit-linked insurance plan

LIC has said that it plans to sell around 100,000 of the new policies within one month.

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Aviva mulls raising stake in Indian JV

Aviva mulls raising stake in Indian JV

British insurer Aviva has announced plans to raise its stake in its business in India from 26% to 49%.

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GIC Re, names K Sananth Kumar as acting GM

GIC Re, names K Sananth Kumar as acting GM

Industry veteran replaces Ashok Roy who retired at the end of July.

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Air India seeks bidders for US$9bn fleet insurance

Air India seeks bidders for US$9bn fleet insurance

Indian state flag carrier was faced with a 15% rise in premiums last year.

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India fines public-sector insurers for rigging bids

India fines public-sector insurers for rigging bids

The Competition Commission of India found four insurance firms guilty of rigging a tender in Kerala in 2009.

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India may remove foreign investment cap

India may remove foreign investment cap

India could relax rules as insurance broking is not a “capital-intensive business”, says government.

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Cancer insurance likely to become a key market in India

Cancer insurance likely to become a key market in India

Currently 75% of cancer patients in the country pay for their own treatment.

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India’s life insurance industry forecast to grow up to 15%

India’s life insurance industry forecast to grow up to 15%

Improved market scenario and government efforts to improve insurance penetration in the country, cited as factors.

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India to launch database to monitor insurance fraud

India to launch database to monitor insurance fraud

24 life insurance companies said to have joined the programme to detect and prevent fraudulent claims.

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State Bank of India to sell stakes in insurance subsidiaries

State Bank of India to sell stakes in insurance subsidiaries

SBI to sell a 10% and 23% stake in life insurance and general insurance subsidiaries to foreign partners.

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India’s general sector posts 12.3% growth in premium collections

India’s general sector posts 12.3% growth in premium collections

The majority of the premium growth came from the four state-run general insurers.

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Air India seeks insurers for US$9bn insurance cover

Air India seeks insurers for US$9bn insurance cover

State-owned and private insurance companies are expected to join in the aggressive bidding.

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India plans higher solvency requirement for health insurance players

India plans higher solvency requirement for health insurance players

Plans to raise the solvency margin to up to 200% for group health.

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Marsh contributes US$93m to India’s nuclear insurance pool

Marsh contributes US$93m to India’s nuclear insurance pool

Risk manager bridges funding gap, according to reports.

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German reinsurance giant Hannover mulls setting up India branch

German reinsurance giant Hannover mulls setting up India branch

Considers the possibility of setting up a branch in India as a reinsurer.

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