FinMin says no plan to take general insurance companies public

Last Updated: Sunday, August 30, 2015, 13:19

The new Insurance Act allows the government to disinvest its stake in five general insurance companies -- New India Assurance, United India Insurance, National Insurance, Oriental Insurance and sole reinsurer GIC Re.

PSU general insurers on promotion spree, elevates 21 DGMs to GMs

Last Updated: Sunday, August 9, 2015, 13:52

In their bid to take on rising competition, public sector general insurers have unveiled a succession planning by promoting their young officials to the post of general managers.

General insurers to challenge Rs 671 crore CCI penalty

Last Updated: Thursday, July 16, 2015, 23:13

State-owned non-life insurers are "surprised" at the Rs 671-crore penalty that fair trade watchdog CCI on Thursday slapped on them for allegedly forming a cartel and rigging the tender floated by Kerala government to select insurance provider for Rashtriya Swasthya Bima Yojna.

Insurers want sops to start catastrophe pool

Last Updated: Friday, May 29, 2015, 22:36

General insurers have urged the government to offer them some incentives for providing subsidised catastrophe cover to the poor under the proposed natural catastrophe pool.

PSU general insurers' market share dips marginally: IRDA

Last Updated: Thursday, January 2, 2014, 19:08

Meanwhile, market share of private sector insurers rose to 44.39 percent during the reporting period from 42.20 percent in FY12, the report said.

'Better pricing, reinsurance key to general insurance growth'

Last Updated: Sunday, December 1, 2013, 12:00

Though public sector general insurers are better capitalised to fund their future growth, industry officials feel adequate premium pricing and right reinsurance cover will enable the industry to chug ahead.

PSU insurers asked not to charge low premium on fire insurance

Last Updated: Sunday, August 26, 2012, 13:17

In a letter to the CMDs of four state-owned general insurance companies, the ministry said that the insurers are focusing on increasing business even at the cost of incurring losses.

Insurance employees seeks merger of four PSU firms

Last Updated: Saturday, June 16, 2012, 15:19

A section of insurance employees has demanded that four PSU general insurers -- National Insurance, Oriental Insurance, New India Assurance and United India Insurance -- be merged into one to bring down costs.

Finmin asks PSU general insurers to bring down expense ratio

Last Updated: Sunday, September 25, 2011, 14:16

The Finance Ministry has asked public sector general insurance companies to bring down their expense ratio and prune management expenses to improve profit.