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.

Pension biz of life insurers plunges 90% to Rs 2k cr in FY15

Last Updated: Sunday, August 23, 2015, 15:02

The pension business of life insurance players is down to a meagre Rs 2,000 crore in 2014-15, from Rs 20,000 crore in 2009-10.

Blast in China: This is what Insurance Companies might need to shell out!

Last Updated: Tuesday, August 18, 2015, 15:37

Chinese insurers across numerous sectors -- property, casualty and life -- will be impacted by the blasts, Credit Suisse analysts wrote in a research note.

Probe against 16 insurers in Rs 2,500-cr CENVAT credit case

Last Updated: Monday, August 10, 2015, 22:49

Under the CENVAT credit scheme, a manufacturer or a service provider can avail credit of excise duty paid on inputs.

Govt plans 'Suraksha Bandhan' drive to push social security

Last Updated: Sunday, August 9, 2015, 14:38

Seeking to tap 'Raksha Bandhan' festival, the government plans to launch a 'Suraksha Bandhan' drive to push its flagship social security plans through innovative schemes like gift cheques and special deposits.

Life insurance market clocks 20% growth in first quarter

Last Updated: Sunday, July 19, 2015, 18:03

After witnessing de-growth since 2010, the life insurance industry rebounded in the first quarter of the fiscal recording a robust 20 percent growth in new premium income.

CCI clears AXA raising stake in insurance JVs with Bharti

Last Updated: Thursday, May 28, 2015, 13:41

AXA is the first foreign partner to increase its stake in a domestic insurance company after the government had approved up to 49 percent FDI in insurance sector in March, compared to 26 percent earlier.

Low interest rates make saving nearly mission impossible

Last Updated: Sunday, May 17, 2015, 12:23

While borrowers rejoice at the ultra low and even negative interest rates in Europe, savers fret and life insurance companies and pension funds face what is virtually a mission impossible.

AXA wins India approval to raise stake in Bharti insurance JVs

Last Updated: Wednesday, May 6, 2015, 12:19

Europe`s second biggest insurer AXA has won the Indian government`s approval to raise its stake in two local insurance joint ventures with Bharti Enterprises to 49 percent, a government statement showed.

Govt revamps selection norm for non-official directors in PSBs

Last Updated: Wednesday, April 1, 2015, 21:15

To ensure efficient management of PSU banks and insurance companies, the government has revamped the procedure for appointment of non-official directors and will invite online applications from candidates.

Insurers eye billions of dollars as Par clears Bill

Last Updated: Thursday, March 12, 2015, 22:38

Within minutes of Parliament approving higher foreign investment in insurance sector, a number of insurers including from Bharti, Reliance, Max and SBI groups said their overseas partners will raise their stakes in respective JVs to 49 percent.

Mediclaims should be settled by insurance co and not TPAs: HC

Last Updated: Thursday, March 5, 2015, 20:54

The Bombay High Court Thursday asked the Insurance Regulatory and Development Authority to ensure that insurance companies did not involve Third Party Administrators (TPA) in the claim settlement.