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.

CCI imposes Rs 671 crore fine on four state-run insurers

Last Updated: Thursday, July 16, 2015, 20:11

Competition Commission has imposed a penalty of Rs 251.07 crore on New India Assurance, Rs 162.8 crore on National Insurance, Rs 156.62 crore on United India Insurance and Rs 100.56 crore on Oriental Insurance, respectively.

New India Assurance launches insurance products in Dubai

Last Updated: Thursday, May 21, 2015, 14:04

The New India Assurance Company Ltd has launched health insurance products catering to individuals and families in Dubai and Northern Emirates.

'Public sector insurance firms defeating govt's objectives'

Last Updated: Sunday, May 17, 2015, 09:22

The apex consumer commission has imposed a punitive cost of Rs 10 lakh on a public sector insurance company for wrongly denying claims of several people, saying such firms "are always at their best in defeating noble objectives of any welfare scheme".

Federal Bank ties up with New India for cheaper accident cover

Last Updated: Wednesday, May 6, 2015, 19:11

South-based private sector lender Federal Bank on Wednesday entered into a pact with state-run general insurer New India Assurance (NIA) for providing cheaper accident cover to its savings bank account holders.

New India to launch four new products in FY16

Last Updated: Friday, April 24, 2015, 19:10

State-owned New India Assurance is planning to launch four products - two each in the motor and health segments - during the current fiscal.

New India eyes Rs 18K cr total premium in 2015-16

Last Updated: Thursday, April 16, 2015, 22:38

India's largest non-life insurer New India Assurance has set the bar high as it aims to cross the Rs 18,000-crore mark in global premium.

BoI raises Rs 641 cr from share sale to LIC, New India Assurance

Last Updated: Friday, March 20, 2015, 15:26

Public sector lender Bank of India (BOI) on Friday said it has raised over Rs 641.99 crore by issuing shares on preferential basis to LIC and New India Assurance.

IBA, insurers to meet soon on new insurance, pension schemes

Last Updated: Friday, March 6, 2015, 14:38

The umbrella lobby group of the lenders, Indian Banks Association (IBA), is likely to convene a meeting with insurers shortly to discuss the implementation of the various insurance and pension schemes announced in the Budget.

BoI shares up over 4.5% on fund raising plan

Last Updated: Tuesday, February 10, 2015, 13:27

Shares of Bank of India (BoI) today rose by over 4.5 per cent after the company said it will raise up to Rs 641.99 crore by selling shares to Life Insurance Corp and New India Assurance to fund its business growth and meet global risk norms.

BoI to raise Rs 642cr by selling shares to LIC, New India

Last Updated: Monday, February 9, 2015, 18:27

The bank has called extraordinary general meeting of the shareholders on March 7, it said.

New India Assurance eyes 20% growth next year

Last Updated: Friday, December 27, 2013, 19:08

State-run New India Assurance is hoping for a healthy growth in 2014 on the back of better auto sales, uptick in investments and rural demand, a top company official said Friday.