Tag: India insurance industry

Insurance industry won’t hurt too much from Cyclone Phailin

Julie Campbell
south asian Insurance industry India

It is believed that the losses will be less than an estimated $1.6 million, possibly much less. On Saturday, Cyclone Phailin smashed its way through Odisha and Andhra Pradesh in India, following a massive evacuation of the area, leaving the world and the insurance industry to wonder what would be left behind. Officials are now saying that there may not be very large losses for insurers to have to face. According to those officials from the insurance industry, the largest amounts of destruction were sustained by “kuchcha houses” (which are…

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Insurance news looks good for the industry’s profitability

H. Cutner
Insurance News Profits

India’s insurers have fared quite well over the last quarter, even in the case of life products. The latest insurance news that has been released from India has shown that the industry has done better than expected in terms of its profitability, including the life sector, which had been experiencing a slowdown in its collection of new business premiums. The industry has been struggling under the widespread economic challenges and low penetration in the country. However, the most recent insurance news appears to be showing that the industry in the…

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Liability insurance demand is increasing in India

G. Turner

Companies are experiencing exponential increases in the number of lawsuits and need protection. In India, businesses are experiencing an increase in the number of lawsuits that are filed against them, at a rate of 30 to 40 percent per year, which has caused companies to flock to their insurers to purchase liability insurance. This has boosted demand in that sector at a staggering rate, with an estimated growth of 10 to 20 percent annually. Among the more popular forms of liability insurance that businesses are purchasing include credit, director and…

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Insurance news from India shows the bill has a chance of passing

Finance Minister of India, P. Chidambaram - Insurance News Headlines

Chidambaram has expressed his confidence about the success of the measure. Finance Minister of India, P. Chidambaram, has made insurance news by promising further reforms for the country and has expressed his confidence that the FDI bills for the insurance and pension industries will be passed by Parliament, in which he will soon hold an open dialogue with the country’s opposition parties. He did point out that there is still some debate and controversy over the topic. But at the same time, the Finance Minister feels that it will be…

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Insurance news from India could mean caps on foreign insurers will be lifted

Julie Campbell
insurance industry report

This move could be made in the hopes that it will give the country’s economy a boost. Manmohan Singh, the Prime Minister of India, is making insurance news around the world, in his latest efforts to create the largest opening in the Indian economy has seen in ten years, as the cabinet considers proposals for lifting the foreign investment caps for insurers as well as in the pension industry. The country’s ministers will be considering a large new opportunity for overseas insurers. Should the measure pass, it would make tremendous…

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