Tag: india insurance news

Life insurance policies are experiencing a lapsing trend

H. Cutner
india flag insurance industry

Insurers in India have been seeing an increase in the number of policies that have been allowed to lapse. Recent data released by the Insurance Regulatory and Development Authority (IRDA) in India has revealed that life insurance companies are experiencing a trend with an increase in policy lapses and forfeitures throughout the last financial year. This information was revealed within the authority’s annual report for the most recent fiscal year. Equally, the Life Insurance Corporation of India (LIC) a public sector insurer, revealed that it had experienced a lapse ratio…

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Insurance news from India International expands into Asia

International Insurance fund news

The insurer based in Singapore will be making its way into Malaysia and Vietnam. The latest insurance news announcement from the insurer based in Singapore called India International, has just been released and has revealed that it has intentions to broaden its operations in order to include Malaysia and Vietnam. The company is a joint venture of the five insurers owned by the state in India. The insurance news was announced by the director of India International Insurance (I.I.I.), N. S. R. Chandraprasad. The company was created in 1987 as…

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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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Latest India insurance news regarding Liberty Mutual joint venture

H. Cutner
International Insurance fund news

The Boston based insurer has received approval to begin selling its products. Liberty Mutual Insurance Group is making international insurance news now that it has received approval from India and is licensed to be able to sell its products within that country. The insurer has entered into a joint venture with Videocon Industries Ltd. This combined effort between Videocon Industries Ltd. and Liberty Mutual Insurance Group will be known as Liberty Videocon General Insurance Co. Ltd. It is now considered to be fully licensed from the primary regulatory authority in…

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India seeks alternatives to European maritime insurers as EU sanctions on Iran loom

S.Vagus

As the European Union prepares to impose sanctions on Iran and breaks its trade agreement with the nation, the maritime insurance industry is facing a bleak and complicated future. Insurers will not be the only ones to suffer from the move, however, as countries that depend on oil from the Middle East will also feel the impact of the action. Even countries that do not rely on Iranian oil are claiming that the EU’s actions will have a major effect on their economies. Such is the case in India, where…

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Indian Insurance Regulatory and Development Authority announces stricter sales site guidelines

Julie Campbell

The Insurance Regulatory and Development Authority (IRDA) in India has announced that it is issuing tighter guidelines for policy comparison sites that are also selling insurance products for multiple insurers through an affiliate relationship. Third party affiliate insurance comparison websites earn a commission from the associated insurance company every time they sell a product through their site. Until now, there have been neither any regulations as to the allowable size of the commission, nor any pre-requisites regarding the candidacy to enter into the business of an insurance affiliate website. The…

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