Ahead of Bima Vistaar rollout, IRDAI issues guidelines on Bima Vahaks
The Insurance Regulatory and Development Authority of India (IRDAI) Monday issued guidelines on Bima Vahaks, the women-centric, dedicated distribution channel for enhancing insurance inclusion with a focus on rural areas.

Insurance companies 'disregarding' guidelines issued by regulator: AHPI
The Association of Healthcare Providers India (AHPI) has accused insurance companies of "unfairly" rejecting claims by patients and blatantly disregarding guidelines laid down by the Insurance Regulatory and Development Authority of India. The AHPI, which is a collective of hospitals and other healthcare providers, contended that private insurance companies have formed an "alarming cartel".

Flood-hit Sikkim Urja looks to claim ₹11,400 cr cover

Mumbai: Sikkim Urja has initiated the process of claiming damages resulting from a cloudburst-induced flash flood that impacted the 1,200 MW Teesta III hydropower project. The company has communicated with the lead insurer of the project, IFFCO Tokio General Insurance, regarding the incident.

Free to raise commissions, insurers push annuity plans

Mumbai: Insurance companies, traditionally focused on conventional savings insurance products and unit-linked plans (ULIPs), are now pushing the sale of long-term annuities.

ULIP sales may help insurers post strong premium growth in Q2

Insurance companies are set to shrug off their tepid first-quarter performance and report strong premium growth in the three months through September, as a strong equity market propelled sale of unit-linked insurance plans. While new business growth is expected to be robust for Max Life Insurance and HDFC Life, it could remain static for state-owned Life Insurance Corporation of India.

FTX used Python code to fake its insurance fund figure: Co-founder
 

LIC's market share drops to 59% till September from 68.7% in a year
Source Credit: Aathira Varier, Business Standard

Mumbai: The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 a drop of 975 basis points owing to shortcomings in the product and distribution side of business.

Gross premium income of non-life insurers grows in double-digits in Q2, standalone health players improve share in H1
With a 29 per cent increase in September, combined gross direct premium underwritten for general insurance companies reported double-digit growth during the second quarter of this fiscal both sequentially and year-on-year. The gross direct premium for all non-life companies during this September quarter stood at ₹79,537 crore when compared with ₹70,708 crore in the year-ago period, posting an increase of 12.5 per cent. However, the growth is higher at 24 per cent when compared with the preceding quarter’s premium of ₹64,263 crore. 

Star Health & Allied Insurance receives Rs 39-crore tax demand notice
Star Health and Allied Insurance received show cause notice of Rs 39 crore on Monday from the Directorate General (DG) of GST Intelligence Mumbai.

Star Health Insurance introduces surrogacy cover and oocyte donor cover
 

Small-cap funds broaden their stock holdings to spread risk
 

WhiteOak MF not to accept lump sums in multicap fund
 

​Hinduja in talks with private debt funds for about $800 million
Indian conglomerate Hinduja Group is in talks with private credit funds to raise about $800 million to back the acquisition of Reliance Capital, according to people familiar with the matter, who asked not to be identified because the matter is private.

FPIs continue to exit Indian market in October amid rising bond yields and dollar index
Foreign portfolio investors (FPIs) continued their selling trend for the second consecutive month in October, pulling out ₹8,000 crore from Indian equities. This persistent selling can be attributed to several factors, including the consistent strengthening of the US dollar index and the gradual increase in US bond yields. Additionally, the surge in crude oil prices also weighed on FPI selling.

G-Sec yields continue to rise on OMO-sales fear
Government securities (G-Secs) yields hardened further on Monday, with 10-year benchmark’s yield rising about 5 basis points, amid market speculation that the Reserve Bank of India may conduct open market operation (OMO) involving sale of G-Secs this week to not only to manage liquidity but also manage yields.

Green bond issues to pick up, SBI working on matrix for ESG credits
Even though the cost of green bonds continues to be high in India, the issuances of such bonds are expected to pick up in the remainder of the current financial year following the announcement of the government’;s borrowing plan, according to SBI Chairman Dinesh Kumar Khara.

BoB plans to raise up to Rs 10,000 cr via infra bonds

Mumbai: Bank of Baroda may raise up to ₹10,000 crore through the issuance of infrastructure bonds as the state-owned lender looks to garner long-term capital amid firm demand for credit.