Top Indian Insurance Industry News & Updates - 26 March 2024,Tuesday

🏭 Industry

Ayushman Bharat sign up soars, 58 crore can get free treatment
Hyderabad: The acceptance of digital healthcare is fast catching up as seen in the rapid surge in registrations to the Ayushman Bharat Digital Mission (ABDM), the flagship healthcare initiative of the Centre.
Bima Sugam e-market, life cover surrender value, corporate governance norms among 8 regulations approved by IRDAI
Bima Sugam likely to reduce dependence on intermediaries for insurers
IRDAI clears new norms to boost governance
 
📝  IRDAI retains existing surrender value norms after pushback from industry
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🗎 Life Insurance

Will end FY24 with growth rate of over 30%: CEO Shriram Life Insurance

Shriram Life Insurance Company, a joint venture between Shriram Group and South Africa-based Sanlam Ltd., has set a target of increasing its rural penetration by 50 per cent in the next three years. Casparus JH Kromhout, managing director and chief executive officer, talks to Shine Jacob about its performance in FY24, rural market goals, and strategy for increasing penetration in Telangana, where it is the lead insurer.
 
A 140-year-old policy puts its stamp on India Post’s life insurance biz

New delhi : India’s purportedly dormant postal department has been alive and kicking successfully in an unexpected quarter—life insurance.
📝  LIC scheme: Deposit Rs 121 to get Rs 27 lakh, know details here
📝  Claim settlement ratio - a tool to pick the right insurer
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🗎 General Insurance

International student travel insurance premiums cheaper in India: Future-proof your overseas studies
Indian students going abroad for higher education should opt for an international student travel insurance for comprehensive protection. It provides coverage for unexpected situations, such as study interruptions, sponsor protection and is issued for a longer time period, unlike traditional travel policies that are issued for up to 180 days. They should purchase the policy from India as it is much more affordable than buying it abroad.
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🗎 Health Insurance

TVS Group enters booming Rs 1 lk-cr health insurance market with Galaxy
Competition is hotting up in the growing health insurance business. After Narayana Hrudayalaya, Chennai-based TVS group owned by Venu Srinivasan has forayed into the Rs one lakh crore health insurance business.
📝  Galaxy Health gets nod to launch health insurance business, IRDAI also okays setting up of insurance e-marketplace
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Insuretech

📝  Those serious about retirement aren’t attracted to NPS tax benefits: Santosh Agrawal, Policybazaar
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🗎 Pension Funds/PF

EPFO adds 16.02 lakh members in January; 8.08 lakh enrol for 1st time
 
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🗎 Mutual Funds / AMCs

Index Fund Investing: A passive approach to long-term wealth
In today’s complex investment landscape, index fund investing has surged in popularity as a simple and cost-effective method for accumulating long-term wealth. This article delves into the basics of index fund investing, tracing its evolution both globally and in India, while also shedding light on essential considerations before incorporating it into investment portfolios.
Journey of midcap, smallcap schemes: 6 years from the previous peak

Are they attracting more than their fair share of inflows? Will they be able to meet the redemption requests in case of a sudden fall in markets?
Buckle up for more volatility: UTI's Vetri Subramaniam
 
Shouldn’t have put initial savings in real estate: Sandeep Tandon
 
📝  Sebi’s stress test for mid- and small-cap mutual funds: Is liquidity more important than an MF’s mandate?
📝  Why the ongoing MF stress tests should not worry you
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🗎 Equities, Pvt. Equity / Hedge Funds

FPIs infuse over Rs 38,000 cr in equities in March so far amid strong domestic economic outlook
FPIs have shown a significant resurgence in their investment activity within the Indian equity markets this month, injecting over Rs 38,000 crore, mainly driven by favourable shifts in the global economic scenario and strong domestic macroeconomic outlook.
Managing risks smartly for better returns
After a relentless rally over the past few months, markets have turned volatile in recent weeks. The broader markets are especially raising concerns relating to elevated valuations. Market regulator SEBI’s push to mutual funds towards declaring stress test results on their holdings is also keeping investors on tenterhooks. With elections also set to commence from next month till June first week, markets may continue to be volatile for the foreseeable future.
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