ICICI Pru Life pays Rs 1,867 crore towards death claims in FY'24

Fixing mis-selling in life insurance
Mis-selling of life insurance policies through the bancassurance channel is today hitting media headlines more often than before. For instance, businessline dated October 31, 2023, reported that the Insurance Regulatory and Development Authority of India (IRDAI) had “formed a taskforce to look into various aspects of the bancassurance channel, including mis-selling.”

Take loan to avoid tax: a new loophole in insurance town
It's been a year since the tax advantage for high-premium traditional life insurance policies ceased to exist, leading to a decline in their appeal among high net-worth individuals (HNIs). However, the insurance industry has found a workaround. They're promoting the seemingly innocuous loan feature in these policies as a means to sidestep tax obligations on maturity proceeds.

Ageas Federal Life Insurance launches Cradle to Crease campaign featuring Sachin Tendulkar
Ageas Federal Life Insurance introduced its brand campaign film, ‘Cradle to Crease’, an initiative that drives home the message that while the future might be exciting, evolving and uncertain, by focusing on financial planning and investing in life insurance, one can face the future with optimism, hope and confidence.

ICICI Pru Life launches ULIP having fund value-based distributor payouts
According to the product specifications, customers have unlimited free switches between asset classes without any cost or tax implications.
 

HDFC Life announces the 'No Jhanjhat Life Insurance Fatafat' campaign
 

Know the secret tax benefits of life insurance policies
 

How much Cash Value for Life Insurance? The debate continues
Recently, the Insurance Regulatory and Development Authority of India (IRDA) declared that they won’t be changing the rules about surrender value for life insurance policies in the country. This decision came after some uncertainty when IRDA was thinking about increasing surrender values back in March.

New York Life Insurance to buy 49 per cent stake in two commercial projects of Max Estates
New York Life invests Rs 388 cr in Max Estates SPVs
The Financial Express

ICICI Prudential receives GST and penalty order of Rs 835 cr

ULIPs in favour of life insurers as markets sizzle

Bandhan Life unveils new brand identity; ensuring 'Bharat Ki Udaan, Bandhan Se'

Tata AIA unveils #VoteKarneKoTaiyaar social media campaign to motivate young Indians to vote
Tata AIA Life Insurance Co Ltd (Tata AIA), Tata AIA, an insurance company in India, has introduced a social media campaign titled #VoteKarneKoTaiyaar. 

Your money: Life insurance money can help the heirs pay off business liabilities
While life insurance is a must for basic financial protection of the poor as well as the middle-class, it is also essential for the upper-middle class and affluent Indians. Much of the wealth of the rich is locked up in physical assets and they own businesses which cannot be quickly converted into cash.

SBI Life Q4 Results: Net profit rises 4% YoY to Rs 811 crore

Loans bundled with insurance products by SFBs under scrutiny
Mumbai: As a first step to crack down on the mis-selling of insurance products, the banking and insurance regulators are questioning the need to forcefully bundle life insurance products with loans offered by small finance banks (SFBs).

Tata AIA Life achieves milestone of ₹1 lakh crore in AUM
Tata AIA Life Insurance (Tata AIA Life), a private life insurer, has crossed ₹ 1-lakh crore in Assets under Management (AUM).  It has doubled its AUM from ₹50,000 crore (Aug 2021) to ₹1,00,000 crore in less than three years. This increase has been aided by strong Individual New Business premium (IWNBP) income growth and superior investment performance.

Nippon Life Q4 profit jumps to Rs 343 crore

Shares of ICICI Prudential Life Insurance Company slumped by nearly 3 per cent

HDFC Life Insurance stock valuation needs a growth agent
HDFC Life Insurance Co. Ltd’s performance for fiscal year 2024 (FY24) was rather unins-piring. The reported total annual premium equivalent (APE) was flat year-on-year. However, after adjusting for a non-recurring premium income of ₹1,000 crore from the previous year due to Union Budget changes regarding the taxation of maturity proceeds, FY24 APE growth was nearly 8% year-on-year, reaching ₹13,290 crore.

LIC cautions public against misleading social media ads using brand name
LIC cautions public against misleading social media ads using its brand name, logo
The Indian Express

ICICI Prudential Life Q4 net dips 26 pc to Rs 174 cr
ICICI Prudential Life Insurance Company Q4 Results Live : profit falls by 26.18% YOY
mint

Tata AIA Life Insurance crosses Rs 1 lakh crore in assets under management

First-year premium of life insurers up 2 pc at ₹3,77,960 cr in FY24: IRDAI
Hyderabad: The first-year premium or new business premium of life insurers increased 2 per cent to ₹3,77,960 crore in the financial year ended March 31, 2024, compared with ₹3,70,543 crore in the previous financial year. As per the data of Insurance Regulatory and Development Authority of India (IRDAI), Life Insurance Corporation’s (LIC) first year premium declined 4 per cent to ₹2,22,522 crore against ₹2,31,899 crore in the previous financial year. It witnessed decrease in segments of individual single premium, individual non-single premium, group single premium and group non-single premium

ICICI Prudential Q4 Results: Net profit drops 26% YoY to Rs 174 crore, net premium income up 17%
Source Credit: Akash Podishetti, The Economic Times

Tata AIA Life Insurance crosses Rs 1 lakh crore in asset under management

Pramerica Life Insurance aims 30% CAGR in NBP in next five years
Pramerica Life Insurance, a private life insurer, is eyeing a compounded annual growth rate (CAGR) of 30 per cent in new business premium (NBP) income over the next five years, its MD and CEO Pankaj Gupta has said. The company, which is on a path of re-establishing and regrowing itself, expects to close the fiscal year ended March 2024 with NBP over ₹1,100 crore, a sharp rise over the recent years when annual NBP was just about ₹200 crore, Gupta told businessline in an interview.

Life insurers likely to rejig some existing policies after new surrender rules

Bandhan Life to hire 1,000 in new avatar

LIC’s total premium grows most among listed peers in March
New Delhi: State-owned Life Insurance Corporation of India (LIC) reported a 26.41 per cent increase in the total premium collected in March 2024 to Rs 36,300.62 crore compared to Rs 28,716.23 crore in the same month a year ago. LIC was followed by SBI Life Insurance Company in premium collection growth at 24.76 per cent. ICICI Prudential Life Insurance Company reported a 12.58 per cent growth. Another major insurer HDFC Life Insurance Company, however, reported a decline in premium collection at 20.05 per cent. As of March 2024, LIC commands a market share of 58.87 per cent based on premium collections, the state-owned insurer said quoting figures released by Life Insurance Council.