Blogs

News

Reforms Marked 2011 For Insurance Sector  Place : New Delhi   After a long wait and prolonged consultation with stakeholders, the Insurance Regulatory and Development Authority (Irda) finally came out with guidelines on initial public offers (IPOs) during the year. This development will see private insurers hitting capital market in the coming years.   The IPO notification...

The government has initiated a move to migrate the domestic general insurance companies into the Solvency II regime in a bid to strengthen the sector.   The move comes close on the heels of the RBI notification, announcing the banking sector's migration into Basel-III capital requirements. Solvency II prescribes the amount of capital that an insurer should hold to reduce the risk...

Lic Using Bancassurance Channel Poorly: Irda     Place : Mumbai   Despite having a tie-up with several large public sector banks, more than 150 brokers and top corporate agents to distribute its insurance policies, Life Insurance Corporation of India (LIC) has failed to use these channels effectively, and instead, relies largely on its agents to bring in business.   ...

Underwriting Losses Of Non-Life Insurers Up 68%     Place : Mumbai   Underwriting losses of non-life insurance companies galloped to Rs 9,969 crore in 2010-11, up from Rs 5,944 crore in the previous year. The financial year 2010-2011 witnessed a significant jump in underwriting losses at 67.72 per cent, compared with 11.64 per cent increase in 2009-10, statistics...

If Your Interests Are Not Long-Term, Don`t Get Into This Business   Amid a decline in growth in the life insurance business and mounting losses from the ever-expanding non-life portfolio, insurance companies recorded losses this year. Owing to the long-term nature of the insurance business, one doesn't expect a reversal in the trend overnight. Insurance companies would have to...