Rising inflation drives up health insurance premiums, increasing the cost of standardised healthcare.
The increasing cost of healthcare services has led to a rise in health insurance premiums. Medical inflation, which refers to the steady increase in costs related to health and healthcare services over time, is a major contributor to this trend. The main causes of medical inflation include advancements in medical science and technology, growing...
TATA AIG broadens its health insurance coverage to increase accessibility.
TATA AIG General Insurance has launched a new health insurance product, MediCare Select, as part of its expansion strategy in India's retail health segment. The company aims to strengthen its presence in non-metropolitan regions and diversify its health portfolio. The launch of MediCare Select is a key step towards achieving this goal, and the...
Zepto founders seek Rs 1,500 crore structured debt from Edelweiss, others to boost Indian ownership
The article is a disclaimer statement from StartupNews.fyi, a news outlet that covers startup companies and their investors. The purpose of the statement is to inform readers about potential conflicts of interest that may arise in their reporting. The outlet acknowledges that some of the investors they feature may have connections to other...
LIC ranked world’s third strongest insurance brand
The Life Insurance Corporation of India (LIC) has been ranked third among the world's strongest insurance brands, with a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report. Poland-based PZU secured the top spot, followed by China Life Insurance. In terms of overall brand value, LIC holds...
The Central Bureau of Investigation (CBI) has arrested a surveyor and an official of a Chandigarh-based general insurance firm for allegedly accepting bribes.
The Central Bureau of Investigation (CBI) has arrested two individuals, NS Sidhu, an insurance surveyor, and JK Mittal, a Regional Manager of New India Assurance Company, in Chandigarh, in a bribery case involving Rs 5 lakh. According to CBI officials, a case was registered against Sidhu, who allegedly demanded a bribe of Rs 12 lakh from a...
LIC Warns About Fake Apps, Urges Policyholders to Ensure Secure Transactions
The Life Insurance Corporation of India (LIC) has issued a warning to its policyholders about fake mobile applications that are misusing its name. The state-run insurer has advised customers to be cautious and only conduct transactions through its official platforms. LIC has identified instances of unauthorized mobile applications that falsely...
Bajaj Finserv may end partnership with Allianz by first half of CY25, potentially as early as March-end.
Bajaj Finserv is considering ending its partnership with Allianz, a German-based insurance company, as early as March 2025. The potential breakup comes after a long-standing joint venture between the two companies in the insurance sector. According to sources, Bajaj Finserv is likely to exit the joint venture, Bajaj Allianz General Insurance and...
LIC ranked world’s third strongest insurance brand
The Life Insurance Corporation of India (LIC) has been ranked third among the world's strongest insurance brands, with a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report. Poland-based PZU secured the top spot, followed by China Life Insurance. In terms of overall brand value, LIC holds...
LIC Warns About Fake Apps, Urges Policyholders to Ensure Secure Transactions
The Life Insurance Corporation of India (LIC) has issued a warning to its policyholders about fake mobile applications that are misusing its name. The state-run insurer has advised customers to be cautious and only conduct transactions through its official platforms. LIC has identified instances of unauthorized mobile applications that falsely...
Life insurance premiums increased by 5% in the financial year 2025.
The Indian life insurance industry has reported a 5.1% increase in new premium collection, reaching Rs 3.97 lakh crore in the financial year 2024-2025. This growth was largely driven by Life Insurance Corporation of India (LIC), which collected Rs 2.26 lakh crore in new business premium, including Rs 62,404.58 crore from individual new business....
Life insurers’ first-year premiums increased by 2% in March and 5.1% in the fiscal year 2025.
The life insurance industry in India has reported a 2% year-on-year increase in first-year premiums for the month of March, with total collections reaching ₹61,439 crore. This growth is a welcome relief after a weak February, which saw a 12% year-on-year decline in premiums. For the entire financial year 2024-25 (FY25), first-year premiums have...
Best LIC Investment 2025
The Life Insurance Corporation of India (LIC) has introduced the Jeevan Shiromani Policy, a premium insurance plan designed for high-net-worth individuals. This non-linked savings and protection plan offers a unique combination of guaranteed returns and critical illness benefits, making it an attractive option for those seeking a secure and...
LIC launches cutting-edge martech platform for modern customer interactions
The Life Insurance Corporation of India (LIC), the country's largest insurer, has launched its Marketing Technology (MarTech) platform, marking a significant milestone in its digital transformation initiative, Project DIVELIC. This launch marks LIC's first step towards becoming a global digital champion in the insurance industry, leveraging...
Mysore High Court Dismisses LIC Complaint
The District Consumer Disputes Redressal Commission in Mysore, Karnataka, ruled that an insured individual who takes out multiple insurance policies with different agents and uses various name variations, suggesting a pre-existing illness, must disclose this information to the insurer. The commission held that insurance contracts are based on the...
Star Health achieves highest sustainability score among Indian insurance companies
Star Health and Allied Insurance Company has achieved a significant milestone by securing the highest sustainability score among insurance companies in the Indian insurance sector. According to the S&P Global Corporate Sustainability Assessment, Star Health Insurance has been recognized as India's most sustainable insurance company for 2024. The...
Star Health becomes India’s largest Home Healthcare provider
Star Health & Allied Insurance Company, a leading health insurance provider in India, has achieved a significant milestone by expanding its Home Health Care (HHC) initiative to 100 locations across the country. Launched in July 2023, the program has made a significant impact, now serving over 85% of Star Health Insurance's customer base with...
Star Health faces a GST demand of Rs 49 crore across multiple states.
The Star Health and Allied Insurance Co Ltd has been served with 25 tax demand notices amounting to Rs 49 crore by the Goods and Services Tax (GST) authorities across multiple states. The demands are related to alleged violations of GST laws in connection with coinsurance transactions. The notices were received by the company from different GST...
Star Health and Allied Insurance Co Ltd received 25 tax demands totaling Rs 49 crore.
Star Health and Allied Insurance Co Ltd, a health insurance company, has received 25 tax demand orders from various Goods & Services Tax (GST) and Central Excise authorities. The total demand amounts to approximately Rs 49 crore, inclusive of penalties. The tax demands relate to alleged non-compliance with GST rules, specifically regarding...
Star Health Insurance awarded Best Health Insurance Company of the Year at InsureNext Global Conclave & Awards 2025.
Star Health and Allied Insurance Company Ltd., India's largest retail health insurance provider, has been recognized as the "Best Health Insurance Company of the Year" at the InsureNext Global Conclave & Awards 2025. This prestigious award is a testament to the company's mission to transform healthcare accessibility through innovation. Anand Roy,...
Toothlens Launches India’s First Cashless Dental OPD Insurance with Star Health.
Toothlens, in collaboration with Star Health, Allied Insurance Company, and Vizza Broking Services, has launched India's first cashless Dental OPD insurance program. This innovative initiative addresses the critical healthcare gap in India by providing individuals with cashless access to preventive and essential dental care, ensuring financial...
Star Health receives a Rs 49 crore Goods and Services Tax (GST) demand from tax authorities.
Star Health and Allied Insurance Company Limited has received 25 tax demand orders from the Goods and Services Tax (GST) authorities across various states, totaling Rs 49 crore, including penalties. These demands have been issued to the company's zonal offices in seven states, including Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana, and...
Techmagnate wins digital mandate for Aviva Life Insurance
Techmagnate, a digital marketing agency based in India, has been appointed to handle the digital mandate for Aviva Life Insurance Company India Limited, a joint venture between UK-based Aviva Plc. and Dabur Invest Corp. The agency will support Aviva Life Insurance in refining its digital strategy, improving online visibility, and enhancing...
One-eighth of car owners prefer fixing their vehicles over buying new ones, according to Aviva’s research.
According to a recent study by Aviva, one out of every eight car owners would rather repair their vehicle rather than replacing it, even if it's no longer a viable option economically. The research, which surveyed 1,000 car owners in the UK, found that 12.5% of respondents would opt for repair over replacement, despite the potential costs and...
Aviva paid out £1.89 billion in protection claims.
Aviva, a leading insurance company, has reported that it paid out more than £1.89 billion in individual and group protection claims in 2024. This includes over 62,000 claims, with 97.1% of individual claims received being paid. The majority of claims paid were on life policies, including terminal illness benefit, with 98.8% of claims being paid,...
Can weight loss jabs mean slimmer profits for Aviva, L&G, and other life and pensions companies?
The article discusses the potential impact of weight-loss jabs, also known as injectable treatments, on the profits of life and pensions companies such as Aviva and L&G. In recent years, there has been a significant increase in the demand for weight-loss treatments, with more people seeking non-surgical options to slim down. This trend has led to...
Bullerwell & Co’s client is thrilled to receive a £5,000 grant from the Aviva Broker Community Fund, benefitting the Bedford region.
Bullerwell & Co, a leading insurance brokerage firm, is thrilled to announce that one of its clients has won £5,000 in the Aviva Broker Community Fund. This prestigious award is a testament to the hard work and commitment of the client, who has demonstrated a strong sense of community spirit and dedication to making a positive impact in their...
Amanda Blanc, Chief Executive Officer of Aviva, discusses the UK pension scene and market volatility at 7:03 a.m. Eastern Daylight Time on March 19, 2025.
Ms. Amanda Blanc is a seasoned business executive and leader, currently serving as the Chief Executive Officer (CEO) and Executive Director at Aviva Plc. She has an impressive track record of holding prominent positions in the insurance industry, including CEO-EMEA at Zurich Insurance Group AG, CEO at AXA Insurance Designated Activity Co., and...
Aviva selects AutoRek’s automated reconciliation solution to streamline their operations
Aviva, a leading insurance, wealth, and retirement business in the UK, has chosen AutoRek, a leading provider of automated reconciliation solutions, to implement a seamless and compliant reconciliation and CASS (Client Assets, Responsibilities, and Securities) process. This collaboration aims to increase efficiency and compliance by automating...
Bajaj Finserv may end partnership with Allianz by first half of CY25, potentially as early as March-end.
Bajaj Finserv is considering ending its partnership with Allianz, a German-based insurance company, as early as March 2025. The potential breakup comes after a long-standing joint venture between the two companies in the insurance sector. According to sources, Bajaj Finserv is likely to exit the joint venture, Bajaj Allianz General Insurance and...
The Competition Commission of India (CCI) has given its approval for 360 ONE Fund’s acquisition of a stake in Bharti AXA Life Insurance.
The Competition Commission of India (CCI) has approved the acquisition of a stake in Bharti AXA Life Insurance by 360 ONE and Bharti Life Ventures. This move paves the way for the completion of the transaction, which was announced earlier. Bharti AXA Life Insurance is a joint venture between Bharti Enterprises and AXA, a French insurance company....
Bajaj Finserv has agreed to acquire a 26% stake in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance from Allianz.
Bajaj Finserv, a leading financial services conglomerate, has announced that it will acquire a 26% stake in its joint ventures with Allianz, Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited. The acquisition is expected to enhance the company's control and influence over the joint ventures, enabling...
Bajaj Finserv shares declined today following the announcement that Allianz will be exiting its joint venture with Bajaj Insurance for a whopping Rs 24,180 crore.
Bajaj Finserv shares took a hit on Tuesday, falling over 3% as the company's joint venture with Allianz, one of the world's largest insurance companies, came to an end. The French insurer has sold its 26% stake in Bajaj Allianz General Insurance Company Ltd, the Indian joint venture, to existing shareholders for a cash consideration of Rs 24,180...
Allianz sells majority stake in Bajaj Insurance, wraps up 24-year partnership in €2.6 billion deal.
Allianz, a leading global insurance company, has sold its 51% stake in Bajaj Allianz Life Insurance Company Ltd, its joint venture with Bajaj Finserv, to Bajaj Finserv for €2.6 billion. This move marks Allianz's exit from the Indian market after a successful 24-year partnership. Allianz and Bajaj Finserv formed a joint venture in 1996 to create...
Prudential plc and HCL Group are collaborating on a new health insurance joint venture.
UK-based Prudential Plc has announced a plan to establish a health insurance joint venture with India's HCL Group. The new business will have Prudential Group Holdings Limited, a UK subsidiary, holding a 70% stake, while Vama, an HCL Group company, will hold the remaining 30%. This move is part of Prudential's expansion in the Indian insurance...
The Bajaj Group has acquired complete ownership of the Bajaj Allianz Life and General Insurance entities, now making it 100% owner of these insurance companies.
Bajaj Group, a leading business conglomerate in India, has acquired a 100% stake in Bajaj Allianz Life Insurance Co. and Bajaz Allianz General Insurance Co. Ltd, its two joint venture insurance businesses in India. This move comes after Bajaj Group owned 74% stake in both companies, which was previously owned by Allianz SE, a German-based global...
New India Assurance and Aditya Birla Life Insurance’s Health Insurance Claim Settlements in Fiscal Year 2023
The Insurance Brokers Association of India has released data on health insurance claims paid by various insurance companies for the year ending March 2023. According to the data, New India Assurance Co. Ltd. ranked among the top players in terms of health claims paid, with an impressive 95% of claims paid. Aditya Birla Health Insurance came in...
The Board will make an announcement by the end of March regarding our acquisition of a significant stake in a leading health insurance company, with myself, as MD and CEO, overseeing the transaction.
Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year, according to Siddhartha Mohanty, the company's Managing Director and Chief Executive Officer. The decision is contingent on regulatory approvals, which are expected to be obtained by the end...
Will LIC Offer Health Insurance? The CEO Has Spoken
The Life Insurance Corporation of India (LIC) may acquire a stake in a health insurance company by the end of March, CEO Siddhartha Mohanty has revealed. While the CEO did not provide further details on the potential deal, he clarified that the company is not looking to take a majority stake. This marks a significant move for LIC, which currently...
A comprehensive insurance plan catering to expectant mothers: ‘PregnancyGuard’ – Providing tailored coverage for prenatal care, hospital stays, and newborn care, starting at $99 per month.
This article provides an overview of maternity insurance plans in India, which cover pregnancy-related expenses, including prenatal care, delivery, and postpartum care. The article highlights the importance of having maternity insurance, as these plans can help with the significant medical expenses associated with pregnancy and childbirth. The...
Aditya Birla Sun Life Insurance introduces the country’s first AI-powered digital billboard, revolutionizing outdoor marketing with its interactive display.
Platinum Outdoor, a unit of Madison World, has launched India's first-ever AI-powered, real-time, interactive digital billboard at Juhu Beach for Aditya Birla Sun Life Insurance. The campaign, part of the brand's #BoodheHokeKyaBanoge initiative, allows participants to upload selfies to see a glimpse of their future selves. What sets this campaign...
Aditya Birla Sun Life Insurance opens its inaugural all-female branch in Mulund, Mumbai.
Aditya Birla Sun Life Insurance, a joint venture between Aditya Birla Group and Sun Pharmaceuticals, has launched its first-ever all-women branch in Mulund, Mumbai. This new branch is specifically designed to cater to the unique needs of women, providing them with a dedicated and exclusive space to address their financial planning and insurance...
Consumer Court Rules in Favor of Policyholder, Orders Aditya Birla Health Insurance to Pay ₹69,000 in Compensation for Unjustified Claim Rejection
The District Consumer Disputes Redressal Commission-2 in Chandigarh has delivered a significant verdict against Aditya Birla Health Insurance, ordering the company to pay ₹69,228 to policyholder Sanjeev Rana. Rana had filed a complaint after his health insurance claim was unfairly denied, resulting in medical expenses of ₹54,228, as well as...
HDFC ERGO kicks off ‘Galat Raaste Pe Mat Jao’ road safety awareness campaign for National Road Safety Week.
HDFC ERGO General Insurance has launched a new campaign, #GalatRaastePeMatJao, to raise awareness about unsafe driving practices and promote responsible road usage during National Road Safety Week. The campaign aims to reach drivers across India and encourage them to rethink their unsafe actions behind the wheel. The initiative is a response to...
HDFC Ergo Launches Groundbreaking Cashless Claims Process for Post-Hospitalisation Expenses
HDFC Ergo, a leading non-life insurance company, is planning to introduce a cashless claims facility for post-hospitalization treatment. This move would make it one of the first non-life insurance companies to offer this service, which is not currently available in the industry. While some insurance companies provide reimbursement for...
Discover how you can enjoy the convenience of an Apple Watch at no additional cost with our exclusive HDFC Ergo plan.
HDFC Ergo and Zopper have collaborated to launch the "India Gets Moving" program, a unique initiative that encourages individuals to adopt a healthier lifestyle through technology and rewards. The program challenges participants to take 15,000 steps daily for a year, with a tempting reward: a free Apple Watch. To participate, customers must...
HDFC ERGO Ventures Launches ‘Drive Smart, Stay Safe’ Initiative to Promote Responsible Road Behavior
HDFC ERGO, a leading non-life insurance company in India, has launched a new initiative called "GalatRaastePeMatJao" to raise awareness about the risks associated with unsafe driving practices and promote responsible road usage. The campaign aims to educate individuals about the importance of not using mobile phones while driving, not exceeding...
HDFC Ergo Introduces a Cost-Effective Alternative to Its Best-Selling Optima Health Insurance Plan
HDFC Ergo General Insurance has launched Optima Lite, a more affordable health insurance plan with a base sum insured of Rs 5 and Rs 7.5 lakh. This new product is a variant of their flagship my:Optima Secure health insurance plan and offers a range of benefits including organ donor expenses, home hospitalization, and emergency ambulance services....
HDFC Ergo General Insurance has invited bids for its bond issue, according to sources.
HDFC Ergo General Insurance, an Indian insurance company, has accepted bids worth 3.25 billion rupees ($37.3 million) for subordinated bonds with a 10-year tenure. The bonds will offer an annual coupon of 8.20%. The issue will have a call option at the end of five years and every year thereafter. The company received bids from bankers and...
The HDFC Ergo Scheme is accused of manipulating step-count data, leaving participants uncertain about their cashback rewards.
HDFC Ergo, an insurance company, launched the "India Gets Moving" initiative in November 2024, in collaboration with Zopper and Apple, to promote healthy habits by incentivizing customers to buy Apple Watches and track their daily step count. The initiative promised to return the cost of the Apple Watch to customers who achieved a minimum daily...
ICICI Lombard secures a Rs 175 crore tax reprieve from the Income Tax Department.
ICICI Lombard General Insurance, a leading general insurance company, has reported a significant increase in its net profit for the quarter ended September 30, 2024. The company's net profit for the period rose by 20% to Rs 693.95 crore, compared to Rs 577.25 crore in the same period last year. The insurer's gross direct premium income, which is...
ICICI Lombard’s #GameOfLife inducted into the Impact’s Hall of Fame.
ICICI Lombard, a leading general insurance company in India, is proud to announce that its innovative "Game of Life" campaign has been featured in Impact's "Hall of Fame" - Top 50 Ads of 2024. This prestigious recognition celebrates the most impactful campaigns across industries, with ICICI Lombard being one of the few BFSI (Banking, Financial...
ICICI Lombard anticipates a steady capital base in the medium term.
ICICI Lombard General Insurance Company Limited, a leading insurance firm, has been recognized by AM Best, a credit rating agency, for its strong financial performance and risk-adjusted capitalization. The company's risk-adjusted capitalization is expected to remain at the strongest level in the medium term, backed by its financial flexibility...
ICICI Lombard Unveils AI-Powered Anthem for TripSecure+, Its Revolutionary Travel Insurance Solution
ICICI Lombard has launched an AI-generated anthem for its travel insurance solution, TripSecure+, which is being played on RadioOne and on the company's social and digital platforms until March 31. This innovative move marks a new direction in the insurance industry, aiming to make insurance more immersive, relatable, and engaging for modern...
ICICI Lombard’s Caring Hands illuminates a brighter future for the young generation of India
ICICI Lombard's Caring Hands CSR initiative has launched a new campaign to highlight the often-overlooked issue of vision problems affecting millions of schoolchildren in India. The campaign, which is a 100% employee volunteering initiative, aims to raise awareness and encourage solutions to improve children's sight and future prospects. A...
ICICI Lombard hit with ₹273-crore tax demand for settling motor insurance claims under GST.
ICICI Lombard General Insurance Company Limited has received a tax demand of ₹273,44,50,284 from the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate. The order relates to an industry-wide issue regarding the applicability of Goods and Services Tax (GST) on salvage and ineligible Input Tax Credit (ITC) on motor claims...