Edelweiss Financial Services Ltd. is set to raise ₹2,000 million through the issuance of Non-Convertible Debentures (NCDs).
Edelweiss Financial Services Limited has announced a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) worth up to ₹2,000 million. The issue will open on April 8, 2025, and close on April 24, 2025. The NCDs will have a face value of ₹1,000 each and will be offered in twelve different series with varying tenures, including 24 months, 36 months, 60 months, and 120 months. The interest rates on the NCDs will range from 9.50% per annum to 11.00% per annum, with options for...
Care Health stops claim settlements at 12 Max hospitals in Delhi-NCR
Care Health Insurance has temporarily suspended cashless claim settlements at 12 Max hospitals in Delhi-NCR, effective February 17, 2025. This means that patients will no longer be able to receive cashless treatment at these hospitals, and instead will have to pay out of pocket and then seek reimbursement from the insurance company. The affected hospitals include eight super-specialty hospitals, two multi-specialty centers, a hospital in Gurugram, and a cancer care center in Lajpat Nagar,...
HDFC Life has been recognized as the ‘Next Leader’ on the Indian Corporate Governance Scorecard for 2024, as reported by ThePrint and ANI Press Releases.
HDFC Life, one of India's leading life insurance companies, has been recognized as a "Next Leader" in corporate governance by Institutional Investor Advisory Services (IiAS) as of December 31, 2024. This recognition is a testament to the company's commitment to transparency, accountability, and exemplary governance practices. HDFC Life has been featured in this prestigious list for the fourth consecutive year, which assesses the BSE 100 companies based on the Indian Corporate Governance...
Star Health Insurance has now expanded its home healthcare service to 100 locations.
Star Health and Allied Insurance Company Ltd, a leading standalone health insurer, has announced the expansion of its Home Health Care initiative to 100 locations across India. Launched in July 2023, this program provides cashless doorstep medical care services to 85% of the company's customer base. The initiative aims to make healthcare more accessible and affordable, addressing concerns such as high hospitalization costs, logistical challenges, and the stress associated with seeking medical...
Tata AIA Life’s Smart Pension Secure Plan is redefining the concept of retirement for the modern Indian, offering a secure and fulfilling post-work life.
Tata AIA Life's Smart Pension Secure Plan is a comprehensive retirement solution designed to meet the evolving needs of modern Indians. In today's fast-paced and unpredictable world, retirement planning has become a pressing concern for many individuals. The plan aims to provide a secure and stable financial foundation for retirement, allowing individuals to maintain their lifestyle and pursue their passions without worrying about financial constraints. The Smart Pension Secure Plan offers a...
India’s bond market rally is expected to gain further momentum on the back of deeper easing, according to ICICI Prulife, as reported by Bloomberg.com.
The Indian bond market is expected to experience a rally due to deeper easing measures, according to ICICI Prulife. The Reserve Bank of India (RBI) has announced plans to inject liquidity into the market through Open Market Operations (OMO) purchases, which will help ease bond yields. The RBI will infuse Rs 1.25 trillion worth of liquidity via bond purchases, a move that is expected to have a positive impact on bond yields and banks. The liquidity injection is aimed at addressing the liquidity...
ICICI Prudential Life Insurance has emerged as the leader in Hansa Research’s Customer Excellence Study (CuES) 2025.
The life insurance industry in India has witnessed significant progress in 2025, with several brands improving their customer experience, according to the Hansa Research's Life Insurance CuES 2025 study. ICICI Prudential Life Insurance has emerged as a frontrunner, followed closely by Axis Max Life Insurance. The study, which tracks the experience, perceptions, attitudes, and behavior of consumers in India, has captured feedback from over 3,600 customers across 13 life insurance brands. The...
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 demand for healthcare services, rising labor costs, chronic diseases, and pharmaceutical costs. As a result of medical inflation, health insurance...
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 company plans to increase its hospital network from 11,500 to over 14,000 by the end of fiscal year 2027. MediCare Select is designed to respond to...
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 businesses, including competitors or companies they write about. However, they assure their readers that these connections will not compromise the integrity...
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 12th position, while SBI Life ranks 76th, making them the only two Indian insurers in the top 100. The report notes that the top 100 insurance...
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 complainant to expedite the release of an insurance claim for his factory, which had caught fire in 2010. The bribe was also intended to prevent an appeal...
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 claim to be associated with the corporation, and has urged customers to verify the authenticity of any application before making transactions. To avoid...
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 Bajaj Allianz Life Insurance, in the first half of the calendar year 2025. The decision to part ways is reportedly driven by Bajaj Finserv's desire to...
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 customer interaction. The mandate was awarded after a multi-agency pitch, which showcases Techmagnate's expertise in the financial services sector. Sarvesh...
Niva Bupa has appointed Sridhar Srinivasan as an Independent Director.
EdgePoint Towers Sdn Bhd, a subsidiary of EdgePoint Infrastructure, a prominent ASEAN-based telecommunications infrastructure company, has achieved a significant milestone in its renewable energy endeavors with the successful launch of its first solar hybrid site. This noteworthy deployment marks a substantial step towards promoting sustainable energy solutions in Malaysia's telecommunications sector. The innovative solution has the capacity to provide up to 100% of the energy required to...
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. The insurance company offers a range of life insurance products, including term insurance, health insurance, and investment plans. 360 ONE is a...
The Reserve Bank of India (RBI) has lifted restrictions on two Edelweiss Group companies, ECL Finance and Edelweiss Asset Reconstruction Company Limited (EARCL).
The Reserve Bank of India (RBI) has lifted the restrictions imposed on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited, both part of the Edelweiss Group, after the companies implemented remedial measures to address the concerns raised by the RBI. In May 2024, the RBI had imposed business restrictions on the two companies for violating regulatory norms. The restrictions were put in place due to "material concerns" arising from the conduct of the group entities, which were...
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 company achieved a score of 53, which is based on its robust Environmental, Social, and Governance (ESG) parameters. This achievement highlights Star...
From Tycoon to Bankrupt: The Fall of Fortis and Religare Promoter Shivinder Mohan Singh
Shivinder Mohan Singh, the former co-owner of pharmaceutical giant Ranbaxy Laboratories, has filed for personal insolvency with the National Company Law Tribunal (NCLT) in an attempt to seek relief under the Insolvency and Bankruptcy Code (IBC). The move comes after a long-standing legal battle with Japanese firm Daiichi Sankyo, which accused the Singh brothers of concealing critical regulatory issues related to Ranbaxy's dealings with the US FDA and Department of Justice. The dispute began in...
Niva Bupa Health Insurance has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the reappointment of Krishnan Ramachandran as its Chief Executive Officer (CEO).
The Insurance Regulatory and Development Authority of India (IRDAI) has given its approval for the reappointment of Krishnan Ramachandran as the Chief Executive Officer (CEO) and Managing Director of Niva Bupa Health Insurance Ltd. This decision was made public through an exchange filing on Wednesday. As per the approval, Ramachandran's tenure will be for a period of five years, commencing from May 1, 2025, and concluding on April 30, 2030. Prior to this approval, the board of directors of...
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. The individual new business premium saw an 11% increase, rising to Rs 1.66 lakh crore from Rs 1.49 lakh crore in the previous year. The industry's...
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 increased by 5.1% year-on-year. Among private insurers, ICICI Prudential Life Insurance has reported an impressive 18% rise in March premiums, with its...
HDFC Life and Policybazaar Launch New Term Insurance Plan
Policybazaar, a popular online insurance marketplace, has partnered with HDFC Life to offer a new term insurance product called "HDFC Life Click 2 Protect Ultimate". This policy offers 100% claim assurance, which is a unique feature in the insurance industry. The plan includes a return of premium on maturity, a terminal illness benefit, and a smart exit option that allows policyholders to receive their entire premium back, excluding taxes, if they choose to exit the policy. The policy is...
Timely Settlement of Insurance Claims Brings Relief to Families of J&K Bank Customers
The article discusses the quick settlement of insurance claims by the Jammu and Kashmir Bank, bringing relief to the families of its customers. The bank's insurance policy, which was introduced to provide financial security to its customers, has been instrumental in settling claims promptly, alleviating the financial burden on families. The insurance policy, which covers various types of risks, including life, accident, and liability, has been designed to provide comprehensive coverage to the...
British pension insurance totals $56 billion in 2024, report by Reuters states.
According to a recent report, British pension insurance deals are expected to reach a total value of £56 billion (approximately $72 billion USD) in 2024. This significant increase in pension insurance deals is attributed to the surge in demand from companies seeking to improve their retirement benefits for employees. The report suggests that this growth is driven by several factors, including the need for companies to demonstrate their commitment to employee welfare, particularly in a...
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 cashless doorstep medical care within a remarkably short period of 3 hours, without any out-of-pocket expenses. This expansion has improved the...
Puneet Gupta to Head Niva Bupa Insurance as Legal Head
Puneet Gupta, a seasoned lawyer with over 15 years of experience, has joined Niva Bupa Health Insurance as its new Legal Head, after leaving Axis Max Life Insurance. Gupta has a rich background in litigation, having worked in both the general insurance and real estate sectors. He has also worked with various functions at Axis Max Life, including HR, investment advisory, and corporate advisory. In his new role, Gupta is looking to bring innovation and excellence to the legal function,...
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 profitable investment. The Jeevan Shiromani Policy provides guaranteed returns, ensuring that policyholders receive a minimum payout upon maturity. This...
Niva Bupa Achieves Industry Recognition, Solidified as a Trusted Brand in India
Niva Bupa Health Insurance Company Limited, one of India's leading standalone health insurers, has received multiple prestigious industry recognitions in the last financial year, making it one of the most awarded health insurance brands in the country. The company was recently recognized as one of the Most Trusted Brands of India at an event held in Mumbai by Team Marksmen Daily. Niva Bupa has won several awards across top industry platforms, including the top prize in the Best Standalone...
Bangalore District Consumer Dispute Resolution Forum directs Niva Bupa Health Insurance Company to pay ₹4.5 Lakh to the aggrieved policyholder for wrongfully repudiating a valid health insurance claim.
The Additional District Consumer Disputes Redressal Commission-II, Bangalore Urban bench, has ruled in favor of Mr. John Jacob, a policyholder of Niva Bupa Health Insurance Co. Ltd., finding the insurance company liable for deficiency in service and unfair trade practices. The complainant's wife, Mrs. Princy John, was hospitalized for acute exacerbation of reactive airway disease, but the insurance company wrongfully rejected her claim, citing a pre-existing condition of diabetes. The...
Notification of Selection:Interview Results: Union Insurance Company of India Limited (UIICL) has announced the results of the written examination for vacant positions. The list of candidates found successful in the written examination has been released by the department. As per the UIICL notification, selected candidates will be further proceeding to the interview round.
The United India Insurance Co. Ltd. (UIIC) has announced the results for the written exam of Administrative Officers–Scale I Generalists and Specialists posts 2024. Candidates who appeared in the exam can check their results by visiting the official website, uiic.co.in. The result PDF contains the roll numbers of shortlisted candidates who have qualified for the interview round. To download the result, candidates need to follow these steps: 1. Visit the official website, uiic.co.in 2. Navigate...
Former NCLT Member joins ICICI Prudential Life Insurance as Independent Director
The Board of Directors of ICICI Prudential Life Insurance Company has approved the appointment of Anuradha Bhatia as an Additional (Independent) Director for a term of 5 years, starting from March 12, 2025, and ending on March 11, 2030. Ms. Bhatia is a former member of the National Company Law Tribunal (NCLT), Mumbai, and a retired Principal Chief Commissioner of Income Tax. She has over three decades of experience in direct tax administration, during which she supervised 23 districts of...
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The company has reported a significant increase in its net profit for the quarter ending December 31, 2024. The net profit rose by 67.9% to Rs 724.4 crore, compared to Rs 431.5 crore in the same period last year. This increase is despite a minor decline of 0.3% in the company's gross premium, which stood at Rs 6,214 crore in the December 2024 quarter, down from Rs 6,230 crore in the same period a year ago. The company's return on average equity (ROAE) has also improved significantly, rising to...
SEBI bars PNB MetLife dealer, associates; reasons unknown
The Securities and Exchange Board of India (SEBI) has barred nine entities, including a PNB MetLife dealer and his associates, from participating in the securities market for allegedly generating illegal gains of Rs 21.16 crore through front-running. The investigation found that the entities had accessed confidential information about impending trade orders of PNB MetLife and other clients, and had used this information to execute fraudulent trades and profit from market movements. The...
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 world-class technology to revolutionize customer engagement on a large scale. The MarTech platform enables LIC to connect with policyholders, prospects,...
Securing Futures: TheCSRUniverse interview with Ms. Sheena Kapoor, Head
ICICI Lombard's approach to corporate social responsibility is centered on addressing critical societal challenges through long-term, scalable solutions. The company's key initiatives span healthcare, road safety, environmental sustainability, and rural development, demonstrating its commitment to creating a safer, healthier, and more sustainable world. ICICI Lombard's approach is guided by three strategic pillars: road safety, health, and environmental sustainability. The company's framework...
NIA Result 2025 Out Now, Check at newindia.co.in
The New India Assurance Company Limited (NIACL) has announced the results for the Assistant Phase I recruitment exam 2024. The results can be accessed on the official website newindia.co.in. The Tier I (Preliminary) online examination was conducted on January 27, 2025, and the Tier II (Main) online examination is scheduled to take place on March 2, 2025. The Preliminary exam lasted for 60 minutes. The recruitment drive aims to fill 500 Assistant posts. To check the result, candidates need to...
Public sector insurance companies reported a profitable October-December quarter.
The four public sector general insurance companies (PSGICs) in India have achieved a remarkable turnaround in their financial performance, posting a combined profit of ₹1,066 crore by the third quarter of the current financial year. This is a significant improvement from the massive losses of over ₹10,000 crore they incurred in 2022-23. According to a finance ministry statement, the turnaround is attributed to several factors, including improved risk-management practices, loss control...
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 authorities, including those in Delhi, Maharashtra, Kerala, and Tamil Nadu, among others. The demand includes interest and penalties, with some of the...
NICL Assistant Mains Result 2025, Phase 2 Result PDF and Marks.
The New India Assurance Company Ltd (NIACL) is set to release the results of the NIACL Assistant Mains Exam on its official website, newindia.co.in. Candidates who took the Mains exam can check their qualifying status by downloading the result PDF, which will feature the roll numbers of shortlisted candidates who have cleared this stage. The result is expected to be released in April 2025, along with the cut-off marks and individual scorecards for all candidates. The NIACL Assistant Exam is...
UIIC AO Result 2025
The United India Insurance Company Limited (UIIC) has released the results of the Administrative Officer (AO) online exam 2025, also known as UIIC AO Result 2025, in PDF format. The result lists the roll numbers of candidates who have been shortlisted for the next stage of the selection process, which is the interview. The UIIC AO Score Card 2025 has also been released, showing the section-wise marks scored by candidates in the online exam. The UIIC AO online exam was held on December 21,...
Public sector general insurance companies notched profitability in the third quarter.
The Public Sector General Insurance Companies (PSGICs) in India have achieved a significant financial turnaround. After years of posting losses, all four companies - Oriental Insurance Company, National Insurance Company, United India Insurance Company, and New India Assurance Company - have returned to profitability. Oriental Insurance Company reported a profit in the fourth quarter of FY 2023-24, while National Insurance Company posted a profit in the second quarter of FY 2024-25, among...
IRDAI Investigates Star Health Insurance’s High Claim Rejection and Delay Rates
The Insurance Regulatory and Development Authority of India (IRDAI) has identified several irregularities in the claim settlement practices of Star Health and Allied Insurance, a private health insurer. According to a CNBC-TV18 report, the regulator has launched an investigation into the matter and is expected to take appropriate action against the insurer. IRDAI has reviewed the claim-handling processes of 8-10 other general and health insurance providers, but no enforcement measures have...
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 principle of "utmost good faith" and that any concealment of material facts can vitiate the policy. The case involved a father who took out two...
ESAF Small Finance Bank customers now get financial protection from IFFCO Tokio General Insurance.
ESAF Small Finance Bank (ESAF SFB) has partnered with IFFCO Tokio General Insurance Company to provide financial protection products to its customers. The agreement was signed in New Delhi and aims to offer a range of insurance products to ESAF SFB customers. The partnership will enable customers to access value-packed insurance benefits, including general insurance services, which will be made available at affordable rates. This collaboration between ESAF SFB and IFFCO Tokio General Insurance...
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 coinsurance transactions and failure to issue invoices for coinsurance services. The violations also include non-disclosure of coinsurance transactions in...
Strong growth expected to continue in new health and reinsurance segment.
The Indian insurance sector is expected to experience strong growth in the new health and term segments, according to a report by Nuvama. The report predicts that the industry growth will slow down to 6.3% due to choppy market conditions, which will impact sales of linked products. Additionally, weak credit and microfinance growth could hinder the growth of credit-linked group protection. However, the report also notes that Indian Public Sector General Insurance Companies (PSGICs) have made a...
PNB MetLife Launches Aggressive Long-term Pension Fund with Policybazaar Partnering.
Insurance Asia offers various opportunities for businesses to advertise and connect with their target audience. The community provides multiple ways for companies to promote their brand, products, and services. One option is to collaborate with the team to create an advertising campaign, which can be published in the website and print magazine. In addition, Insurance Asia can organize events, both online and offline, where businesses can connect with potential partners, thought leaders, and...
Niva Bupa Shines at Industry Awards, Concludes Financial Year as One of India’s Most Trusted Brands
Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has been recognized with multiple industry awards for its customer service, technology, and growth. The company has won top honors at various industry platforms, including the Mint BFSI Summit & Awards 2025, InsureNext Global Conclave & Awards 2025, and ET NOW Insurance Summit & Awards 2024, among others. Niva Bupa's achievements reflect its commitment to leveraging digital transformation to offer...
ICICI Prudential Life Insurance and Axis Max Life Insurance lead in Customer Experience.
The Hansa Research Group has released its 5th edition of the Insurance CuES report, which tracks customer experience, perceptions, attitudes, and behavior of insurance consumers in India, with a focus on life insurance. The report ranks the top life insurance companies in India based on customer experience and captures feedback from over 3600 customers across 13 life insurance brands. The report highlights key trends and insights that can help companies prioritize and better position their...
Vivek Paul and Govind Prasad Agarwal get new roles at LIC.
The Life Insurance Corporation of India (LIC) has announced the appointment of two new officials to senior management positions on its board. Vivek Paul and Govind Prasad Agarwal have been appointed to the roles of Senior Management Personnel. Vivek Paul takes over as the Managing Director and Additional Director of LIC. Govind Prasad Agarwal, who was appointed as Additional Director, has been given an additional role of Additional Director, taking over responsibilities related to marketing...
Optimize Your 2025 Two Wheeler Insurance Premium
As the new year 2025 approaches, it's essential to reassess and optimize your financial investments, including your two-wheeler insurance policy. Here are 9 tips to help you lower your two-wheeler insurance premium and get the best coverage: 1. Consider increasing your deductible to reduce your annual premium. 2. Install modern anti-theft devices, such as GPS trackers, immobilizers, or alarms, to receive discounts and keep your bike secure. 3. Maintain a clean riding record to avoid increasing...
The Madras High Court has ruled that a state can acquire temple land for public projects such as metro developments without violating fundamental rights under Article 25 and 26.
The Madras High Court has set aside a notice issued by the Chennai Metro Rail Limited (CMRL) proposing to acquire the property of United India Insurance for the construction of a metro station as part of the Phase-II project. The court held that it was open for CMRL to acquire the property of a nearby temple, as per its original plan, and that the acquisition of temple lands for the metro project would not violate the fundamental rights of the religious institution under Articles 25 and 26 of...
PNB MetLife Launches Pension Premier Multicap Fund
PNB MetLife India has launched the Pension Premier Multicap Fund under its Unit-Linked Insurance Plan (ULIP) offerings, in collaboration with Policybazaar. The fund aims to help customers build secure retirement savings and will be available for subscription from April 1 to April 15, 2025, at an initial Net Asset Value (NAV) of ₹10. The Pension Premier Multi-Cap Fund is an actively managed fund that invests in a diversified portfolio and aims to outperform the S&P BSE 500 Index. The fund has a...
NIACL AO Phase II Result 2024: Download Here
The New India Assurance Company Limited (NIACL) has announced the results of the Administrative Officers Scale I - Generalist/Specialists Phase II 2024. Eligible candidates who have cleared the Phase II (mains) examination conducted on November 17, 2024, can now download their results from the official website newindia.co.in. The shortlisted candidates will need to appear for the interview round. The downloading of call-letters indicating the date, time, and venue of the interview will...
Prudential and HCL Group have formed a joint venture for health insurance.
Prudential, a UK-based insurance company, has announced the establishment of a standalone health insurance company in partnership with Vama Sundari Investments, a company owned by the HCL Group. The joint venture, subject to regulatory approvals, will see Prudential Group Holdings hold a 70% stake and Vama Sundari Investments hold the remaining 30%. This development marks Prudential's further expansion into the Indian insurance market, which is currently experiencing growth opportunities in...
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 inconvenience involved. The study also revealed that the decision to repair or replace a vehicle is often influenced by emotional attachment to the car,...
Kotak Life reframes term insurance as a legacy protection tool
Kotak Mahindra Life Insurance has launched a new campaign called "Viraasat Ban Ke Hi Rahegi" (Legacy Will Remain) to promote term insurance as a crucial component of building a "Viraasat" (legacy) for future generations. The campaign aims to reposition term insurance as a tool to protect and ensure the continuity of one's legacy. In India, there is a strong cultural emphasis on creating a "Viraasat" through financial stability and security for future generations. However, many Indians often...
JM Financial maintains a Buy recommendation on HDFC Life. Meanwhile, they have reduced their target price to ₹800.
JM Financial has issued a buy call on HDFC Life Insurance Company with a target price of Rs 800, a reduction from its previous target price of Rs 900. The current market price of the company is Rs 618.95. HDFC Life Insurance Company is a large-cap company operating in the financial services sector, with a market capitalization of Rs 133,097 crore. For the quarter ended December 2024, the company reported a consolidated total income of Rs 17,270.97 crore, a decline of 39.98% from the previous...
Among India’s most valuable state-owned firms, Hurun Report lists SBI, LIC, and NTPC.
The 2024 Burgundy Private Hurun India 500 report has revealed the list of India's most valuable private entities. Reliance Industries Ltd. tops the list with a value of Rs 17.5 lakh crore, followed by Tata Consultancy Services Ltd. at Rs 16.1 lakh crore, and HDFC Bank Ltd. at Rs 14.2 lakh crore. The report has listed the 500 most valued private entities in India, with a minimum threshold of Rs 9,580 crore, a rise from Rs 6,700 crore previously. This increased threshold reflects the significant...
God will forgive if it serves the public: Madras HC allows acquisition of two temple lands.
The Madras High Court has ruled that even temple land can be acquired for public projects, provided the development benefits devotees as well. The court was hearing a Public Interest Litigation (PIL) against the acquisition of land belonging to Rathina Vinayagar Temple and Durgai Amman Temple in Chennai for the city's metro rail project. The PIL argued that the acquisition was unfair and that the temples' land should be exempt from acquisition. However, the court found that CMRL (Chennai Metro...
Raj Kapoor’s family member attempted to venture into the kitchen appliance business but unfortunately, it didn’t pan out. He then shifted gears and became a LIC agent.
Ritu Nanda, the daughter of Bollywood legend Raj Kapoor, defied conventional expectations by choosing a career outside of the film industry. Despite being part of the famous Kapoor family, Ritu opted for a business and insurance career, which was entirely different from her family's profession. She was an entrepreneur, insurance advisor, author, and negotiator, and her biography describes her as a pioneer in her field. Ritu's accomplishments are impressive, to say the least. She was once the...
PNB MetLife and Policybazaar launch new pension multicap fund under ULIP.
PNB MetLife India Insurance has launched the Pension Premier Multicap Fund, a Unit-Linked Insurance Plan (ULIP) designed to help customers build retirement savings while offering life insurance cover. The fund will be available for subscription until April 15, 2025, at an initial Net Asset Value (NAV) of ₹10, after which it will be available at market value. The multicap fund aims to invest in a diversified portfolio and outperform the S&P BSE 500 Index. It is benchmarked against the same...
Kotak Life introduces a cover that considers your future.
Kotak Mahindra Life Insurance has launched Kotak Gen2Gen Income, a non-linked savings plan designed to provide financial protection for two generations. This unique plan allows policyholders to secure income and protection for both themselves and their heirs under a single policy, by choosing the legacy option. The plan offers flexible plan options to cater to diverse financial goals, such as building a retirement corpus or creating a wealth legacy for the next generation. Upon policy...
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, MD & CEO of Star Health Insurance, expressed his gratitude for the recognition, stating that it fuels their ambition to push boundaries and continue...
Kerala Human Rights Commission orders United India Insurance to act promptly on missing fisherman’s claim.
The Kerala State Human Rights Commission has issued a directive to the United India Insurance Company to take a decision on the claim of a fisherman's family within two months. Biju, a fisherman from Pallithura, went missing at sea on November 16, 2014, and his family had submitted a claim to the insurance company despite having a certificate from the sub-collector stating that he was "missing". The insurance company had initially rejected the claim, citing that the family had reported the...
Amandeep Arora appointed as Head of Communications & CSR at PNB MetLife India Insurance.
Amandeep Arora has been appointed as the new Head of Communications and CSR at PNB MetLife India Insurance. Arora announced the news on LinkedIn, sharing her excitement for this new challenge. Prior to joining PNB MetLife, Arora spent time at EnKash, where she served as Director of Communications, SEO, and Content Marketing. With over 17 years of experience in public outreach and corporate reputation campaigns, Arora brings a wealth of expertise to her new role. Her impressive career has seen...
No special treatment, LIC is upset about this claim in the report.
The Life Insurance Corporation of India (LIC) has responded to a claim made by the United States Trade Representative (USTR) report that it receives special treatment from the government or regulatory authorities. LIC has denied this claim, stating that it is treated in the same way as any other insurance company. According to LIC, the guaranteed provision provided at its inception in 1956 is a statutory provision designed to build public confidence and has never been used as a marketing tool...
ICICI Lombard: Successful in Tax Appeals, Secures ₹174 Crore Relief
ICICI Lombard General Insurance Company Limited has received a favorable order from the Commissioner of Income Tax (Appeals) in Mumbai, providing relief on several appeals for Assessment Years 2012-13, 2015-16, 2016-17, and 2017-18. The total tax in dispute, amounting to ₹ 174,61,51,061, has been granted relief. The company had filed appeals against assessment orders passed under Section 143(3) of the Act for Assessment Years 2016-17 and 2017-18, and re-assessment orders passed under Section...
PNB MetLife Partners With Saraswat Cooperative Bank To Offer Insurance Solutions
PNB MetLife India Insurance Company Limited has formed a strategic bancassurance partnership with Saraswat Co-Operative Bank Ltd., one of India's largest Urban Co-operative Banks. The partnership aims to enhance financial inclusion by offering a range of life insurance solutions to Saraswat Bank's customer base of approximately 30 lakh individuals across 302 branches nationwide. The collaboration will provide customers with a comprehensive suite of insurance products, including savings,...
HDFC Life wins the ICAI Award for Best Financial Reporting for 2023-24.
HDFC Life, one of India's leading life insurance companies, has been awarded the Silver Shield in the Category-III - Life Insurance at the ICAI Awards for Excellence in Financial Reporting 2023-24. The award was presented to HDFC Life by Union Minister Arjun Ram Meghwal at the ICAI Awards ceremony in New Delhi. The Institute of Chartered Accountants of India (ICAI) awards recognize companies that demonstrate outstanding financial reporting standards, and HDFC Life is the only life insurance...
PNB MetLife partners with Saraswat Co-operative Bank to provide insurance solutions
PNB MetLife, a leading insurance company, has partnered with Saraswat Co-operative Bank Ltd, one of India's largest urban co-operative banks, to enhance financial inclusion and offer life insurance solutions to a vast customer base of approximately 30 lakh individuals across 302 branches nationwide. This strategic bancassurance partnership aims to bridge the insurance protection gap in India by providing a comprehensive suite of life insurance products, including savings, protection,...
Kotak Life Sciences Fund raises Rs 250 Cr in first close
Kotak Alternate Asset Managers Ltd. has announced the first close of its Kotak Life Sciences Fund, a private equity vehicle that targets investments in India's healthcare and life sciences sector. The fund has raised Rs 250 crore ($30.2 million) from family offices, institutional investors, ultra-high-net-worth individuals, and industry executives, and aims to back early- to growth-stage companies across pharmaceuticals, biotechnology, medical devices, digital health, and diagnostics. The...
LIC refutes claims of government favouritism.
The Life Insurance Corporation (LIC) of India has refuted claims made by the US Trade Representative (USTR) that the insurance company receives "special treatment" from the Indian government and regulators. The USTR report alleged that LIC's statutory guarantee, which was put in place when the company was established in 1956, gives it an unfair competitive advantage over private insurance companies. The report claimed that this guarantee allows LIC to secure business from ordinary citizens at...
The Car Insurance Industry in 2025: A Shift Towards AI-Driven Processing
By 2025, Artificial Intelligence (AI) is expected to have a significant impact on the car insurance industry. Here are some of the ways AI is reshaping the industry: 1. Personalized Pricing and Risk Assessment: AI-powered telematics tracks driving patterns, allowing insurers to assess individual risk more accurately and offer personalized pricing. 2. Claims Automation and Faster Processing: AI-powered chatbots and virtual assistants streamline the claims process, gathering information,...
PNB MetLife Partners with Saraswat Bank for Financial Inclusion
PNB MetLife India Insurance Company Limited has announced a strategic bancassurance partnership with Saraswat Co-Operative Bank Ltd., India's largest urban co-operative bank. The partnership aims to provide a comprehensive range of life insurance solutions, including savings, protection, retirement, and group plans, to Saraswat Bank's vast customer base of approximately 30 lakh individuals across 302 branches nationwide. The partnership seeks to address India's significant insurance protection...
HDFC Life introduces Click 2 Achieve Par Advantage for secure financial planning.
HDFC Life has launched a new product called HDFC Life Click 2 Achieve Par Advantage, a participating life insurance policy that is designed to meet the savings and financial security needs of individuals at different life stages. The policy offers flexibility, liquidity, and customizability to cater to the changing needs of policyholders. Some key features of the policy include the Policy Continuance Benefit, which waives future premiums in case of the policyholder's death, and the Choice of...
Saraswat Bank customers will benefit from PNB MetLife.
Saraswat Co-operative Bank, India's largest urban co-operative bank, has entered into a partnership with PNB MetLife India Insurance Company Limited to promote financial inclusion through life insurance solutions. The collaboration aims to offer a range of insurance products, including savings, protection, retirement, and group plans, to Saraswat Bank's 30 lakh customers across 302 branches nationwide. This partnership is expected to bridge the insurance gap in India by leveraging PNB...
Insurance company ordered to pay compensation for denying elderly citizen’s medical claim.
The District Consumer Disputes Redressal Commission of Ranga Reddy in Hyderabad has ordered Niva Bupa Health Insurance Company to pay a 72-year-old senior citizen a compensation of Rs 94,584 with an interest rate of 9% for her cataract surgery. The company had rejected the claim citing pre-existing conditions, including high blood pressure, atypical chest pain, and irregular heartbeat due to heart block. However, the commission found the rejection unjustified, stating that the insurer had...
All-Risk Insurance Solution
ICICI Lombard, India's leading private general insurer, has launched IAR Supreme, an advanced all-risk insurance policy that provides unmatched flexibility, enhanced risk assessment services, and over 120 customizable coverage options. The policy is designed to address the evolving risk landscape and is tailored for both manufacturing and non-manufacturing sectors, ensuring comprehensive coverage beyond traditional policies. IAR Supreme offers a structured and customizable policy framework,...
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 protection and promoting timely intervention. The program is designed to redefine how Indians perceive and access dental care, making oral health a...
Niva Bupa Shines at Industry Awards; Ends the Financial Year as One of the Most Trusted Brands in India – The Week
Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has received multiple prestigious industry recognitions in the last financial year. The company was recognized as one of the most trusted brands in India and won top industry awards in various categories, including the Best Standalone Health Insurer at the Mint BFSI Summit & Awards 2025 and Financial Services (Non-Lending) Company of the year at the VC Circle Awards 2025. Niva Bupa has been consistently...
Kapiva, Aditya Birla, and Rustomjee are leveraging AI twins for real-time decision-making.
Indian marketers are facing a rapidly changing consumer landscape, where traditional methods such as focus groups and surveys are no longer effective. AI Twins, a platform offered by consumr.ai, is solving this problem by creating real-time, privacy-safe digital replicas of ideal customers based on observed behaviors such as search trends, content engagement, and social activity. These AI Twins profiles help brands make data-driven decisions across media, creative, targeting, and product...
MACT grants ₹1.39 cr to manager who lost arm in bus accident
The Motor Accident Claims Tribunal (MACT) in Thane, India, has awarded a compensation of ₹1.39 crore (approximately $180,000) to a 51-year-old sales manager, Mahesh Lalchand Makhija, who lost his left arm in a bus accident in 2019. The accident occurred when the bus, which was speeding and lost control, hit Makhija, causing severe injuries that required amputation of his left arm. Makhija, who was earning ₹1 lakh (approximately $13,000) per month as a sales manager at Diageo India (United...
APAC Media | Connect. Engage. Impact.
India Post Payments Bank (IPPB) and PNB MetLife India Insurance Company Limited have partnered to expand access to life insurance solutions across the country. The partnership aims to increase financial penetration, particularly in underserved rural areas, by providing IPPB's customers with access to PNB MetLife's life insurance products. With 650 banking outlets and 11 crore customers, IPPB's extensive network will help PNB MetLife reach a wider audience. The partnership is expected to...
USTR identifies non-tariff barriers in LIC, NPCI
The US has criticized India's financial industry, citing several areas where Indian entities have an unfair advantage over foreign firms. The 2025 National Trade Estimate Report, published by the Office of the US States Trade Representative (USTR), highlighted several issues, including data storage requirements for electronic payments, barriers to entry in the accounting services sector, and unfair treatment of foreign firms in the insurance industry. The report stated that India's requirement...
Niva Bupa Outshines in Industry Awards, Closes Financial Year as One of India’s Most Trusted Brands.
Niva Bupa Health Insurance Company Limited, a leading standalone health insurer in India, has received multiple prestigious industry recognitions in the last financial year, making it one of the most awarded health insurance brands in the country. The company has been recognized as one of the Most Trusted Brands of India by Team Marksmen Daily, and has also won top honors in various categories, including Best Standalone Health Insurer, Best Health Insurance Company, and Swift and Prompt...
LIC Employees Protest FDI Increase to 100%
Employees of the Life Insurance Corporation of India (LIC) under the All India Insurance Employees Association (AIIEA) recently protested against the increase in foreign direct investment (FDI) limits in the insurance sector, as announced by Finance Minister Nirmala Sitharaman in the Budget. The protest was sparked by the decision to increase the FDI limit from 74% to 100%. The protesting employees believe that this move will be harmful to the Indian economy, common people, and the state's...
ICICI Prudential Life Insurance Floats Income-Guaranteed Product with Inflation-Adjusted Returns for Volatile Times
ICICI Prudential Life Insurance has launched a new product, ICICI Pru GIFT Select, designed to provide guaranteed immediate income and address the uncertainties of current market conditions. The plan offers customers guaranteed returns, wealth preservation, and an inflation-adjusted increasing income option. With the ability to customize start dates, durations, and amounts of payouts, customers can tailor their income to meet their individual needs. The product also features a life cover,...
DRChoksey predicts that Life Insurance Q4 results will be driven by seasonal tailwinds and product mix, leading to growth.
The article discusses the projected performance of key players in the life insurance sector, as covered by a brokerage. SBI Life is expected to maintain its value of new business (VNB) margins in the range of 27.0-29.0% for FY26E, thanks to favorable reinsurance pricing and continuous product innovation. HDFC Life is well-positioned to stabilize or improve its margins, driven by improving persistency rates, higher universal life insurance plan (ULIP) attachment rates, and operating leverage....
20-23% to 25% Rise in Health Insurance Premiums Next Year, Expected to Continue into 2024.
Indian insurance companies are considering a significant hike in health premiums due to record-breaking air pollution in New Delhi last year. According to reports, the insurers are seeking a 10-15% increase in premiums, which would be the first time air pollution is used as a direct factor in calculating health insurance premiums in India. The move is attributed to the severe air pollution in Delhi, which led to a significant number of residents seeking treatment for asthma, chronic...
UIIC AO Interview Admit Card 2025 Out
United India Insurance Company Limited (UIIC) has released the interview call letter for Administrative Officer (AO) Scale 1 posts on February 14, 2025. The UIIC AO Interview Admit Card 2025 is available on the official website, www.uiic.co.in. Candidates who have been provisionally shortlisted for the interview are advised to download their admit cards before the interview date and keep them safe. The UIIC AO Recruitment 2025 Exam is being conducted for generalists and specialists in various...
Kotak Life’s Viraasat Ban Ke Hi Rahegi campaign emphasizes the importance of term insurance as a tool for legacy protection.
Kotak Mahindra Life Insurance Company Ltd. (Kotak Life) has launched a new campaign, "Viraasat Ban Ke Hi Rahegi", which highlights the importance of term insurance in protecting the legacies that individuals work hard to build for their families. The campaign draws from a deeply ingrained cultural insight - Indians aspire to accumulate wealth and assets to ensure stability and security for their loved ones. The campaign film features Rajkummar Rao, who plays a protagonist dedicated to saving...
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, totaling £862 million on over 41,000 claims. Aviva also paid out over £405 million to customers with critical illness, children's benefit, or total...
IRDAI approves registration of Valueattics Reinsurance and LIC, New India Assurance.
The Insurance Regulatory and Development Authority of India (IRDAI) held its 129th meeting on March 12, where it discussed and made significant decisions on the insurance sector. firstly, three state-owned insurers, State-owned Life Insurance Corporation of India (LIC), The New India Assurance Company, and General Insurance Corporation of India (GIC Re), were identified as domestic systemically important insurers (D-SIIs) for 2024-25. This means they are subject to enhanced regulatory...
Rs 55 lakh stolen from LIC office in Jamshedpur, CCTV records missing.
A major theft has been reported at the Life Insurance Corporation (LIC) office in Jamshedpur, India, where thieves broke open the safe and stole over Rs 55 lakh (approximately $75,000). The incident came to light when employees arrived at the office on Wednesday morning and discovered the safe's lock broken, with cash missing and items scattered. The police launched an investigation, finding that the thieves not only broke into the safe but also removed the CCTV DVR, erasing any potential...
High Court Quashes Notice Issued to PSU Insurance Company by Chennai Metro
The Madras High Court has quashed a notice issued by the Chennai Metro Rail Limited (CMRL) to the United India Insurance Company Limited, calling for the acquisition of a property measuring 837 square meters for its project. The notice was issued on September 26, 2024, and the insurance company filed a petition challenging the notice. The court allowed the petition and quashed the notice, citing that the impugned notice was vitiated as it offended Article 14 of the Constitution by violating...
Consumer Court Imposes ₹69,000 Fine on Insurance Company for Denying Claim
A consumer court in Chandigarh has delivered a scathing rebuke to Aditya Birla Health Insurance, directing the company to reimburse medical expenses and pay compensation for mental harassment and litigation costs. The case involves Sanjeev Rana, who purchased a health insurance policy with a coverage of ₹5 lakh. Rana was hospitalized at Max Super Specialty Hospital in Mohali in April 2024 due to severe dehydration and high creatinine levels, and the hospital submitted a claim to Aditya Birla...
Probitas produces robust financial outcomes fueled by the Aviva partnership.
Probitas, a company, has experienced significant growth and expansion over the past 18 months. During this period, the company has expanded its strategic initiatives, which have had a positive impact on its operations. One of the main areas of growth has been its Australian service company, which has seen significant increases in both revenue and profitability. In addition to this, Probitas has also established its operations in Canada, marking a significant milestone for the company as it...