Move to restrict industry growth, say insurers.The Insurance Regulatory and Development Authority (Irda) on Wednesday announced stiff guidelines on agents servicing third-party policies. It has linked the norms to their past performance and the numbe ..

The country’s largest life insurance company, Life Insurance Corporation of India paid a dividend of Rs 1,030 crore to the central government for the financial year 2010-11. Mr T S Vijayan, Chairman, LIC handed over the cheque to Mr Pranab Mukh ..

In line with the recent spate of insurance plan launches, Max New York Life has introduced a new Ulip (unit-linked insurance plan) – Flexi Fortune – in the market.Premium Paying Term:The limitedpay plan offers three choices in terms of pr ..

Thanksto the burgeoning healthcare costs, an increasing number of Indians have becomeincreasingly aware of the importance of having a health insurance policy. Manyprefer to buy a separate plan despite being covered by their employers undergroup medic ..

IndiaFirst Life Insurance, jointly promoted by Bank of Baroda, Andhra Bank and Legal & General, is planning to introduce health and pension products before March. The JV is also proposing to enter the microinsurance business in the first quarter  ..

When you are rearing to buy a new car, insurance premium is a remote consideration in deciding the model. However, the premium can vary markedly depending on several factors, such as the car model, year of manufacture and fuel option, even unlikely o ..

After a tough quarter, insurance companies are going through a second round of cost rationalisation. A number of private sector insurers are planning to cut costs, as much as 20 per cent, in the next few months.The first move being planned is closure ..

The new business premium income of the life insurance industry fell by 20 per cent in December compared to the year before.According to data collated by insurers, the industry collected Rs 9,709 crore by selling new policies in December, as against R ..

Flexible premium products provide flexibility in terms of the premium and sum assured.When Gopi Vyas heard of flexible insurance policies being launched, she decided it was time to meet her financial advisor. There were a number of questions related  ..

Bank of India (BoI) has planned to focus on rural areas and would cover about 110 villages in Tamil Nadu under the Financial Inclusive Plan of the RBI, according to Mr N. Seshadri, Executive Director, BoI.SME credit plansThe small and medium enterpri ..

 2010 proved a watershed for life insurance companies and customers . The new Ulip regulations that came into force in September 2010 changed the face of the life insurance business with customer centricity and efficiency becoming the industry&r ..

SBI has launched an aggressive financial inclusion campaign in Andhra Pradesh to cover 1,130 villages and for that purpose, the bank has set up financial inclusion centres in all the 23 districts, according to Mr Shiva Kumar, Deputy Managing Director ..

It was the third reminder in as many days to submit my tax-saving investment declaration. Problem was I was still short of my target by Rs 20,000—where should I invest? My mother insisted on a government-backed instrument. She is still suspicio ..

In the tax-saving season, buying an insurance policy is a temptation most investors yield to. There is nothing wrong in choosing a long-term product which comes with some tax sops. The problem is in simplistic decision making by most investors when i ..

Authorities of National Institute of Technology, Silchar have decided that all students of the institute will soon be brought under medical insurance coverage. Besides, emergency and basicmedicines will henceforth be available with the resident docto ..

LIC Housing Finance’s net interest margins are likely to be tempered with increased funding costs and a fall in high-margin loansOn the back of a strong December 2010 quarter performance, the LIC Housing Finance (LICHF) scrip has rallied by 14  ..

Private insurer Aviva Life Insurance today launched two new insurance plans that seek to address concerns on loan protection, income protection as well as offer guaranteed returns.Life Shield Platinum comes with options to choose the protection need  ..

Insurance watchdog Irda today said the guidelines for public float of life insurance companies will be ready this fiscal, while the non-life may take more time."Initial Public Offering (IPO) guidelines for life insurance companies will be out so ..

LIC Housing Finance's net profit rose 39 per cent to Rs 213 crore in the third quarter of 2010-11, as against Rs 154 crore in the corresponding year-ago period.“Despite tight liquidity and rising cost of funds, we have been raising funds ..

The Insurance Regulatory and Development Authority (IRDA) is planning to hire about 100 insurance professionals over the next three months to tackle its growing manpower needs. “The industry has been growing and the Authority needs skilled prof ..