"The committee was formed earlier this month and has been given six to eight weeks for a comprehensive review of the 70 or so regulations governing the industry to ensure principal bases regulations," said a person aware of the details. "The ultimate aim is to ensure ease of doing business for all stakeholders in the industry."
National Insurance among four Govt owned general insurers gearing up for major rejig
The four Central government owned non-life insurers are expected to implement a major organisational restructuring in less than month which would cut down their costs, free up staff for redeployment and in general improve customer service, said industry officials.
Health insurance eating into PSU companies' profits: CAG
The audit found that losses from the health insurance business of public sector insurers have either wiped out, or decreased, the profits of other lines of their business, particularly in group health insurance where premium charged was less and claim outgo was more in comparison to retail policies.
CAG report: PSU general insurers logged ₹26k cr loss between FY17 & FY21
The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of business or increased the overall losses, the audit report on third-party administrators (TPAs) in the health insurance business of public sector insurance companies noted.
Big Movers on D-St: What should investors do with New India Assurance, Ashok Leyland and Vodafone?
Stocks that were in focus include names like New India Assurance closed with gains of over 6 per cent, Ashok Leyland which closed flat with a negative bias, and Vodafone Idea which was down by over 3 per cent.
58,000 public general insurance staffers to go on a two-day strike from July 27
Mainly, staff of the New India Assurance Co. Ltd., (Mumbai), the Oriental Insurance Co. Ltd., (New Delhi), the National Insurance Co. Ltd., (Kolkata), and the United India Assurance Co. Ltd., (Chennai) will observe the strike.
Midyear Wrap: 4 out of every 5 BSE500 stocks settle with deep cuts
According to the data from AceEquity, 392 stocks out of the BSE 500 index have delivered negative returns between January to June 2022. It means that four out of every five stocks are down on a year-to-date (YTD) basis as of June 29.About 210 stocks have dropped more than 20 per cent in the first half of 2022, while 40 stocks have tanked between 40-72 per cent, highlighting painful six months for investors.
With the government looking to restructure the operations of its general insurers, it should swiftly legally empower BBB to recommend candidates. These companies must be steered by competent professionals to improve governance, management and underwriting discipline.
Can Life Insurers Offer Health Plans? Irdai Set to Take a Call
Allowing life insurance companies to offer health plans is one of the big decisions in front of Irdai chairman Debasish Panda, who has vowed to simplify regulations and capital requirements and introduce new products to widen insurance penetration in the country.
SGX Nifty up 10 points; here's what changed for market while you were sleeping
Nifty50 on Friday capitalised on a strong gap-up start as the index ended almost at day's higher. In the process, it breached its immediate resistance level of 16,150 and formed a bullish candle both daily and weekly scales. Analysts said more upside is in the offing and advised traders to be cautiously bullish for the week ahead.
Stocks in the news: Infosys, Paytm, NTPC, Power Grid, BHEL and Sun Pharma
Divis Labs, BEL, SAIL, Zomato, Ramco Cements, Birlasoft, Graphite India, Vaibhav Global, HLE Glasscoat, Rupa and Company, Data Patterns, HG Infra Engineering are among the companies that will announce their Q4 earnings today.
Private sector general insurers lead market share growth in April
Earlier this month, the first-year premium data of life insurers showed that the Life Insurance Corp (LIC) consolidated its position on the top with almost a one-and-a-half times increase in the first-year premium. LIC has a 65% market share, almost double the 35% of all private life insurers put together.