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Industry News

GIC Re expects insurance claims of US$50 mln from Nepal quake

May 4, 2015

India’s state-owned national reinsurer, General Insurance Corporation of India (GIC Re), is expecting claims worth US$50 million from the Nepal…

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India: Non-life premiums expand by 9.3% to US$13.5 billion for year to 31 Mar

April 21, 2015

Subdued new premium growth due to poor auto sales and the lack of new projects have dented the general insurance…

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India: New agent rules to affect valuation of insurers

April 14, 2015

Regulations covering corporate agents proposed by the insurance regulator that would require a bank to sell the insurance policies of…

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India: Regulator drawing up health insurance framework.

April 10, 2015

The Insurance Regulatory and Development Authority of India (IRDAI) is reviewing health insurance guidelines, following the amendment last month of…

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ONGC’s renewal premium drops 40%, Endurance and Aspirin are new lead reinsurers.

March 30, 2015

Energy major ONGC has driven a hard bargain to renew its re/insurance cover, at around USD 20 million — a…

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India: Proposal to bar insurers from rejecting third-party cover.

March 23, 2015

The Indian insurance regulator has proposed that no insurer can refuse to underwrite third party insurance. The insurance Bill was…

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India: Landmark insurance law passed to raise foreign investment cap to 49%.

March 13, 2015

India’s Parliament has voted to increase the foreign investment limit in the insurance industry to 49% from 26%, in a…

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GDP at risk of inland floods to rise 10-fold to US$154 billion.

March 11, 2015

The economic output at risk of flooding in India, the world’s second most populous nation, may surge 10-fold by 2030…

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India: Operating rules for insurance marketing firms finalised.

March 6, 2015

The Insurance Regulatory and Development Authority of India (RDAI) also said that the insurance servicing activities of the insurance marketing…

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India: Insurance market to quadruple to about US$250 bln a year by 2025

March 3, 2015

India’s insurance sector is expected to quadruple to about US$250 billion over the next decade from around US$60 billion at…

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