Life insurance industry reported new business premium (NBP) growth to the tune of Rs 27,820.74 crore in August, driven by 21 percent year-on-year growth by private life insurers even as LIC reported a decline. The country’s largest insurer, Life Insurance Corporation of India (LIC), reported a 3.8 percent y-o-y contraction. LIC earned NBP to […]
Author Archives: Kumud Das
News & Analysis
Pravin Dabhi: Mumbai’s millionaire life insurance agent who operates within just 2km radius
27
Aug
Aug
Pravin Dabhi joined some of the world’s most successful life insurance agents at the prestigious Million Dollar Round Table (MDRT) for the seventh time in a row in July this year. Dabhi started working as an LIC agent in 2014. Interestingly, he operates only in a 2-km radius in Central Mumbai, which […]
News & Analysis
Covid second wave hurts insurance players in Q1 despite growth in new business premium
09
Aug
Aug
The net profit of top three listed life insurance companies was pulled down by rising Covid claims during the April-June quarter even though the business is expected to be back on track soon given the rising number of people opting for life insurance. “India’s private life insurers’ business growth has taken a blow once […]
30
Jul
Jul
Even as the government has cleared the decks for the insurers to go for 74 per cent hike in FDI cap, most insurance companies may prefer to raise money through an initial public offering (IPO), say analysts. Analysts believe most domestic Indian promoters may be unwilling to give up control. And it won’t be […]
News & Analysis
Nitin Gandhi: How a construction material supplier became one of India’s most successful LIC agents
21
Jul
Jul
Nitin Gandhi’s journey from being a construction material retailer to one of the top LIC agents is a truly inspiring one. His mantra of ‘Meet People, Ask People and Stay with People’ has been the catalyst for his success. He set up his own LIC Agency in 1997 while working alongside in his shop, oblivious […]
16
Jul
Jul
With gazette notification for increase in FDI to 74 per cent by the insurance regulator IRDAI on July 8, the deck is open for global insurance companies that have been waiting in the wings to enter the highly underpenetrated Indian insurance market. According to recent reports, global insurance majors such as Aviva and Generali are […]
12
Jul
Jul
Life insurance behemoth LIC, which is gearing up for an initial public offering (IPO) later this year, witnessed a tepid growth in individual annualized premium equivalent (APE) in the first quarter of the current fiscal ending June 30. It was mainly due to pressure on the individual agency business during the pandemic. APE is the […]
23
Apr
Apr
In FY21, the life insurance industry registered 7.5 percent growth in first business premiums at Rs 2,78,277.9 crore over the previous year, data released by Life Insurance Council showed. The country’s largest life insurer, Life Insurance Corporation (LIC), posted a growth of 196 percent in individual weighted received premium (WRP) from a decline of 65 […]
News & Analysis
Generali and Liberty Mutual insurance likely to raise stake in Indian insurance JV’s post FDI cap hike to 74%
19
Apr
Apr
The regulatory go-ahead for an increase in foreign direct investment (FDI) cap to 74 percent in insurance companies will see some foreign JV partners increasing their stakes in Indian ventures besides boosting competition in the cash-strapped sector. Italian insurance group Generali and American insurance group Liberty Mutual are likely to be the first ones to […]
14
Apr
Apr
Your vehicle’s third-party (TP) motor insurance premium rates are likely to be revised upwards by up to 10 per cent this fiscal after remaining unchanged last year. TP motor insurance rates, the only segment which continues to be regulated by regulator IRDAI, are revised every year in April. However, due to Covid-19 the rates were […]
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