Insurance sector pins hope on new IRDA chief for turnaround

All eyes are now on the new IRDA chairman. With the insurance industry still coming to terms with its lacklustre performance in the past three years during which business fell steadily and pushed a majority of ULIPs and pension products almost off the radar. The hope rests on TS Vijayan’s ability to bring about a turnaround.

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Insurance sector looking for remunerative tax incentives

The Indian insurance sector is looking for remunerative tax incentives in Budget 2013-14 to boost sales volumes and increase penetration. While life insurers demand separate deduction limits for long-term insurance products, non-life insurers want special exemption categories for home and property insurance.

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Finance Ministry may allow FDI in insurance through fresh equity

The new proposal to increase foreign investment in insurance may not mean that promoters of insurance companies get to cash in on a portion of their stake. That’s because the finance ministry may be inclining towards allowing additional foreign investment only though the issue of fresh equity, and not a stake sale.

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HDFC Life Insurance launches ‘New Immediate Annuity Plan’

HDFC Life, one of India’s leading life insurance companies, announced the launch of ‘HDFC Life New Immediate Annuity Plan’, a traditional annuity product with a wide range of annuity options that will ensure a regular income stream post retirement.

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