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. Read more

Insurers want to tap RGESS to push Ulip sales

Insurance companies are keen to offer fund(s) approved under the Rajiv Gandhi Equity Saving Scheme (RGESS) to potential policyholders for unit-linked insurance plan (Ulip). Even the insurance regulator is with the sector on this. Read more

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. Read more

Firms optimistic about a future ‘insured’ by regulatory changes

Year 2012 wasn’t the best for Indian insurers, bogged by several regulatory changes and slowing in premium growth. However, company executives hope the situation would see some improvement in the next year, especially with some stability expected on new product guidelines and bancassurance. Read more

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. Read more

HDFC Life Insurance brings back Pension Planning

HDFC Life, one of India’s leading life insurance companies, has announced the launch of two pension plans. HDFC Life Pension Super Plus is a regular premium unit linked plan whereas HDFC Life Single Premium Pension Super is a single premium unit linked plan.  Read more