Bharti Axa General Insurance is hopeful of trimming its underwriting losses in the next financial year and increasing the investment income, a top executive said. Read more
Finance Minister P Chidambaram said banks would be allowed to act as insurance brokers to increase insurance penetration in the country despite concerns expressed recently by the banking regulator against such a move. Read more
Get ready to pay more for your health or motor insurance covers if you have made a claim in the past. Read more
Soon you may be able to get tax deduction on buying an insurance plan for your home or a personal accident cover. The finance ministry is considering a proposal to give additional tax benefits for purchasing these general insurance policies. Read more
Private sector general insurer Bharti AXA, which has crossed Rs 1,000-crore gross written premium mark for 2012, said it will come up in new products in commercial line.Â “In four years of operation, we have reached Rs 1,000 crore of gross written premium. Going ahead, we will concentrate on new products in the commercial line along with focus on southern and eastern region for future business growth,” Chief Executive Officer of Bharti AXA General Insurance, Amaranath Ananthanarayanan told reporters here. He said the company is light on commercial line, which was a deliberate policy of the company due to low premiums. Read more
The government along with the industry will prepare a road map for improving penetration of the general insurance in the country which is less than one per cent, a senior official said.
“Our (general insurance) penetration rate is low. It is 0.7 per cent. How do we improve it to average standard which is 1.5 to 4 per cent? The road map is to be prepared by all of us”, Financial Services Secretary D K Mittal said.
He was speaking to reporters after meeting of the representatives of the general insurance industry with Finance Minister P Chidambaram. Read more
Experts say the frequency of claims in fire is much lower than in other areas of insurance Read more