Third party motor insurance premium may rise further
Lakhs of vehicle owners across the country may have to pay more for buying the mandatory insurance cover — third party motor cover — for their vehicles. Read more
G Srinivasan
General insurance industry may grow by 20% annually
The Indian general insurance industry is likely to grow by around 20 per cent per annum in the coming years because of increasing penetration, a top official of New India Assurance said. Read more
Up to 35% cars on Indian roads without insurance
Almost a third of cars and more than two-thirds of two-wheelers on Indian roads do not have even the mandatory third-party liability insurance, according to an analysis by insurance companies. Worse, many companies have found fake motor insurance policies in circulation. Read more
New India Assurance H1 net more than doubles to Rs 205 cr
Public sector general insurer New India Assurance’s net profit more than doubled to Rs 205 crore in the first half of the current fiscal on the back of sound growth in personal and retail lines along with higher premium in motor third party insurance segment. Its net profit stood at Rs 95 crore in the same period of the previous fiscal. Read more
Interview with G Srinivasan, Chairman and MD, New India Assurance Co. Ltd.
G Srinivasan, who recently assumed office as chairman and managing director of New India Assurance, the state-owned general insurance company, has a long list of dos and don’ts for the company and the sector. In an interview with M Saraswathy, he shares his ideas and plans. Edited excerpts: Read more
PSU general insurers to set up a common TPA to settle medical claims
State-run general insurance companies are setting up a common third-party administrator to settle medical insurance claims, a  move aimed at trimming their unwieldy claims ratio and boosting profitability.
The claims ratio, or percentage of claims to the premium earned, of these public sector companies in health insurance is over  120% and they blame third-party administrators (TPAs) for their spiraling losses in the segment. Read more
G Srinivasan will be the new CMD of New India Assurance
Mr. G Srinivasan, former Chairman cum Managing Director (CMD) of United India Insurance Company Ltd, will now take over as the CMD of New India Assurance. After the suspension of Mr. M Ramadoss in 2011, there was no chairman at New India Assurance for more than a year. Read more
Health Insurance News: Few takers for medical portability
It’s been almost a year since health insurance portability came into force, but not many switchovers have happened in the last 12 months. “While the portability system has stabilised, in terms of switchovers, it has not been that significant,” G Srinivasan, chairman and managing director, United India Insurance, said. Read more
United India Insurance launches mobile premium payment facility
Public sector United India Insurance has become the first in the country to offer customers a facility to pay their premium through mobile phones, a top company official said today. Read more