Pvt. Execs can search jobs in Govt. General Insurers
Senior executives of private insurance companies, bureaucrats and officials of IRDAI can now apply for the post of Chairman Read more
Government
Govt ponders 100% FDI in insurance broking
The government is considering exempting insurance intermediaries, including brokers, from the FDI limit. The insurance regulator had at some Read more
Government to ensure refiners running Iran crude get insurance: Source
India will ensure its refiners have insurance for plants that run crude from Iran, a government source said recently, allaying fears that imports from the sanctions-hit country may have to be halted. Read more
Government to soon launch social security insurance scheme
A social security insurance scheme for the unorganised sector is likely to be the next big announcement the government will make as part of its inclusive politics agenda in the run-up to the 2014 general elections. Read more
Over 60% worry about rising retirement healthcare expenses in five key markets in Asia- Swiss Re
The world’s ageing population continues to expand, as scientific and medical advancement enables people to live longer. This presents enormous challenges for government and society, as well as the insurance industry.
Insurance Bill likely in current session: Government
The government is likely to introduce amendments to the Insurance Bill in the current session for raising FDI cap in private sector insurance companies to 49 per cent, Parliament was informed. “…the official amendments to the (Insurance) Bill is likely to be introduced in the current session of Parliament. Read more
Government ups LIC equity buy limit to 30%, eyes disinvestment target
Hard pressed to meet the Rs 30,000 crore disinvestment target, the Finance Ministry today permitted the state-owned Life Insurance Corporation (LIC) to invest up to 30 per cent in a company as against the earlier ceiling of 10 per cent. Read more
Insurance News: Government to push insurance, banking Bills in Winter Session
The government proposes to push through key economic reforms Bills in sectors like insurance, pension and banking in the forthcoming Winter Session of Parliament which begins. Insurance Bill, that seeks to raise foreign direct investment (FDI) cap in the sector from 26 per cent to 49 per cent figures in the list of official business for the session. Read more
General Insurance: Government, industry to prepare road map boosting general insurance
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