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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
The life insurance industry continues to face the menace of mis-selling. Even the finance minister publicly admonished insurers on the practice. The industry recorded a degrowth of insurance premium in 2011-12, while insurance penetration slipped to 3.40 from 4.60 in 2009. It is evident that no serious attempt has been made to find a way out. Read more
After almost three years of slowing growth and high inflation, signs are emerging that there will be an improvement on both the fronts. The GDP growth numbers appear to have bottomed out. Most estimates are indicating a pickup in growth to 6.5-7% levels.Inflation numbers have also surprised positively over the last three months and this augurs well for the consumer.
Leading life insurance companies such as HDFC Life, Birla Sun Life and ICICI Prudential have shown interest in purchasing HSBC’s stake in its three-cornered JV with two public sector banks. Read more
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
He was polite, helpful and knowledgeable, and Delhi-based Anita Sinha had no reason to suspect the bank representative who came to pick the premium cheques for her insurance policies. “He advised me to include my younger daughter as a nominee as well,” she says. Little did Sinha realise that she was walking into a trap.
Despite a slowdown in the life insurance sector, sales of online term plans are booming. Nearly 55,750 term policies were sold in the past six months, an average of one policy in every five minutes. Whereas in 2011-12, nearly 49,500 plans were sold. Read more
This year’s award ceremony witnessed 491 companies file nominations out of which 200 Finalists assembled at the awards ceremony. Read more
Vibha joined HDFC Life in 2008 as CFO and has been a part of the top management team and Executive Committee.
Read moreThe Insurance Regulatory and Development Authority (IRDA) is looking at making insurance policies more investor-friendly by introducing tax exemptions on insurance policies. Read more