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Liberty Videocon General Insurance Company recently said it will scale up its branch count in India to 45 by 2015 and is targeting Rs 100-crore premium collection in the first year of operations.
It’s going to be a new ball game, albeit limited, for third party administrators (TPAs), entities that act as an intermediary between insurers and policyholders in processing insurance claims. Under the new set of health regulations laid down by the Insurance Regulatory and Development Authority (IRDA), the functions and roles of TPAs have been clearly defined, which on the face of it look more restrictive than earlier. Read more
Liberty Videocon General Insurance, the newest entrant in the general insurance space, is targeting a premium collection of Rs 120 crore by December 2013. Read more
Liberty Videocon General Insurance, a joint venture between Videocon Industries and the US-based Liberty Mutual Insurance Group, is the newest (27th) entrant to the general insurance segment in India. In his first interview after becoming chief of the company, Roopam Asthana, director and chief executive officer, tells M Saraswathy they would like to move with caution for now. Edited excerpts: Read more
New players are eyeing a pie of India’s INR2.21 trillion (US$40.2 billion) insurance industry following the Cabinet’s approval last month to raise foreign direct investment (FDI) cap in the sector from the current 26% to 49%, reported the Hindustan Times. A partner of KPMG was quoted as saying that there is room for some 15 more players in the sector, going by the current low penetration of insurance products in the country. Read more
New players are eyeing a pie of India’s R221,400-cr insurance industry following last month’s Cabinet’s approval to raise  foreign direct investment (FDI) cap in the sector from the current 26% to 49%.
While Magma HDI General Insurance and Liberty Videocon General Insurance have commenced operations, Avantha group  has entered into a joint venture with Germany’s Ergo Insurance Group to form Avantha Ergo Life Insurance. Read more