Insurance sector recorded AUM of Rs 74.44 lakh crore, premiums of Rs 11.93 lakh crore in FY25: DFS Secretary
He further said the total reinsurance market in India stood at Rs 1.12 lakh crore in 2024–25.
He further said the total reinsurance market in India stood at Rs 1.12 lakh crore in 2024–25.
The market outlook for next week will be guided by several global and domestic factors such as q4 results, inflation data and updates on tariffs.
Over 80% of the health insurance policyholders believe that there are delays in claims which are intentional, designed to pressure policyholders into accepting lower claim amounts.
A part of West Bengal, especially South 24-Parganas was severely affected by cyclone Remal.
For the first time, the ministry of road transport (MoRT) and Highways issued a notification on new premium rates for motor third-party insurance coverage for vehicles for the financial year 2023-24, without any hike in premium amount.
According to the IRDAI, to ensure sufficient reinsurance capacity in India and to attract more players for offering reinsurance at a competitive price, the free movement of assigned capital for foreign reinsurance branches is required.
According to the expert, the world over, there is multiple insurance data analytics companies providing competitive services to insurers.
A penalty of ₹1 crore recommended due to the repetitive nature of non-compliance by the private sector insurer by the officer.
Post demerger, Bharti AXA General Insurance will cease to be a going concern and both Bharti and AXA will be public shareholders.
It is mandatory for general and health insurers to provide the reimbursement-based standard COVID-19 product, while offering the benefit-based product is optional for all insurers.
