General Insurance Council mediates between insurers, Irdai over ‘aggressive’ growth figures The General Insurance Council is mediating between non-life insurers and Irdai over the regulator’s suggested growth figures, which some companies feel are “hugely stretched targets”. The Insurance Regulatory and Development Authority of India (Irdai) has circulated “tentative targets” for growth to all insurers to increase insurance penetration. This is the first time Irdai has prescribed premium growth guidelines for individual companies, a move that surprised the industry. The regulator has suggested increasing the collective premium for non-life insurance companies to Rs 11.73...
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General Insurance Corporation of India General Insurance Corporation of India (GIC Re) — перестраховочная компания Индии, создана в 1972 году, штаб-квартира в Мумбай. 85,78 % акций принадлежит правительству Индии, 8,42 % — Life Insurance Corporation of India. Кроме Индии работает в России, ЮАР, Малайзии, Бутане, Великобритании и Сингапуре. В списке крупнейших публичных компаний мира Forbes Global 2000 за 2020 год компания заняла 1909-е место (1576-е по размеру выручки, 1720-е по чистой прибыли, 1434-е по активам) В 1956 году все 245 работавшие на тот момент компании Индии по страхованию жизни были национализированы и объединены в Life Insurance Corporation of India (...
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Bharti AXA’s non-life insurance business is set to merge with ICICI Lombard General Insurance, in what will end up creating the country’s third largest non-life insurance company. “The board of directors of ICICI Lombard General Insurance Company and Bharti AXA General Insurance Company at their respective meetings held today, approved entering into definitive agreements for demerger of Bharti AXA’s non-life insurance business into ICICI Lombard through a Scheme of Arrangement,” the companies said in a statement on Saturday. Based on the share exchange ratio recommended by independent valuers and accepted by the respective boards of the companies, the shareholders of Bharti AXA will receive...
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Bharti AXA’s non-life insurance business will merge with ICICI Lombard ’s general insurance business through a scheme of arrangement, said the companies in a statement to the exchanges. While the financial details were not disclosed, sources said that the deal values Bharti AXA General at around Rs 2,700 crore. Moneycontrol reported about this deal on July 29. Based on the share exchange ratio recommended by independent valuers and accepted by the respective boards of ICICI Lombard and Bharti AXA, the shareholders of Bharti AXA shall receive two shares of ICICI Lombard for every 115 shares of Bharti AXA held by them as on the date on which the scheme is approved by the board. When the...
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In a major consolidation move in the insurance space, ICICI Lombard General Insurance has announced signing a definitive agreement to acquire Bharti Enterprises-promoted Bharti AXA General Insurance in all stock transaction. The proposed Rs 4,600-crore deal will propel ICICI Lombard General Insurance to become the third largest player among non-life insurers. The board of ICICI Lombard General Insurance "at its meeting held on August 21, 2020, considered and approved a 'scheme of arrangement' amongst Bharti AXA General Insurance (demerged company) and former company and their respective shareholders and creditors", the ICICI Bank promoted non-life insurer said in a late night filing on...
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ICICI Lombard General Insurance will acquire Bharti Enterprises-promoted Bharti AXA General Insurance through a share swap deal. Bharti Enterprises currently owns a 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA holds 49 per cent. The board of ICICI Lombard General Insurance "at its meeting held on August 21, 2020, considered and approved a 'scheme of arrangement' amongst Bharti AXA General Insurance (demerged company) and former company and their respective shareholders and creditors," the ICICI Bank promoted non-life insurer said in a late-night filing on Friday. The shareholders of Bharti AXA will receive 2 shares of ICICI Lombard for every 115 shares of...
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Promoter ICICI Bank Ltd holds 51.89% stake in ICICI Lombard, while the rest is with the public Photo: (Pradeep Gaur/Mint) ICICI Lombard, Bharti AXA to merge general insurance businesses 3 min read . Updated: 22 Aug 2020, 09:48 AM IST Anirudh Laskar Based on the share exchange ratio recommended by independent valuers, shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares they hold Mint on 11 August had reported that ICICI Lombard General Insurance, India’s largest private non-life insurer, is in advanced talks to acquire Bharti AXA General Insurance and merge the insurance assets of the two companies. Following board meetings on Friday, a scheme of...
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Covid-19: Health insurance is your best bet against steep medical costs A health insurance policy will not only make it easier for you to get proper medical facilities, but also save you from emptying your financial reservoirs. brand-stories Updated: Aug 13, 2020 14:29 IST Reliance General Insurance offers a slew of unique benefits as part of its policy, so that you can allay your fears about healthcare in these stressful times(Shutterstock) It’s been a few months since the world woke up to the realization that a pandemic was underway. Although a few countries have managed to flatten the curve, the virus is still raging in India. Pharmaceutical giants are racing against time to...
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With this added facility, the premium installment option can be availed on a monthly, quarterly, half-yearly, and annual basis as per the policyholder’s requirements. Bajaj Allianz General Insurance today announced a premium installment facility available with their health insurance product ‘Health Guard’. Health-Guard insurance policy is available on both individuals as well as family floater basis. With this added facility, the premium installment option can be availed on a monthly, quarterly, half-yearly, and annual basis as per the policyholder’s requirements. Experts say, introducing the option to pay premiums through installments will make health insurance policy more...
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As the insurance sector competes to win market share, Henry Jinman at discusses three ways companies can benefit from the power of Artificial Intelligence… The UK general insurance market continues to be fiercely competitive. While the battle for repeat business keeps downward pressure on pricing, a constantly changing regulatory agenda increases costs. Whatever the industry, successful companies know that building a business based on price alone is not sustainable. Customer service is what matters most. It’s a sentiment that is reflected in the latest findings of multinational professional services company Ernst & Young (EY). It claims that non-life insurance companies in...
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