Insurance News ME

India-Bancassurance contributes major chunk for private players

Chennai, June 29 The insurance sector has witnessed a phenomenal growth over the past few years. In 2007-08, growth in premiums was over 40 per cent. Many private players are growing at rates above 70 per cent. Insurance premium collections have touched 4.1 per cent of the GDP.

GIC plans to scale up overseas operations

India's designated reinsurer General Insurance Corporation (GIC) is on a drive to expand its global footprint. The public sector company intends to open a representative office first in Brazil in the current financial year and then later in China.

Insurers bet on rural, micro products

KOLKATA: The eighteen life insurance companies had a good time in the last fiscal year, clocking new business premium of almost Rs 93,000 crore. However, with cut-throat competition and a host of new players waiting to step in, the current fiscal will be a lot tougher.

Canara, HSBC and OBC life insurance co launched

Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd, a partnership between two nationalised banks -- Canara Bank and Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings Ltd, the Asian insurance arm of HSBC, today commernced operations

Future Generali to sell policies in malls

Future Generali, the insurance joint-venture between Kishore Biyani-led Future Group and Italian major Generali Insurance, today launched Mallassurance, a unique initiative to sell insurance policies at the malls.   

Aviva joins hands with IndusInd Bank

In an effort to create awareness on the importance of life insurance and financial planning among the people of Kerala, Aviva Life Insurance has joined hands with IndusInd Bank to launch a social responsibility initiative.

Birla Sun Life Insurance Ties Up With Quest Diagnostics

Quest Diagnostics will be the special provider of full-service medical screening and diagnostic testing of life insurance candidates.

Bajaj Allianz Life Insurance ties up with SKS Microfinance

Bajaj Allianz Life Insurance and SKS Microfinance have joined hands to launch a group insurance product for micro-finance organisations.

AIG fund arm eyes 40 pct growth in India in 2008

NEW DELHI, April 10 (Reuters) - The fund arm of American International Group Inc (AIG.N: Quote, Profile, Research) aims to outpace others as it grows in India despite market uncertainty, and is bullish on the infrastructure sector, a senior official said on Thursday.

Aegon Religare Life Insurance gets initial nod from IRDA

MUMBAI: Aegon Religare Life Insurance Company on Tuesday said that it has received the initial approval - R1 licence from the Insurance Regulatory & Development Authority (IRDA) to operate in the life insurance space.