Insurance

A few players feel agents might lose touch with customers due to the online interface. Smaller insurers are worried about the additional costs involved in holding policies in an electronic form.

Public sector firms clocked 21% growth at Rs 34,113 crore, while private players reported 25% leap in premium over the previous fiscal with Rs 24,230 crore in gross collections.

The proposal aims to eliminate irregularities in sales. But a few industry experts say that actual implementation of this proposal may be difficult.

IRDA wants to reduce the cost of policy buyers. The move may complicate things further for insurance agents.

Changes in ULIP regulations impact LIC and private players; industry hopeful of recovery.

Advisors feel collecting details from clients could be a cumbersome task.

This is the second largest foreign investment in India’s insurance industry, as US partner exits to focus on domestic business

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In his address to the IRDA board of directors, the Finance Minister had plenty of advice for the regulator and industry to grow the business.

Life insurance industry head honchos feel that the ministry must review the tax norms announced in the budget.

The life insurers think that it will help the industry to report positive growth.

Public players report higher collection than private players for the month of February 2012.

The budget has made things more difficult for insurance agents as many money-back policies will be taxable from the next financial year.

The authority has modified some guidelines of reporting the business generated through bancassurance channel. Insurers have to abide by them from March 31, 2012.

Premium has to be 10% of sum assured to avail tax benefits, service tax hiked to 12%