Insurance Newsletter – August 05 to August 08, 2013

India's largest opposition party BJP wants foreign direct investment in insurance and pension funds to be capped at 26%.

August 08, 2013 6:27 IST | India Infoline News Service
Top Stories 

FM seeks support on Insurance, Pension Bills

India's largest opposition party BJP wants foreign direct investment in insurance and pension funds to be capped at 26%. In the insurance sector, the government proposes to increase the FDI (foreign direct investment) cap to 49% from 26%, which the BJP is opposing. The major opposition party is also against raising the FDI limit in the pension sector to 49%.  Read more...

Huge growth potential for Asian Reinsurance: Fitch

Fitch Ratings says that the robust development of insurance in Asia, coupled with the region's low contribution to global reinsurance premiums written and strong economic growth, underlines huge growth potential for reinsurance. Fitch says many Asian markets have low insurance penetration, in particular the untapped Chinese and Indonesian markets. Although Asia has been affected by an increase in the frequency and severity of natural catastrophes in recent years, there have been fewer events since 2011. Premium rates for regional reinsurance policies renewed during 2012-2013 have reached a plateau, except for some marginal rate increases for selected policies written on catastrophe-prone areas within Asia. Read more...

IRDA gives more time to cos to adopt standard proposal form?

Aviva plans to sell India life insurance stake?

Domestic News

FM ask details of LIC in Gitanjali Gems

The Department of Financial Services has asked details from Life Insurance Corporation (LIC) in relation to its investment in Gitanjali Gems?, according to a media report. Details have been sought after complaint received on the sharp fall in the stock price of Gitanjali Gems, the report added. Read more...

Canara HSBC OBC Life Insurance launches Shubh Labh

Canara HSBC Oriental Bank? of Commerce Life Insurance announced the launch of its first single premium plan – Canara HSBC Oriental Bank of Commerce? Life Insurance Shubh Labh. Shubh Labh is a unit-linked non-participating endowment life insurance plan that helps customers meet their protection and investment needs. The plan provides a life cover and helps the customers generate wealth by investing in the funds of choice. It caters to the diverse financial goals various people have, depending which stage of life they are in – it could be starting a family, planning retirement, or then simply wanting financial freedom. Read more...

New India Assurance, ICSI sign MoU

New India Assurance has signed an agreement with Institute of Company Secretaries of India (ICSI) to provide an exclusive portal for members, students and employees of the Institute. Under the MoU, the general insurer would provide a portal, which can be accessed through a link in the institute website, New India Assurance said in a release. Read more...

IRDA issues norms for agents training institutes?

India ranked lowest in basic money mgmt skills: MasterCard?

PFRDA defers plan to hire media firm to popularise NPS?


Healthcare financing for medical professionals

What does a doctor do if he needs to expand his business or purchase a very expensive medical equipment. Does he take recourse to a home loan, mortgage loan or personal loan or is there a loan which is tailored to meet his professional needs. A number of financial institutions now provide healthcare financing. If you are a doctor or healthcare professional and looking to expand your business, the article will guide you on the requirements needed to avail of such a loan. A new loan product, healthcare finance is offered by banks and non-banking financial companies to doctors, medical practitioners, limited companies, private hospitals, eye and diagnostics centres, pathology laboratories, nursing homes, medical and dental colleges. Read more...

International News

G2 Insurance - First Insurance Brokerage in N. California to Receive B Corp Certification

G2 Insurance Services is proud to announce that it recently became the first full-service insurance brokerage firm in Northern California to become a Certified B Corporation. By voluntarily meeting higher standards of performance, transparency and accountability, Certified B Corporations are raising the bar of social responsibility for companies around the world. Since its founding G2 has been committed to providing the finest insurance expertise and service, while continuously challenging current industry practices and maximizing social impact. “We have a unique approach to building a business—we focus on building a community. We really believe it's important to create value for society, not just shareholders, so it's gratifying to see this belief validated with a B Corp Certification,” said Jason Goldman, a Principal at G2. Read more...

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