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Insurance Newsletter - June 07 to June 13, 2013

India Infoline News Service | Mumbai |

Private life insurers' first year premium collections increased 19% to Rs. 13.34bn in April 2013.

Top Stories

Reliance General to focus on weather, liabilities insurance in FY14

Private sector Reliance General Insurance said that it expects to grow around 20% in the current financial year.

Reliance General CEO Rakesh Jain said the company would focus on enhancing its top-line and bottom-line fronts. The non-life insurer would concentrate on weather and liabilities insurance to drive growth in the current fiscal. Read more...

SBI General eyes about 150% growth in gross written premium in FY14

SBI General CEO Bhaskar Sarma said that the company has earmarked a capital infusion of around Rs. 2.5bn this fiscal even as the non-life insurer hopes to start adding to its bottomline by 2014-15. The company plans to break even by 2014-15. Read more...

Max Bupa Health Insurance plans to add 12 more branches in FY14

Max Bupa Health Insurance said that it plans to expand from its current strength of more than 1,800 network hospitals, 21 offices in 13 locations and 9,500 agents for the current fiscal, according to a media report. Read more...

Private life insurers' YoY premium rises 19% in April

Private life insurers' first year premium collections increased 19% to Rs. 13.34bn in April 2013 compared to Rs. 11.25bn in the same period last year, according to IRDA (Insurance Regulatory and Development Authority) data. Read more...

Domestic News

MFs, insurers, pension funds may enter debt trading: SEBI

Market regulator SEBI (Securities and Exchange Board of India) on Thursday said that mutual funds, insurers and pension funds may be able to participate as trading members on the debt segment of exchanges. Read more...

IRDA to introduce new formula for persistency rates

ICICI Lombard, Healthspring tie-up to offer healthcare products

Reliance Life launches Smart Pension Plan

ING Life launches new retirement plan

HDFC Life launches 'ClassicAssure Plus' protection cum investment plan

Learning

Do you need a financial planner?

It is often said that Indians are good savers, but ‘poor’ investors. Indians usually lack the financial knowledge to plan for the long-term. They fail to save for their retirement but won't think twice before breaking their savings to splurge on a foreign tour, weekend home, etc. Read more...

What does opportunity cost mean for your finances?

Opportunity cost is a benefit or profit that you pass by to acquire or achieve something bigger. It is mostly used to analyse decisions that require allocation of money by companies or individuals.

For instance, you have a finite sum X which you need to invest among four stocks A, B, C and D. Let's say after a proper due diligence, you invest in stock A. After a month, prices of all four stocks increase. Read more...

International News

Pay $10,000-plus bill to renew flood insurance

Andi Walker based would have never bought a home in Jacob, the US if she keen she would have to pay more than $10,000 a year (approximately Rs. 5,80,000) for flood insurance, according to a media report.

Andi and her husband bought the house in November after securing flood insurance for $1,000 (around Rs. 58,000) a year, the report added. Read more...

New Appointment

Kotak Mahindra Pension Fund appoints Sandeep Shrikhande as CEO

Stan Beckers appointed CEO at ING IM

***Note: This is a BSE Chart

 

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