Private life insurance company Aegon Life has rolled out a life insurance cover meant to protect surrogate mothers and egg donors, which provides a life cover for a period of three years for surrogate mothers and one year for egg donors.In case of a surrogate mother’s death due to life-threatening complications during pregnancy and post partum, her nominees will be entitled to the sum assured under the policy. Premiums will have to be borne by the couples intending to walk down t

Private life insurance companies are expected to continue their strong growth momentum this fiscal, though margins may remain under pressure as the focus shifts to higher distributor payouts and investments in stepping up new channels, analysts say. Life insurers posted healthy growth in annualised premium equivalent (APE) in the fourth quarter of FY23, aided by customers rushing to buy high-ticket, non-unit-linked savings products ahead of withdrawal of tax exemptions from April 1.

ighlights Premium growth higher than the industry, gains market share Robust health insurance growth, tepid growth in motor segment amid stiff competition Combined ratio declines due to fall in claims ratio even as expenses ratio remains elevated Strong growth in retail health agency channel, bancassurance gains traction Product mix changes in favour of health, will drive future profitability Valuations rich but sustainable, given superior franchise ICICI Lombard General Insurance (CMP: Rs

The rider benefit offers up to a 40 percent renewal discount or cash-back to policyholders with limited car usage. This is applicable to the own damage component, and not the mandatory third-party insurance elementNow you can switch off your insurance cover if your car is not in use and save on premiums.Private general insurer Kotak Mahindra General Insurance has rolled out ‘Meter’, a motor insurance add-on, or rider benefit, that allows policyholders to link their mot

Settling motor insurance claims without understanding the basics of your policy can be a difficult feat. But with a little preparation and foresight, you can avoid last-minute troubles and ensure that your claim is settled swiftly.Motor insurance is a way to avoid financial strain in the face of an accident or damage involving a vehicle. It can cover the cost of repairs or replacement of the vehicle and any medical expenses incurred by the driver or passengers.In a hea

Retail health and motor premiums won’t go up due to rise in global reinsurance rates as these are retained by insurers themselves, but fire and engineering might climb due to rise in reinsurance premiums, says Kishore Kumar Poludasu.The insurance industry has witnessed a flurry of regulatory changes since Insurance Regulatory and Development Authority of India (IRDAI) Chairman Debasish Panda took charge in March 2022.The revamped expenses of management (EoM) and commis

Eight out ten customers looking for customization are willing to pay for additional premium, private general insurer Future Generali’s study showedFuture Generali India Insurance company has announced the launch of its health insurance product – DIY Health – which comes with multiple rider benefits.Rider benefits are optional covers that policyholders can buy by paying additional premiums. According to the company, besides the base features, the DIY health insurance pr

IRDAI asks insurers to settle Odisha train accident claims proactively, publish claims-related information on their website on a daily basis for a week, and later, on a weekly basis for a month.The Insurance Regulatory and Development Authority of India (IRDAI) has asked all insurance companies – life, non-life and standalone health insurance companies – to proactively process, simplify and fast-track settlement of claims related to the triple train crash in Balasore district of