Bajaj Allianz General Insurance in collaboration with Jankidevi Bajaj Gram Vikas Sanstha distributes 17 advanced life support ambulances in 17 citiesThe Company’s Savings Lives initiative was executed in response to the impact from the second wave of the Covid-19 pandemic which required the society to come together in “Saving Lives”...
Max Life Insurance’s death claim settlement jumps 33 pc
New Delhi: Max Life Insurance on Tuesday reported a 33 per cent jump in death claim settlements to over Rs 885 crore for the financial year 2020-21. The private sector insurer said its claim settlement ratio also touched an all-time high at 99.35 per cent during the year. It represents...
State Bank launches SBI Kavach personal loan scheme for corona treatment
New Delhi: State Bank of India has started the scheme of giving loans to those account holders who need money for the treatment of Covid-19. Under the SBI Kavach Personal Loan Scheme, loans are being given to the account holders or their family members for the treatment of corona. If...
New India provides for Rs 102 crore for dues from state governments
Chennai: Government-owned premier non-life insurer New India Assurance Company Ltd has provided about Rs 102 crore last fiscal towards doubtful debt for the dues from the governments of Rajasthan, Karnataka, and Arunachal Pradesh. According to New India, an amount of Rs 120.09 crore was withheld/deducted by the Rajasthan government under...
LIC to have five working days starting from May 10
New Delhi: State-owned LIC will have five working days starting from May 10 since Saturdays have been declared as a holiday for the insurer. Pursuant to a notification on April 15, 2021, wherein the central government has declared every Saturday as a public holiday for Life Insurance Corporation of India,...
Bajaj Allianz General Insurance launches ‘Criti-Care’ – A one of its kind, modular Critical Illness Policy
Covers 43 Critical Illnesses, both initial and advanced stagesModular product allowing selection of waiting period, survival period and coverage from either or all 5 sections: Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care & Sensory Organ CareAdditional benefits like Dialysis care, Physiotherapy care, etc. in-built in the policy...
Term insurance will be expensive from tomorrow
The premium for term insurance plans is expected to increase by 10 to 15 percent soon. While some insurers have increased the premium in recent months, some others are expected to do so by April 2021. Indranil Chatterjee, Co-Founder and Principal Officer, RenewBuy, said that most insurance companies post term...
LIC’s IPO will give Rs 1 lakh crore to central government
New Delhi: In the general budget presented for the financial year 2021-22, Finance Minister Nirmala Sitharaman set a target of raising Rs 1.75 lakh crore through disinvestment. Chief Economic Advisor KV Subramanian said the disinvestment target of Rs 1.75 lakh crore for FY21-22 is achievable. Subramaniam said that the central...
LIC will increase its authorized capital for listing
In order to make LIC's listing easier in the next financial year, the government is set to increase the company's authorized capital to Rs 25,000 crore. Currently, the paid-up capital of the company is Rs 100 crore with 29 crore policies. Explain that the company started the business in 1956...
Expectation of investment of three thousand crores in public sector general insurance companies
New Delhi: Government may consider to privatize Oriental Insurance or United India Insurance Company. People with knowledge about the matter said that the government can consider their privatization as their financial health has improved after the capital investment. To further strengthen their financial health, the government is expected to invest...