Features

Irdai to launch portal for health insurance plans information

With a view to bring all relevant information regarding health insurance policies at one place, Irdai chairman T S Vijayan will launch here tomorrow a portal 'Registry of Hospitals in Network of Insurers' (Rohini). The portal will be having all the information like treatment facility, cost of treatment and cost of claims among others relating to the 35,000 hospitals, which are registered by Irdai-promoted Insurance Information Bureau (IIB).

‘Indian control’ norms hurt insurers' valuations

The valuation of a financial services firm is usually a straightforward business as there are ample benchmarks available. But in the case of insurance, a host of issues are queering the pitch for arriving at a value appropriate for a stake sale. Primary among his is the issue of Indian-owned and controlled', which is among the softer aspects of negotiations outside he hard numbers. By January, each of the 24 life insurance companies will have to rework their joint venture agreements to ensure that they are in compliance with the norms pertaining to Indian management.

Despite underwriting profit, liability insurance yet to grow

The domestic liability insurance market is still underdeveloped with a paltry penetration of 0.01 percent of GDP even though underwriting profits have remained strong, says a report. India is the sixth largest liability market in Asia with an estimated premia of USD 254 million in 2014. Liability insurance is a part of the general insurance system of risk financing to protect the insured from the risks of liabilities imposed by lawsuits and similar claims.

Nippon Life Insurance hikes stake in Reliance Life to 49 percent for Rs. 2,265 crore

Japan’s Nippon Life Insurance will increase its stake in Anil Ambani’s Reliance Life Insurance from 26 percent, to 49 percent for Rs. 2,265 crore. The transaction pegs Reliance Life Insurance’s valuation at about Rs. 10,000 crore. Nippon Life Insurance has so far invested an aggregate of Rs. 5,327 crore for acquiring 49 percent of Reliance Life Insurance.