Four state-owned non-life insurers - National Insurance Company, New India Assurance Company, Oriental Insurance Company and United India Insurance Company - are moving towards floating a common health insurance claims settlement agency or third party administrator (TPA).
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The Insurance Regulatory and Development Authority (IRDA) has asked 14 life insurers to defy the ban imposed by the Securities and Exchange Board of India (SEBI) on selling unit linked insurance policies (ULIP).
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Shares of Dai-ichi Life Insurance Co, Japan's second-largest life insurer, surged 14 percent to 160,000 yen ($1,713) when they made their debut on Thursday on the Tokyo Stock Exchange after the nation's largest initial public offering (IPO) in more than a decade.
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Delivering a knock out punch to the Securities Exchange Board of India (SEBI), the government through a ordinance issued late Friday, has unequivocally declared that unit linked insurance policies (ULIPs) are part of the life insurance business.
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