General insurer Future Generali India aims at a business of Rs.3,000 crore in the next three years with an expected growth rate of 15-20%.
The board of Insurance Regulatory and Development Authority of India (IRDAI) is likely to meet on June 30 to accord its final approval (R2) to some foreign reinsurers to set up branches in India.
Fired by a swelling middle class and rapid increase in insurance coverage, China’s insurance sector last year posted its best performance since the global financial crisis in 2008, with profits surging over $47 billion, the country’s insurance regulator said.
Chinese car-hailing app Didi Chuxing said on Monday it had received an investment of about $600 million from China Life Insurance Co Ltd, boosting resources to fund its battle with Uber just a month after it raised $1 billion from Apple Inc.
The National Insurance Commission (NAICOM) has uncovered insurance scams perpetrated by some registered, unregistered insurance brokers and underwriters in conjunction with various state governments.
A parliamentary committee is preparing to draft new insurance laws, but has not yet started work, according to senior insurance company officials.