Tata AIA Life Insurance (Tata AIA) has launched its offshore branch at Gujarat International Finance Tec-City (GIFT City), India's first International Financial Services Centre (IFSC). It allows the company to offer US Dollar-denominated life insurance products to Non-Resident Indians (NRIs) through its dedicated website.
SBI Life Insurance, one of India's most trusted life insurance companies, has partnered with the Paralympic Committee of India (PCI) as a Gold Sponsor for the Paris 2024 Paralympic Games starting on 28th August 2024 in Paris.
Life Insurance Corporation of India (LIC) has launched a new plan called LIC's Digi Term for online customers and LIC's Yuva for offline customers. It is a non-par, non-linked, life, individual, pure-risk plan that provides financial protection to the insured's family in case of his/ her unfortunate death during the policy term.
Tata AIA Life was ranked sixth in the Global Million Dollar Round Table (MDRT) rankings for 2024.
India's top life insurer, Life Insurance Corporation of India (LIC) has partnered with strategy consultant A T Kearney to undertake an agency transformation project aimed at future-proofing its 1.4m agents to meet the rapidly evolving needs of customers.
India's life insurance sector saw a 14.8% y-o-y increase in premiums in June 2024, reaching INR42,434 crore ($5bn), with significant improvements in both premium collections and policy issuances. The performance highlights a strong and growing demand for life insurance in India.
Shriram Life Insurance has declared a bonus of INR2.01 billion (US$24 million), up 35% from INR1.49 billion year-on-year (YoY) on the back of robust growth in premium income.
Bajaj Allianz Life has unveiled a compelling campaign aimed at addressing the fundamental issue of underinsurance.
The Insurance Regulatory and Development Authority (IRDAI) has reportedly discussed with the CEOs of life insurance companies to do away with the high upfront commission of life insurance agents in the first year.
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from 1 April 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65.
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