Despite the economic slowdown, the insurance sector of the country has recorded a substantial growth rate in premiums, as per the data. In general insurance, the spurt is primarily because of two reasons, the increase in motor third party insurance rate and the hefty spot penalties by traffic polices as per the new Motor Vehicles Act for failure to possess vehicle insurance.

The rise of 35% at Rs. 125,758 crore was recorded in the life insurance premium of all 24 players in the April – September quarter of the FY 20, according to the Life Insurance Council. In the first six months of the ongoing fiscal the new premium collected by LIC Zoomed 42% to Rs. 89,980 crore. For the rest of the private sector players, the cumulative premium till September 2019 rose 21 per cent to Rs. 35,778 crore, the data showed.

Reliance General Insurance has decided to wiDespite the economic slowdown, the insurance sector of the country has recorded a substantial growth rate in premiums, as per the data. In general insurance, the spurt is primarily because of two reasons, the increase in motor third party insurance rate and the hefty spot penalties by traffic polices as per the new Motor Vehicles Act for failure to possess vehicle insurance.

thdraw its proposed initial share sale offer. The initial public offering (IPO) was slated for the fresh issue of shares worth Rs. 200 crores, besides as offer of sale of 79,489,821 shares by Reliance Capital. Markets regulator SEBI had received draft red herring prospectus for the proposed IPO on February 8 through lead manager (LM) of the issue Motilal Oswal Investment Advisors.

The merger of 3 insurance companies (United India Insurance Co. Ltd, National Insurance Co. Ltd and Oriental Insurance Co. Ltd) is expected to be completed before 31.03.2020 and new entity will start operations from 01.04.2020.

Happy reading

Thanking you for the opportunity given to serve you,

Yours faithfully

For Link-K Insurance Broker Co. (Pvt.) Ltd

V.P. Mohankumar

Principal Officer and Managing Director