Life January 2019
Council’s views to be sought on life insurers’s appeal to offer indemnity cover :
The IRDAI will seek viewpoint of the life and general insurance councils before making decision on the appeal of life insurers in order to offer indemnity based health plans.
In an aim of launching indemnity or reimbursement based health insurance, the life insurers have sought permission from the regulator.
Non life companies feel that allowing life insurers to offer indemnity based plans will increase competition further in the market and the issue will be kept in mind while making a decision by IRDAI.
LIC offloads 2% stake in GSK pharmaceuticals :
LIC has sold nearly 2 per cent stake in Glaxo smithkline (GSIC) Pharmaceuticals, which saw stocks falling nearly 1% on the bourses. Following the stake sales, LIC holding in GSK Pharmaceuticals reduced to 5.99% from 8% earlier.
LIC records 137.8% policy growth in November :
LIC has registered an increase of 137.87% in policies in November, with record sales of 34.08 lakh policies. By outperforming the industry growth rate in number of policies as well as new business premium income, LIC has registered a significant increase in market share in the current fiscal.
Number of women buyer steadily rising for life insurance : IRDAI report :
As per the report, the share of women has increased to 36% in the number of policies and 37% in the first year premium in FY 2018-19 as compared to 32% on both the counts in FY 2017-18.