Should Railways go in for Insurance Cover?
Indian Railways used to have group accident policy to cover accidental deaths due to accidents.
In 2009 they stopped buying the insurance- which means they went in for option of self insurance.
Claims of the order of Rs.150 crores per year have been paid in the recent years.
Is it happening at the cost of Tax Payer’s Money?
As a Corporate Governance exercise the Railways should go in for insurance?
Friday, July 29, 2011
Sunday, July 24, 2011
Profit Rule for Life Insurance IPO’s Is Scrapped
Profitability of the Life Insurance Companies was one of the important conditions for coming out with IPO’s. The profitability figure for some of the Insurance Co’s is:
The insurance regulator has scrapped the minimum three-year profitability clause for life insurers to float initial public offerings. This is good news for many companies that would have struggled for a long time for raising the capital.
With this move we can expect more and more life insurance companies to come out with IPO’s and this will give a good boost / growth to Life Insurance Company.
With this move we can expect more and more life insurance companies to come out with IPO’s and this will give a good boost / growth to Life Insurance Company.
Saturday, July 16, 2011
PSU's still retain 59% market share of Indian health insurance market (2010-11) of Rs.11145 crores
PSU's still retain 59% market share of Indian health insurance market (2010-11) of Rs.11145 crores.
The health insurance figures for the year 2010-11 are available and PSU's have achieved premium figure of Rs.6578.64 crores vs Rs.4949.67 crores(2009-10). This is 59.02% market share vs 59.09% market share which was achieved during last year.
Health Insurance Premium of Indian Insurance Companies 2010-11 vs 2009-2010
You will notice that every company has shown growth in business with exception of Chola.
Growth during the year of this portfolio is 33.05% and 5 top insurance companies and their market share are:
ICICI Lombard deserves appreciation for taking up 4th position as a result Oriental is now at 5th position in the list. Star Health has crossed figure of Rs.1000 crores by touching figure of Rs.1232.44 crores.
Our comment is- health insurance is the fastest growing segment but even then a lot is to be achieved as we have large population and it needs to be covered.
The health insurance figures for the year 2010-11 are available and PSU's have achieved premium figure of Rs.6578.64 crores vs Rs.4949.67 crores(2009-10). This is 59.02% market share vs 59.09% market share which was achieved during last year.
Health Insurance Premium of Indian Insurance Companies 2010-11 vs 2009-2010
You will notice that every company has shown growth in business with exception of Chola.
Growth during the year of this portfolio is 33.05% and 5 top insurance companies and their market share are:
Our comment is- health insurance is the fastest growing segment but even then a lot is to be achieved as we have large population and it needs to be covered.
Some are going & some are coming
Some are going & some are coming.
Bharti group sold Bharti AXA (both life & non Life) to RIL (Mukesh Ambani Group). DLF Pramerica is being sold to HCL (Shiv Nadar Group). Future Generali (Kishore Biyani Group) is looking for buyers for both of its companies.
After tasting the attraction of Insurance sector many well known names /business houses have decided to leave.
At the same time some are getting in this sector. Mahindra & Mahindra is entering non life business. . Magna is also entering non life. Edelweiss is entering Life business.Religare Health should be operational in near future.
Delegations of many foreign companies have been visiting India frequently and have been looking for partners. Some of these are:
Cigna
United
Discovery
Samsung Fire & Marine
….
Let us welcome those who are entering and bid goodbye to those who have left.
Bharti group sold Bharti AXA (both life & non Life) to RIL (Mukesh Ambani Group). DLF Pramerica is being sold to HCL (Shiv Nadar Group). Future Generali (Kishore Biyani Group) is looking for buyers for both of its companies.
After tasting the attraction of Insurance sector many well known names /business houses have decided to leave.
At the same time some are getting in this sector. Mahindra & Mahindra is entering non life business. . Magna is also entering non life. Edelweiss is entering Life business.Religare Health should be operational in near future.
Delegations of many foreign companies have been visiting India frequently and have been looking for partners. Some of these are:
Cigna
United
Discovery
Samsung Fire & Marine
….
Let us welcome those who are entering and bid goodbye to those who have left.
CORIS Gipsa TPA JV is not coming
CORIS Gipsa TPA JV is not coming.
There were indications that CORIS Gipsa TPA JV will become operational by end of 2011 and as a result of the same New/National/Oriental/United (4 PSU’s) will shift their TPA work to the new company.
Tenders were floated and Coris, a French company was selected. Suddenly we find that JV is being dropped. Tendering/Selection process has come under cloud and it was decided by the high ups to avoid negative publicity by dropping this JV.
May be it is the end of the JV idea. Let us wait & watch.
There were indications that CORIS Gipsa TPA JV will become operational by end of 2011 and as a result of the same New/National/Oriental/United (4 PSU’s) will shift their TPA work to the new company.
Tenders were floated and Coris, a French company was selected. Suddenly we find that JV is being dropped. Tendering/Selection process has come under cloud and it was decided by the high ups to avoid negative publicity by dropping this JV.
May be it is the end of the JV idea. Let us wait & watch.
Monday, July 11, 2011
Emphasis is needed on preventive cure
Emphasis is needed on preventive cure.
More and more emphasis needs to be put on preventive cure to reduce hospitalization claims. We always thought that good hygiene is important for healthy life but correlation of brushing teeth twice leading to lower cardiac illness risk is a good and interesting study. This has appeared as a new stem in TOI.
More and more emphasis needs to be put on preventive cure to reduce hospitalization claims. We always thought that good hygiene is important for healthy life but correlation of brushing teeth twice leading to lower cardiac illness risk is a good and interesting study. This has appeared as a new stem in TOI.
Health Insurance portability is delayed
Health Insurance portability is delayed.
In one of my blog I had written that portability of health insurance is having complexities and it will take much longer time to become effective. We have been advising clients that do not postpone buying of Health Insurance policy for portability conditions to be known and being effective. This has happened as the portability is delayed from July 1, 2011 to Oct 1, 2011.
In one of my blog I had written that portability of health insurance is having complexities and it will take much longer time to become effective. We have been advising clients that do not postpone buying of Health Insurance policy for portability conditions to be known and being effective. This has happened as the portability is delayed from July 1, 2011 to Oct 1, 2011.
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