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CAG report: PSU general insurers logged ₹26k cr loss between FY17 & FY21

All four public sector general insurers posted an aggregate loss of ₹26,364 crore between 2016-17 and 2020-21, according to an audit report by the Comptroller and Auditor General of India (CAG). The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of

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Irdai to modify norms for remuneration of CEOs, directors of private insurers

Regulator Irdai on Monday proposed to modify the guidelines on remuneration of non-executive directors, managing directors, CEOs and whole-time directors of private insurance companies with a view to check excessive risk taking behaviour of top executives. As per the proposed guidelines, the remuneration of chief executive, managing directors and whole

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Insurance industry’s underwriting losses increase by 6.2% in FY20, up to Rs 23,720 crore

MUMBAI: India’s general insurance industry saw its underwriting losses increase by 6.2% in FY20 largely on the back of losses suffered by public sector insurers in segments such as fire, motor and marine segments. These losses increased to Rs 23,720 crore in FY20 from Rs 22,320 crore in preceding fiscal

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