Monday, August 15, 2022
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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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Govt bats for loss-making insurers, seeks regulatory forbearance

The government is in discussion with the insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) seeking extension of special dispensation to the state-run general insurers for meeting solvency requirements. National Insurance Company Limited, Oriental Insurance Company Limited and the United India Insurance Company Limited are loss-making insurers. In

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Insurance industry reports a tepid 5% growth in FY21

Healthcare and fire protection helped the Indian general insurance industry report a tepid 5% growth for the last fiscal even as the dominant motor and crop insurance segment shrank due to lockdowns. Standalone health insurers like Star Health, Aditya Birla Health Insurance, Max Bupa reported robust growth in their gross

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