Insurance

HDFC ERGO, the country's third largest non-life insurance provider in the private sector, announced that 'Home Care Expenses benefits will now be made available to all their existing health insurance policyholders. This feature will cover COVID-19 treatment costs for those seeking it within the comfort of their own homes. The cover will cushion individuals for COVID-19 who have been...

AXA XL announced that Sean McGovern has been appointed as CEO UK & Lloyd’s market subject to regulatory approval. Mr. McGovern had been performing the role on an interim basis for some months and has now been confirmed on a permanent basis. In addition to serving on the Leadership Team of AXA XL having...

Cyril Amarchand Mangaldas acted as the legal counsel to QBE Insurance Group Limited (QBE) in relation to Paytm's acquisition of Raheja QBE General Insurance Company Limited (Company). As part of the Transaction, QBE Holdings (AAP) Pty. Limited and QBE Asia Pacific Holdings Limited (collectively, QBE Entities) have entered into definitive agreements to divest their entire shareholding of 49% in...

MUMBAI/NEW DELHI: July 8, 2020: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today announced the launch of its first-of-its-kind Health and Life Secure, an inclusive protection solution with triple benefits of life cover, hospitalization and critical illness amid COVID19. Health...

Hyderabad, Tuesday, July 07, 2020: In the face of an ongoing economic crisis, Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail giant Future Group and global insurer Generali, announced promotions, annual increments & variable payouts to all its employees. The company declared that there will be no layoffs...

Mumbai, 6th July’20: India's homegrown financial technology platform Paytm (owned by One 97 Communications Limited) along with Vijay Shekhar Sharma is set to acquire Mumbai based private sector general insurer Raheja QBE. The acquisition is subject to customary conditions, including approval from the Insurance Regulatory and Development Authority of India (IRDAI). Raheja QBE is owned 51% by...

New Delhi, July 6, 2020: In its endeavor to make the Atal Pension Yojana attractive and to benefit 2.28 Crore subscribers enrolled under the scheme, PFRDA has asked all banks to process upgrade/ downgrade of pension amount requests of APY subscribers throughout the year with effect from 1st July 2020, however; once in a financial year. This...

Mumbai, July 03, 2020: Liberty General Insurance Ltd. (LGI), in an industry first move, today launched an innovative service ‘Liberty Assure’ as a part of its existing Private Car Package Policy, under the Regulatory Sandbox approval received from IRDAI. This innovative offering is one of its kind in the industry where the customer will not have to bear the...

COVID-19 Diagnosis Cash Benefit/Hospitalisation Cash Benefit amount - Rs. 5,000 & Rs. 10,000 Hospitalisation Frequency - Cash benefit for 2 or 4 times of hospitalisation in a year Option to choose any one of the proposed benefits categories and the premium would be charged accordingly IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union...

Hyderabad / Delhi, July 2nd, 2020: Edelweiss General Insurance (EGI), India’s first cloud native insurer, has partnered with PolicyBazaar, India’s leading web aggregator, to offer Edelweiss SWITCH, an on-demand driver-based insurance, innovative, app-based Motor OD floater policy. Edelweiss SWITCH, launched under IRDAI’s Regulatory Sandbox, allows vehicle owners to SWITCH their motor insurance ON...