Insurance Regulatory and Development Authority: GK, General Studies and Current Affairs

ICICI Lombard to merge with Bharti Axa General Insurance

ICICI Lombard general insurance company is going to merge with Bharti AXA’s non-life insurance business through a scheme of arrangement. According to ICICI Lombard, it will be the third-largest non-life insurer in India. Who are non-insurance companies? Non-life insurance companies are associated with providing insurance other than Life insurance. Such kinds of insurance include automobile ..

Care Health Insurance is the new name of Religare Health Insurance

Gurgaon headquartered, Religare Health Insurance got a new name “Care Health Insurance”. Religare Enterprises Limited is the umbrella organization of the group, which provides services like SME finance, Affordable Housing Finance, Retail Broking, and Health Insurance. Health Insurance Companies in India There are several health insurance companies in India. Such insurance companies need approval by ..

Paytm receives license from IRDAI

India’s leading payment and fin-tech company Paytm has entered into the insurance segment, as its subsidiary received licence to sell life-and non-life products from the regulator- Insurance Regulatory and Development Authority of India (IRDAI). Noida-based Paytm announced that it will commence its insurance services through its subsidiary, PayTM Insurance Broking Pvt Ltd (PIBPL). The company ..

Suresh Mathur head of IRDA committee to review microinsurance framework

The Insurance Regulatory and Development Authority of India (IRDAI) has recently constituted a 13-member Committee to review the regulatory framework on microinsurance and recommend measures to increase the demand for such products. . The committee, under the chairmanship of IRDAI Executive Director Suresh Mathur, has been tasked with suggesting product designs with customer-friendly underwriting, including ..

RBI permits Reinsurance brokers to open Foreign Currency accounts

RBI has permitted Reinsurance brokers to open non interest bearing foreign currency accounts with banks for undertaking transactions. Earlier, the Insurance Regulatory and Development Authority of India (IRDAI) had issued notification and then RBI issued Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 – Opening of Foreign Currency Accounts by ..