Four years ago, the Indian General insurance industry was on the brink of a huge change that is affecting them in many ways yet. Detariffing, or removal of price controls on various classes of General insurance business, was brought in from January 1, 2007. Each company was free to quote its own premium rates for [...]

In April 2007, Indian General insurance business was taken off the tariff, the price list for many types of General insurance which had been statutory for decades. Some tariffs were very high – for Fire insurance – for example. Others were too low – like Motor insurance, especially Motor Third Party Liability. This led to [...]

Mr M Ramadoss, the outspoken Chairman-cum-Managing Director of The New India Assurance Company, has worked out a strategy to use individual agents to the maximum to achieve his plans for the company. Agents are the most cost effective distribution method, he says in this interview with K Nitya Kalyani, and he is putting things in place for New India to nurture and celebrate its agents, unlike in the past.

This year results will show that no company has made profits, not even
after investment. Detariffing, the economic slowdown, terrorist events and
Satyam have all taken their toll, says Mr Gaurav Garg, Managing Director and CEO of Tata AIG General Insurance Company.

Mr Yogesh Lohiya, Chairman-cum-Managing Director General Insurance Corporation of India (GIC), talks about GIC’s role in creating and moderating the reinsurance market in India during the early period of detariffing and the economic slowdown in his conversation with K Nitya Kalyani of Premium

Cholamandalam MS General Insurance Company is part of the Chennai headquartered Murugappa Group with major presence in engineering, abrasives, sugar and agricultural and farm inputs.  It is a joint venture with the Mitsui Sumitomo Insurance Group, the second-largest insurance group in Japan. Mr S S Gopalarathnam, a Cost and Management Accountant by qualification, joined the [...]