Insurance Regulatory and Development Authority (IRDA) has registered SBI General Insurance Company, promoted by State Bank of India and Insurance Australia Group, Australia, as a General Insurance company under Section 3 of the Insurance Act, 1938, according to a press release issued by Mr R Kannan, Member (Actuary,) IRDA. The Certificate of Registration (Forms IRDA/ [...]

Many of those who matter, including Mr D Swarup himself, have expressed their opinion about the recommendation phasing out agents’ commission to which the media has given wide coverage

In response to Life and General insurance companies calling upon Insurance Regulatory and Development Authority (IRDA) to relax the rule allowing banks to tie up with only one insurance company, a media report quoted Mr R Kannan, Member, IRDA, saying a seven-member panel had been set up look into the plea and review the current [...]

Life Insurance Corporation of India (LIC) has increased its stake in certain public sector banks and the top two private sector banks in 2008-09, media reports said. However, barring certain critical investments and Navratna companies, the Insurance Regulatory and Development Authority (IRDA) has asked the Life Insurance Corporation of India (LIC) to reduce its stake [...]

The country witnessed many changes during May including that of the pattern of the new Lok sabha

Mr R Kannan, Managing Director, Shriram City Union Finance, talks to Premium’s K Nitya Kalyani on how the Shriram Group is approaching the Life insurance business and retraining its agents.

Lower Solvency for Health, Annuity and Pensions Insurance Regulatory and Development Authority (IRDA) has reduced the solvency margin requirement for health, annuity and pension policies. The move reduces the cost for Life insurance companies of maintaining solvency margins for these traditional policies. By this they would have the opportunity to lower premium rates for traditional [...]