HDFC To Buy 51.2% Stake In Apollo Munich Health Insurance

Post the deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company Housing Development Finance Corp Ltd (HDFC) on Wednesday said it will buy a 51.2 percent stake in Apollo Hospital Group’s joint venture, Apollo Munich Health Insurance Company for Rs. 1,347 crore. German reinsurance company Munich Re, which formed the joint venture with Chennai-based Apollo Hospitals, will…

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First-year Premium Income of the Life Insurance Sector Jumps 43.4% in May 2019

Life insurance policies sales declines by 5.2% in May 2019 The first-year premium income of the life insurance sector surged 43.4% to Rs 18414.02 crore in May 2019. The private life insurers reported 35.3% surge in the premium collection at Rs 4917.34 crore, while Life Insurance Corporation (LIC) also showed 46.6% jump to Rs 13496.68 crore in May 2019. During April-May 2019-20, the private insurers reported…

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Bharti AXA General Insurance Posts Rs 3 Crore Profit in FY’19

Commercial lines saw a 70 percent growth at Rs 288 crore as against Rs 170 crore in 2017-18. New Delhi: Bharti AXA General Insurance Monday said it has posted a maiden profit of Rs 3 crore for the financial year ended March 2019. The private sector insurer, a joint venture between Bharti Enterprises and French insurance major AXA, had registered…

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Insurance Companies Must Honour Claims at all Hospitals: Delhi High Court

NEW DELHI: In a major relief for patients, the Delhi high court has ruled that insurance companies would have to honor claims by valid medical policyholders who have received treatment at any government-registered hospital. Cashless facilities must also be extended to all such hospitals. The court, thus, has put an end to a system where health insurance companies and third party…

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Next on the agenda: Mega state-run general insurer like LIC

Talks on to create mega single insurer; plan to merge United, Oriental and National underway. India is looking to establish a single, mega state-run general insurer under New India Assurance, possibly revising its earlier plan to have two such firms. A government official confirmed that discussions are on between the Department of Financial Services and the Department of Investment and…

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