The Life Insurance industry may be going through a bumpy ride but some life insurers seem to be doing just fine. Some of the policy changes rolled out by the IRDA and the recent changes announced in the Budget 2012-13 have affected the growth of the life insurance industry. But a couple of companies such as IndiaFirst Life and Star Union Dai-ichi are showing healthy growth and outperforming their own projections.

Few days ago, a senior official of IndiaFirst said that the life insurance...  Read More »

IndiaFirst Life Insurance Company, a joint venture between two of India's largest public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General announced that it has entered into a tie-up with Vidharbha Kshetriya Gramin Bank- a regional rural bank sponsored by Central Bank of India, to reach out to its customers in the remote regions of Maharashtra.

IndiaFirst Life Insurance already has a presence in Maharashtra through over...  Read More »

Buying a health insurance policy is very easy but when it comes to making a claim through a third-party administrator (TPA), policyholders have to undergo a tedious process. IndiaFirst Life launched its first unit-linked health plan ‘IndiaFirst Money Back Health Plan’ which aims to address the claim settlement process in a unique way.
 

Normally, in order to make a claim, a policyholder has to either contact the TPA or the insurance company via telephone, email or fax. IndiaFirst Life is using...  Read More »

IndiaFirst Life Insurance Company is eyeing new business premiums to the tune of Rs 1200 crore this financial year. A joint venture between India’s two large public sector banks – Bank of Baroda and Andhra Bank and UK’s leading financial and investment company Legal & General, it is one of the youngest players in the life insurance space. The company started its operations on November 16th, 2009, through a soft launch across 3,028 branches of its promoter - Bank of Baroda. 
 

Since its launch,...  Read More »

IndiaFirst Money Back Health Insurance Plan is the latest addition to the product portfolio of IndiaFirst Life Insurance Company. This new plan is a unit-linked health insurance plan is designed to take into account the investment needs of a customer while providing the benefits of a health insurance plan.

Commenting on the launch, Dr. P. Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance said, "The unique proposition of this plan is that it offers a comprehensive health cover for...  Read More »

In the first year of its operations IndiaFirst Life Insurance Company has surpassed its social and rural obligations set by the Insurance Regulatory and Development Authority (IRDA).

The mandated target percent laid down by the regulator is 7%. IndiaFirst Life has achieved 14% of its overall business. In 2010-11, the insurer has managed to cover over 5 lakh lives in social sector against 5000 as directed by the IRDA.

Dr. P Nandagopal, Company Managing Director & CEO said, “At IndiaFirst,...  Read More »

IndiaFirst Life Insurance is all set to infuse additional capital of Rs 120 crores for funding the company’s expansion plans as well as to maintain their solvency margin.
 
The private insurer started operations in March 2010 and is a joint venture between Bank of Baroda, Andhra Bank and UK-based Legal & General. The capital infusion would be from the promoter banks. Comfortably placed as one of the most capital efficient life insurance company, IndiaFirst Life already has a paid-up capital...  Read More »

IndiaFirst Life Insurance Company has moved a step forward in enhancing its business process and overall experience. The insurer launched its first Financial Planning Centre (FPC) in Chennai.

The centre was inaugurated by IndiaFirst Life Insurance Company’s MD and CEO, Dr. P Nandagopal. The FPC will be used by the company to offer its complete range of services as well as for policy  servicing, processing of new applications and license for advisors, sales and training of its advisors,...  Read More »

Insurance in India is getting extremely competitive with new players entering the markets. Excluding Life Insurance Corporation of India (LIC), there are 22 private life insurance companies, each vying for a greater market share and trying to outperform their competitors.

IndiaFirst Life Insurance Company Ltd is one of the newest entrants in the life insurance space. The company started their nationwide operations in March 2010 and has a capital base of Rs 455 crores. A joint venture between...  Read More »

ICICI Prudential Life Insurance has left its private counterparts way behind by collecting a premium Rs 7860.99 crores during the financial year 2010-11. This is a 24% jump from its premium collections of Rs 6334.3 crores in FY 2009-10.

 
Out of 22 private life insurance companies in India, ICICI Prudential Life Insurance has turned out to be the highest gainer followed by SBI Life which collected Rs 7570.72 crores. SBI Life has shown an increase of 7.53% over its premium collections of Rs...  Read More »