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 »

Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), a joint venture of Bank of India (BOI), Union Bank of India, and Dai-ichi Life Insurance Co. Ltd., Japan, has registered a high growth rate of 23.2% putting them in the top position amongst all players in the industry, as per the year-on-year growth ranking for the period July 2010 - July 2011.
 

This high growth rate has been successfully achieved even in the backdrop of the private life insurance industry registering a negative growth...  Read More »

This year, Star Union Dai-ichi Life Insurance is all geared up to exceed its past performance.  The insurance company is aiming to report a turnover of Rs 2000 crores in 2011-2012.

During financial year 2010-2011, Star Union Dai-ichi Life (SUD Life) collected new business premiums of Rs 758 crores. Its total premium income for the same period stood at Rs 933 crores which was a remarkable 76% increase over its previous year’s figures.

Star Union Daiichi Life Insurance is jointly promoted...  Read More »

Star Union Dai-ichi Life, a joint venture between Bank of India, Union Bank of India and Japan’s Dai-ichi, has registered a growth of 73.21 per cent during the financial year 2010 - 2011.

The private life insurer, having completed 26 months in the insurance business, is a fairly new entrant in the Life insurance sector. The total premium collection since its inception is Rs 1323.89 crores. The major contributor to this has been its premium collections of Rs 936.70 crores during FY 2010 –...  Read More »

The Reserve Bank of India (RBI) being the regulatory authority of the banking system, recognizing the need for banks to diversify their activities, permitted them to enter into the insurance sector through the bancassurance model.

Bancassurance refers to banks acting as corporate agents for insurers to distribute insurance products by combining them with their typical banking products or services.  The blending of life insurance and non-life insurance products while promoting their own banking...  Read More »

Star Union Dai-ichi Life Insurance Co Ltd (SUD Life) and Union Bank of India (UBI) present to you Reverse Mortgage Loan-enabled Annuity Plan (RMLeA). The two signed a memorandum of understanding (MoU) yesterday.

For easy interpretation, let’s take a look at what the term RMLeA means and who can benefit from this. RMLeA is a pension plan for home-owning citizens aged between 55-85 years. It is a combination of Reverse Mortgage Loan and Life Annuity to provide a monthly income (financial...  Read More »

In a move to penetrate remote rural markets in Uttar Pradesh, Star Union Dai-ichi (SUD) is on a mission to tie-up with the Regional rural banks (RRB). Star Union Dai-ichi is a joint venture between Bank of India (BOI), Union Bank of India and Dai-ichi Mutual Life Insurance Company of Japan.  BOI and Union Bank are the two leading Public sector banks in India, having a strong nationwide network of over 5400 offices.

To achieve this goal of making its presence in the remotest regions of U.P, SUD...  Read More »