buffett: Warren Buffett deepens insurance exposure with $11.6 billion Alleghany deal

Warren Buffett‘s Berkshire Hathaway has struck an $11.6 billion deal to buy Alleghany Corp, the owner of reinsurer TransRe, just weeks after the 91-year-old billionaire bemoaned the lack of good investment opportunities. Alleghany adds to Berkshire’s already large insurance portfolio, which includes Geico auto insurance, General Re reinsurance and a unit that insures against major … Read more

Life insurers’ new biz premium income nearly flat at Rs 24,466 cr in Dec

Life insurers’ collective new business premium income stayed nearly flat from a year ago at Rs 24,466.46 crore in December 2021, data from Irdai showed on Friday. The new business premium, or the first year premium, of 24 life insurance companies had stood at Rs 24,383.42 crore in December 2020. IPO-bound insurance behemoth LIC, however, … Read more

LIC valuation delay likely to push IPO plan beyond FY22

The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed … Read more

Something seems to be wrong with ICICI Lombard

I have a ICICI Lombard Car insurance policy coming up for renewal. and here is my experience – Tried renewing it on ICICI Lombard’s website and it was just not responding. I tried for straight two days. Tried to do it on Coverfox – ICICI Lomard’s quoted premium was 3x of others I didn’t bother … Read more

ICICI Lombard launches BeFit cashless OPD and wellness solution to users

ICICI Lombard has launched BeFit,  a service provided through its ILTakeCare app that gives customers benefits of complete OPD services—that is, doctor consultation, pharmacy, diagnostics services, etc.—on a cashless basis. “The solution empowers customers to benefit from a host of wellness services. As good health and immunity gain importance, this comprehensive solution will come in … Read more

Govt to sell stake in LIC in two stages to avoid market disruption

The government may not initially sell a 10% stake in Life Insurance Corp. of India (LIC) through an initial public offering (IPO), choosing instead to sell 5-6%, followed by a similar second public offering, given the mammoth size of the state-run insurer, four people aware of the development said. Although the valuation exercise of LIC … Read more

In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance

In a regulatory filing late Friday, ICICI Lombard said the boards of the two companies — ICICI Lombard and Bharti AXA General — had met on Friday and approved entering into definitive agreements for demerger of Bharti AXA’s non-life insurance business into ICICI Lombard through a Scheme of Arrangement. According to ICICI Lombard, the shareholders … Read more