Premium income of non-life insurance companies rose by around 13 per cent to Rs 12,947.50 crore in June, according to the data by IRDAI.
General insurance premium collections for the quarter ended June 30, grew by 12.2 per cent to Rs 37,349.40 crore against Rs 33,287.04 crore for the same quarter in FY18.
The board of IDBI Bank decided to seek the govt's decision on LIC's proposal to acquire up to 51% stake in the debt ridden bank.
Life insurance premium collections grew by 10.78 per cent during the first quarter of the current fiscal to Rs 36,729.79 crore against Rs 33,156.16 crore during the same quarter last year, according to figures released by insurance regulator IRDAI.
RBI has invited application for the post of CEO of the NCFE, an institution set up in collaboration with other financial regulators.
Acting tough on those violating emission norms, Irdai has said vehicles without a valid Pollution Under Control (PUC) certificate will not be insured.
The proposed 51 per cent stake purchase by insurance major Life Insurance Corporation in IDBI Bank may not require Parliament's approval as it does not require any changes in the LIC Act, sources said.
Congress today targeted the government over the of the Life Insurance Corporation board's decision to buy a majority stake in the ailing IDBI bank.
The long-cherished plan of the national insurer LIC to own bank today moved closer to reality with the regulator Irdai giving a go-ahead to pick a controlling stake in the crippled IDBI Bank.
Insurance behemoth LIC will acquire up to 51 per cent stake in state-owned IDBI Bank after regulator Irdai approved the plan that will help convert the debt-ridden lender into a private sector entity.