With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India.
The Munich, Germany-based insurer will hold a majority stake of 51 percent in the asset management joint venture.
Bajaj Allianz Life Insurance, one of the leading private insurance companies in India, is eyeing to double its market share to 10 per cent in the health insurance segment over the next three years.
The latest information was revealed by a senior executive of the company, during launching of new insurance plan.
Presently, the company's market share in health insurance, among all the life insurers, is around 5%, which it plans to increase it to 10% in a three-year period.
The latest figures released by Insurance Regulatory and Development Authority (IRDA) disclosed that life insurance industry has posted an 11% decline in its premium incomes during the 11 months period, which ended on 28 February, 2009.
IRDA’s data also showed that the life insurers collected Rs 36,467 crore as premium incomes in the period under review.
The report also highlighted that the premium incomes earned during Feb 2009 were 12 per cent up as compared to the premium incomes in January 2009.
Washington - Bonuses paid to top officials at ailing insurer American International Group Inc (AIG) were higher than previously reported, a Connecticut state prosecutor told CNN Saturday.
AIG employees received 218 million dollars in bonuses in recent months, higher than the 165 million dollars previously reported, Connecticut Attorney General Richard Blumenthal told the broadcaster, citing information he'd gathered from subpoenaed documents.
Heard about mixing insurance and investments? That's just the stuff the unit-linked insurance plans (Ulip) have pushed, for long now.
The new trend goes a step beyond, mixing health insurance and investment. A case in point is the ICICI Prudential Health Saver, a whole life product.
Essentially, Health Saver provides for hospitalisation costs, as any mediclaim policy would. But it also builds a health savings fund, from which other non-hospitalisation related medical charges can be reimbursed.
Max New York Life, one of the earliest entrants into the private insurance market, grew 54% on new business premium in the first nine months of the current fiscal. It has also gone for major expansion last year. Rajesh Sud, the CEO and managing director of Max New York Life, who took charge four months ago, spoke to DNA Money's Nandini Goswami on a host of industry and company specific issues. Excerpts from the interview:
How has the current slowdown affected MaxNYL's business and how do you see the situation unfolding in the coming months?
With Bajaj already has life insurance and general insurance business tie-ups with Allianz since eight years, the Rahul Bajaj-owned Bajaj Finserv lately entered into a shareholders' deal with Allianz Global Investors, which is venturing into the asset management arena in India. 
Bajaj Allianz Life Insurance, one of the leading private insurance companies in India, is eyeing to double its market share to 10 per cent in the health insurance segment over the next three years. 
The latest figures released by Insurance Regulatory and Development Authority (IRDA) disclosed that life insurance industry has posted an 11% decline in its premium incomes during the 11 months period, which ended on 28 February, 2009.
Washington - Bonuses paid to top officials at ailing insurer American International Group Inc (AIG) were higher than previously reported, a Connecticut state prosecutor told CNN Saturday.
Heard about mixing insurance and investments? That's just the stuff the unit-linked insurance plans (Ulip) have pushed, for long now.
Max New York Life, one of the earliest entrants into the private insurance market, grew 54% on new business premium in the first nine months of the current fiscal. It has also gone for major expansion last year. Rajesh Sud, the CEO and managing director of Max New York Life, who took charge four months ago, spoke to DNA Money's Nandini Goswami on a host of industry and company specific issues. Excerpts from the interview: 
