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Health boost for non-life insurers in FY21 At over ₹1.98 lakh cr, gross direct premium underwritten 5.20% more

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A rising demand for health covers evident since COVID-19 outbreak seems to have come as a booster shot for non-life insurers as they posted a 5.20% increase in gross direct premium underwritten for 2020-21.
Comprising general insurers (all of whom deal in health insurance too); standalone health insurers; and the two specialised PSU insurers (ECGC and Agricultural Insurance Company of India) the non-life segment reported ₹1,98,734.68 crore gross direct premium underwritten. For 2019-20, it totalled ₹1,88,916.61 crore.
Flash figures (provisional and unaudited), released on Tuesday by insurance regulator IRDAI, show gross direct premium underwritten of general insurers (25 companies) increasing 3.35% to ₹1,69,840.05 crore (₹1,64,328.20 crore). These companies between them account for over 85% of the non-life market. ....

Max Bupa , India Assurance Company , Reliance Health Insurance , Star Health Allied Insurance Company , Health Insurance , Manipalcigna Health Insurance Company , Aditya Birla Health Insurance Company , Care Health Insurance , Agricultural Insurance Company Of India , Agricultural Insurance Company , Star Health , Allied Insurance Company , Reliance General , New India Assurance Company , Non Life Insurers , அதிகபட்சம் புபா , இந்தியா உறுதி நிறுவனம் , நம்பகத்தன்மை ஆரோக்கியம் காப்பீடு , நட்சத்திரம் ஆரோக்கியம் கூட்டணி காப்பீடு நிறுவனம் , ஆரோக்கியம் காப்பீடு , பராமரிப்பு ஆரோக்கியம் காப்பீடு , நட்சத்திரம் ஆரோக்கியம் , கூட்டணி காப்பீடு நிறுவனம் , நம்பகத்தன்மை ஜநரல் , புதியது இந்தியா உறுதி நிறுவனம் , அல்லாத வாழ்க்கை காப்பீட்டாளர்கள் ,

Shivalik Small Finance Bank receives commercial banking license

Shivalik Small Finance Bank receives commercial banking license
ANI |
Updated: Jan 06, 2021 12:41 IST
New Delhi [India], January 6 (ANI/NewsVoir): Shivalik Small Finance Bank (SSFB) announced the receipt of a license from Reserve Bank of India (RBI) to carry on banking business as a Small Finance Bank (SFB) in India.
This marks the successful completion of the last major step in the transition of Shivalik Mercantile Co-operative Bank (SMCB) to a SFB. SMCB is the first Urban Cooperative Bank (UCB) in India to transition to a Small Finance Bank under the voluntary transition scheme.
Highlights:
Shivalik is the first and largest multi-state Urban Co-operative Bank in Uttar Pradesh and has been at the forefront of financial inclusion through a technology focussed approach. It is currently serving customers in Uttar Pradesh, Madhya Pradesh, Delhi, and Uttarakhand. ....

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