Pvt. Life Ins. Cos. Plan to close 5-10% Branches

"Only LIC is growing and can sustain its current cost structure,” said an actuary of a private life insurance company

After a tough quarter, insurance companies are going through a second round of cost rationalisation. A number of private sector insurers are planning to cut costs, as much as 20 per cent, in the next few months.

The first move being planned is closure of branches in not-so-productive areas. Life insurance officials said many companies were looking at reducing the number of branches by 5-10 per cent because of high maintenance costs. “In the current

Profit is the only motive of Private!

January 30,2011 | Last update 1 day ago
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Moneylife » Companies & Sectors » Face to Face » Bharti AXA wants to focus on retail mediclaim insurance as its loss ratio is lower Bharti AXA wants to focus on retail mediclaim insurance as its loss ratio is lower January 24, 2011 06:20 PM | Raj Pradhan What's Hot From this section Bharti AXA wants to focus on retail mediclaim insurance as its loss Dr Amarnath Ananthanarayanan, CEO and MD, Bharti AXA General Insurance, says that hospital frauds are more prevalent than policyholder frauds; and car thefts, not accidents, are the biggest predicament confronting companies that offer motor insurance ‘Agents mis-selling ULIPs is a very valid argument’ Ashvin Parekh of Ernst & Young, says ULIP products are complex and difficult to evaluate and all agents may not be trained correctly to guard against mis-selling Godrej CFO: Brand takeover opportunities in India are limited P Ganesh says few opportunities for inorganic growth in the country results in valuations being high. Godrej is looking for acquisitions at home and abroad that will be a strategic fit and accretive Teaching talent is going to be a key challenge Zee Learn, which has been demerged from the entertainment business of ETC, is focussing on technology and training to consolidate its pre-school-to-professional education business which is catching on fast ‘Equity appetite of smaller companies has disappeared’ Raj Bhatt, vice chairman of Elara Capital, says sentiment is turning against investing in equity directly. He believes that the next wave will be convertibles, where investors can hedge against the stock's volatility

Bharti Axa Genereal Insurance Co. has not accepted Bharti Airtel's Group Health Policy!

(Pvt. Cos. are not offering policies even to their parent Cos. if there is no profit!!)

Dr Amarnath Ananthanarayanan, CEO and MD, Bharti AXA General Insurance, says that hospital frauds are more prevalent than