insurance company


SBI Life Insurance Company stocks: Buy SBI Life Insurance Company, target price Rs 1350: ICICI Direct

  • May 23, 2023
ICICI Direct has buy call on SBI Life Insurance Company with a target price of Rs 1350. The current market price of SBI Life Insurance Company is Rs 1136.85.

SBI Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 113806.74 Crore) operating in Financial Services sector.

SBI Life Insurance Company key Products/Revenue Segments include Premiums Earned and Other Operating Revenue for the year ending 31-Mar-2022.


For the quarter ended 31-03-2023, the company has reported a Standalone Total Income of Rs 21310.74 Crore, down -20.57 % from last quarter Total Income of Rs 26829.77 Crore and down -1.64 % from last year same quarter Total Income of Rs 21666.15 Crore. Company has reported net profit after tax of Rs 776.85 Crore in latest quarter.

The company’s top management includes Mr.Dinesh Kumar Khara, Mr.Mahesh Kumar Sharma, Ms.Usha Sangwan, Dr.Tejendra Mohan Bhasin, Mr.Narayan K Seshadri, Mr.Deepak Amin, Mr.Shobinder Duggal, Mr.Ashwini Kumar Tewari. Company has S C Bapna & Associates as its auditors. As on 31-03-2023, the company has a total of 100 Crore shares outstanding.

Investment Rationale

SBIL’s share price has grown ~45% in the past three years. Lower proportion of high ticket business, strong distribution and diversified product mix along with lowest cost on relative basis is seen aiding business growth as well VNB margin. The stock is reasonably priced and is currently trading at 1.9xFY25E embedded value.

Promoter/FII Holdings
Promoters held 55.45 per cent stake in the company as of 31-Mar-2023, while FIIs owned 25.14 per cent, DIIs 15.09 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, … Read the rest


How Aegon Life Insurance is leveraging digital for business transformation, ET CIO

  • May 15, 2023

Today’s digital landscape has drastically changed the pace of business and information flow, with customers seeking innovative ways to connect and employees expecting flexibility and empowerment to meet new demands. To keep up, banking, financial services, and insurance institutions require a new type of agility and efficiency, particularly when it comes to customer experience. However, it’s crucial to recognize that digitization should not come at the expense of security, as increased digital interaction can bring about risks such as cyberattacks and security incidents. Hence, companies must ensure seamless collaboration and operation of systems, regardless of data, applications, or local and global business communities. Let’s find out how an insurance major is leveraging digital for business transformation.

Aegon Life Insurance, a digital life insurance company, has revolutionized its operations with a new digital platform, delivering a seamless and straight-through experience for purchasing policies. With a visionary ‘Pure Digital 2.0’ strategy, the insurance firm is pioneering an AI-driven approach to financially secure every Indian household. But it’s not just about convenience and efficiency – this strategy is also firmly rooted in the principles of security and privacy.

The company realized that in its journey of digital transformation, building digital trust among customers and partners has become paramount. To achieve this objective and ensure unbeatable data security, the company has a hybrid infrastructure with a multi-cloud environment. State-of-the-art cloud-native solutions like SOCaaS, DLP, PAM, EDR, cloud posture management and workload protection have been deployed to ensure security and reliability. These solutions have helped with better visibility and governance of infrastructure for proactive risk detection and mitigation. The organization also has DevSecOps with an automated CI/CD pipeline for secure development.

Benchmarking to global standards and thus assuring the security of customer information, Aegon Life has also achieved ISO 27001 certification for its

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Auckland floods: Rescued pensioner furious after insurance company demands photo of wrecked car

  • March 6, 2023

Controversial government policies could be axed today, the death toll keeps climbing from the devastating Turkey/Syria quake & a Kiwi pilot is kidnapped by Indonesian separatist fighters in the latest New Zealand Herald headlines. Video / NZ Herald

A 71-year-old pensioner who was rescued from rising floodwaters is outraged at her insurance company after being told she had to provide photographic evidence of her wrecked car to receive an immediate payout.

Stephanie, a resident of the Alma Court Village in Milford on Auckland’s North Shore, was rescued from her home after Auckland’s unprecedented rainfall on January 27 caused a nearby river to overflow and flood multiple properties and surrounding streets.

But after being plucked to safety she faced a new headache when her insurance company, AMI, told her it was company policy to have photographic evidence for flooded vehicle claims and that failure to do so meant they could not make an immediate payout.

AMI yesterday afternoon said it had reviewed her claim and agreed to settle. It apologised to her for the experience.


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Stephanie with her Toyota RAV4 car that was damaged in the flooding. Her insurance company wanted photographic evidence of damage before paying out on her claim. Photo / Adrian Blackburn
Stephanie with her Toyota RAV4 car that was damaged in the flooding. Her insurance company wanted photographic evidence of damage before paying out on her claim. Photo / Adrian Blackburn

“I was standing on my bed with water lapping around it and waiting to be rescued, how on earth was I supposed to take a photo of my car? That’s the last thing I was thinking about,” she said.

Stephanie said AMI claimed it would need to tow the car away for assessment, delaying any payout by at least 10 days and possibly longer because of the number of flood-related claims.

“The minute we stepped out the door the water was almost up to my neck. What was I supposed to

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These Upgrades May Shrink Your Home Insurance Costs

  • September 10, 2022

Along with food, gas, and many other essentials, home insurance costs are on the rise in Canada.

Issues like climate change and increased rebuilding costs mean insurance companies are paying more to settle claims — an expense they pass on to customers.

It’s unwise to be without home insurance, or to be underinsured. So if you’re looking to shrink your home insurance premiums, improvements that make your home safer or less damage-prone may be the better route.

How are home insurance premiums determined?

Insurance companies consider a variety of factors when determining the cost of home insurance. They start by estimating your home’s value. Then, they calculate how much it would cost to repair or replace the structure and its contents based on numerous factors, including:

  • Location and type of house.

  • Size and age of your home.

  • Proximity to a fire hydrant (the closer the better).

  • History of previous claims, if any.

  • Type of electrical wiring and heating.

  • Whether or not you have a finished basement.

  • Level of finishes.

  • Replacement cost of contents.

Homeowners who make property alterations that reduce their chances of filing a claim are sometimes rewarded with discounts. It’s very similar to the way that a violation-free driving record and a vehicle with extra safety features can sometimes earn you cheaper car insurance — they’re indications that you’re less likely to have a costly accident.

6 home upgrades that may shrink insurance costs

Each home insurance company, policy and property is different, so there’s no guarantee the following upgrades will result in a smaller bill. Read your own policy carefully and reach out to your insurance company before doing renovations to confirm what discounts are possible, if any.

1. New roof

Getting a new roof could help decrease your insurance payments, especially if the existing

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5 Ways to Lower Your Car Insurance Premiums

  • August 19, 2022

The cost of living keeps on going up, but that doesn’t mean you should be paying more for your car insurance than you need to. With Budget Insurance, you can save money on your car insurance premiums, while getting all the coverage you need. Here are 5 top tips to help you save money on your premiums…


There is no question that having adequate car insurance is an essential expense. You just never know what can happen on the road and being fully protected isn’t a luxury – it’s a necessity. However, that doesn’t mean insurance premiums should exhaust your disposable income. In this article, Budget Insurance suggests a handful of ways in which you can reduce what you pay for car insurance every month.

1. Choose the type of car you drive carefully

Does the type of car you drive affect your car insurance premiums? Yes, it does. In fact, it’s a major consideration. The general rule of thumb is that the more expensive a car is, the higher you will pay for car insurance. This is because repairs or replacement costs will be higher in the event of the car being damaged or stolen.

But there are a few more factors to think about when buying a new set of wheels. This can include the vehicle’s age, whether it is a luxury model, safety features and the statistical chances of the car being involved in an accident or stolen.

Buying second-hand can be a good option, but consider these important factors before you shell out any money. This is because newer cars are equipped with more expensive features, which are more costly to replace than those in older models. Your vehicle’s body style could also have an impact on insurance costs. For example, SUVs garner

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Widower’s car insurance increases after wife’s death, practice is unfair| Betty Lin-Fisher

  • August 14, 2022

Joe Kline of Suffield got an unwelcome surprise when he phoned his insurance agent after his wife of 52 years, Angie, edited in April of pulmonary fibrosis.

Kline wanted to keep insuring two vehicles, but assumed that his insurance rate would go down with one fewer drivers.

Betty Lin-Fisher

Betty Lin-Fisher

Instead, it went up by about $20 per half.

“That’s when I got my hackles up,” said Kline. “I didn’t think it would be cut in half, but it shouldn’t have gone up.”

That made no sense, Kline said, since he was now half the liability to the insurance company. Kline said he knows it’s not much money, but it was the principle that irked him. He lost his multiple-driver discount.

“So I guess they’re going on the assumption that if you no longer have your spouse in the passenger seat screaming at you to quit tailgating or slow down that makes you a bad driver, right?” he said.

Kline drove a truck for a living and never had an accident in 35 years. If he was a good driver the day before his wife died, why is he a bad driver the day after she died, he said?

“Just give me a good valid reason and I’ll be happy to pay,” said Kline.

Widow or widower’s penalty increases car insurance rate

At least one state agrees with Kline.

Delaware bans what their former insurance commissioner called the “widow’s penalty,” where a widow or widower was being charged more after the death of a spouse.

In 2015, then-Delaware Insurance Commissioner Karen Weldin Stewart announced she would not approve any auto insurance rate submission that included the penalty.

“This so-called ‘widow’s penalty’ is completely unfair,” said the commissioner in a press release at the time. “Becoming a single driver because

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Did your car flood in southwest IL? Here’s how to file an insurance claim

  • August 7, 2022

As residents of southwest Illinois and the greater St. Louis area try to navigate flood lossessome may look to file insurance claims for automobile damage.

Comprehensive coverage isn’t always required, but if you have that type of plan, it may cover repairs or replacement of your vehicle after your deductible has been met.

Limits may apply to how much insurance companies will give you for repairs or replacement.

Water damage may be covered if your car is stuck in floodwater or if driving through water causes damage to your vehicle. Other types of storm damage may also be coveredsuch as damage from fallen tree limbs or hail, according to Progressive’s website.

Insurance plans typically do not cover after-market electronics, including GPS devices, stereos or anything else the owner installed.

You should review your policy or contact your insurer for the specifics of your coverage.

How can you file an insurance claim for flood-related car damage?

The first thing to do is to take pictures and video of your car submerged in water and try to show the water level. The water level can make a difference in whether an insurance company determines your car is totaledaccording to car media site Motortrend.

Once you’ve documented the damage if possible, you can begin the claim process. Most large insurance companies offer online claim systems along with apps, where you can report damage or place your claim over the phone.

It’s best to submit your claim as early as possible and take detailed notes throughout the process, Motortrend says. While mechanics examine your car and your insurance company investigates the claim, check for any damage that may not have been immediately visible.

The claim process will vary by insurance company, but here’s what the process looks like according to

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How to save money on teen driver’s car insurance

  • August 1, 2022

For many teens, a driver’s license represents freedom and greater independence. For parents, a newly licensed teen driver can cause not only significant anxiety but a shocking surge in car insurance costs.

I almost fell to the floor when I opened the first auto insurance bill after adding my 16-year-old daughter to my policy. It was literally double the previous month. I was sure it was a mistake. Maybe I forgot to pay the previous month‘s bill? I immediately called my agent, who couldn’t offer much comfort. It’s correct, he said. Add a teen to your policy and your premium will soar.

“Insurance is all about risk, and rates are based on several factors, including who you are, where you are, what you drive, and how you drive,” says Allie Byers, spokesperson for insurance comparison website The Zebra.

For most carriers, the “who you are” includes age, which is a significant factor in determining a car insurance rate.

“Because teen drivers present a much higher risk than adult drivers, with higher chances of car accidents and fatalities on the road, their car insurance rates will be much higher,” says Byers.

We all have to start somewhere, but given that lack of experience, drivers through age 25 (or their parents) can expect to pay 115 percent more per year than the average driver — $1,667 per six-month policy, versus the US average of $774 — according to research conducted by insurance comparison site, The Zebra.

The good news is that parents and teens have options to save on teen car insurance rates, says Byers who suggests shopping around to start.

“You may find that you could be paying a lot less for the exact same policy or an even better one,” says Byers.

Also, ask your agent to apply

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