Life

China opens financial sector to increased foreign investment

International News       Jul 22, 2019

  Beijing: China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry.   Foreign investors can take a stake or control entities including wealth management units of commercial...

LIC offering Rs 1.25 trillion by 2024 for highway projects, says Gadkari

Indian News       Jul 21, 2019

New Delhi: As part of innovative modes of financing to meet India's huge infrastructure appetite, insurance giant LIC has agreed to offer Rs 1.25 trillion line of credit by 2024, to fund highway projects, Union Minister Nitin Gadkari said.   Keen on timely execution of the...

IRDAI cautions Reliance Nippon Life on expense management

Indian News       Jul 19, 2019

  Hyderabad: The insurance regulator IRDAI has reprimanded the Reliance Nippon Life Insurance Company,  for failing to comply with regulations on expense management. According to the IRDAI rulings on Friday , the insurer has neither furnished the Certificate from the appointed actuary nor demonstrated that the...

Government to prepare national data on unorganised sector

Indian News       Jul 17, 2019

  NEW DELHI: Shrinking of unorganised sector is a "positive" indicator of development and the government will prepare a separate data on unorganised workers in India, Labour and Employment Minister Santosh Kumar Gangwar told the the Rajya Sabha on Wednesday.   The government has taken several measures...

Life insurers to refund premium in a yr old policy in case policyholder commits suicide:IRDAI

Indian News       Jul 15, 2019

  Hyderabad: Changing its existing regulations, with effective from Monday, the insurance regulator IRDAI has asked the domestic life insurers to refund the premium to a policy holder or pay the surrender value of his/her policies available in case of his/her death due to suicide within...

Vineet Arora MD & CEO, Aegon Life Insurance. 

Time for your first Term Plan

Articles       Jul 15, 2019

With youth comes a sense of carefree bliss accompanied by a short-termoutlook towards life. However, as we age and progress in life, we begin to absorb the significance of planning for the long-term, for a time when we have long gone.    Providing financial protection to...

Relaxing foreign-ownership laws will benefit Indian insurers:Fitch

Indian News       Jul 15, 2019

  Colombo: India's proposed removal of the foreign-ownership cap on insurance intermediaries is likely to increase competition, strengthen distribution capabilities to enhance insurance penetration and boost M&A in the medium to long term, said Fitch Ratings.   More international companies are likely to enter the fast-expanding Indian...

LIC new premium more than doubles in June; pushes industry collection to Rs 32,241 cr

Indian News       Jul 14, 2019

NEW DELHI: Led by LIC, life insurers' collective new premium income jumped 94 per cent to Rs 32,241.33 crore in June this year, according to data from Insurance Regulatory and Development Authority.    All the 24 life insurers had written new gross premium of Rs 16,611.57...

Top 10 states have 83% penetration of outstanding portfolio: Equifax-SIDBI study

Indian News       Jul 11, 2019

  MUMBAI:  “Microfinance Plus”, a quarterly publication by Small Industries Development Bank of India (SIDBI) and Equifax revealed growth in overall volume in loan disbursement by 20 per cent in FY18.   From the overall industry’s gross loan portfolio, 83% was contributed by top 10 states, West...

Deposits in Jan Dhan accounts cross Rs 1 lakh crore

Indian News       Jul 10, 2019

   New Delhi: Deposits in bank accounts opened under the Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the Rs 1 lakh crore mark.   According to the latest Finance Ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan...

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