Prudential Holdings to sell up to 3.71% in ICICI Pru Life to raise Rs 1,600 cr

Indian News       Mar 25, 2019

   Mumbai: Prudential Corporation Holdings Ltd plans to sell up to 3.71 per cent stake in ICICI Prudential Life Insurance Co Ltd to raise nearly Rs 1,600 crore. The offer for sale of shares by the promoter begins on Tuesday.   "Prudential Corporation Holdings (the seller) of...

Sebi modifies commissions, disclosure norms for MF industry

Indian News       Mar 25, 2019

  Mumbai: Markets regulator Sebi on Monday reviewed and modified the commission as well as disclosure norms for the mutual fund industry. The move comes after the regulator in October 2018 asked the asset management companies (AMC) to adopt full trail model of commission in all...

MR Kumar takes charge as LIC chairman

Indian News       Mar 13, 2019

  Mumbai: M.R.Kumar has taken charge as chairman of Life Insurance Corporation today.The post had fallen vacant after VK Sharma retired in Dec end.   Kumar was In-charge of North Zone comprising of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan States and Union Territory of...

MR Kumar, newly appointed Chairman of LIC

MR Kumar appointed LIC chairman, Susheel K and Vipin A as MDs

Indian News       Mar 13, 2019

  New Delhi: The centre has finally appointed MR Kumar, 57, Zonal Manager(ZM), Delhi, as  the chairman of the Life Insurance Corporation.   In a late evening announcement, the Department of Personnel and Training( DOPT), along with Kumar's name as chairman, has also notified the appointment of...

Bharti AXA Life Insurance hires 10,000 insurance advisors and sets up 50 new branches across India

Indian News       Mar 11, 2019

Mumbai: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, and AXA, today announced that the company has hired 10,000 insurance advisors and set up 50 new branches across India in the current financial year.   The aggressive expansion drive is part of the company’s...

IRDAI seeks proposal from LIC on stake reduction in IDBI Bank

Indian News       Mar 11, 2019

New Delhi:: Insurance Regulatory and Development Authority of India (IRDAI) stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks.  ...

Standard Life to sell 4.93% stake in HDFC Life for Rs 3,500 crore

Indian News       Mar 11, 2019

  Mumbai: Standard Life Mauritius Holdings, the joint venture partner in HDFC Life Insurance, is planning to sell 4.93 per cent stake, or 99.5 million shares, in the life insurance firm at a floor price of Rs 357.50 per equity share.   This is supposed to fetch...

Kane Tanaka, recognised as the world's oldest person, the Guinness World Records

116-Year-Old Japanese Woman Named World's Oldest Living Person

Facts       Mar 09, 2019

A 116-year-old Japanese woman who still enjoys studying math and playing board games has been recognised as the world's oldest person, the Guinness World Records said on Saturday. Kane Tanaka was born on 2 January 1903, the year when the Wright brothers launched the first...

China set to be the largest global insurance market by mid-2030s:Swiss Re

International News       Mar 06, 2019

  Zurich: Emerging markets will remain the growth engine for the global economy and insurance industry over the next decade, the latest sigma report from Swiss Re Institute shows. The study explores how the seven largest emerging markets will contribute more than 40% of global growth...

IRDAI pulls up insurers for non- compliance of Insurance Ombudsman awards

Indian News       Mar 05, 2019

  Hyderabad: Coming down heavily against the insurers, the insurance regulator IRDAI n Tuesday has directed them to submit data pertaining to compliance of awards passed against them by  Insurance Ombudsman. According to TS Naik, general manager,Consumer Affairs Department, IRDAI, the regulator has found good deal  ...

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