Life

R M Vishakha,MD and CEO, IndiaFirst Life

IndiaFirst Life net rises 20% to Rs 62 crore in FY19; total premium crosses Rs 3,200 crore

Indian News       May 20, 2019

Mumbai: IndiaFirst Life Insurance on May 20 said its net profit in 2018-19 grew 20 per cent to Rs 61.60 crore as against Rs 51.20 crore a year ago.   IndiaFirst said it has crossed Rs 3,200 crore of total premium during the financial year ended...

BoI to sell 25.05% stake in its life insurance joint venture

Indian News       May 10, 2019

  Mumbai: State run Bank of India(BoI) on Friday said, it plans to sell its 25.05 per cent stake in its decade old life insurance venture joint venture Star Union Dai-ichi Life Insurance(SUD).   In its request for proposal (RFP), the bank said  it is proposing to...

IRDAI asks insurers to expedite ``Cyclone Fani' claims

Indian News       May 07, 2019

  Mumbai: Even as the insurers are now busy in compiling the claims out of the cyclone Fani,that may hit around Rs 1000 crores,  the insuranace regulator IRDAI has asked all the insurers on Tuesday to extend every possible facilitation in quick and timely settlement of...

Subhash Khuntia,Chairman,IRDAI

IRDAI to unveil Risk Based Capital & Supervision soon:Khuntia

Indian News       May 03, 2019

  Mumbai: IRDAI Chairman, Subhash Chandra Khuntia has  announced three initiatives that the insurance regulator will be setting-up soon.They include (i) establishment of a risk-based capital system: a self-regulating mechanism where those who manage risk better will be allowed to operate with lower capital; (ii) risk-based...

IDBI Federal Life reports a net profit of Rs 133 cr , up 31 per cent in during FY19

Indian News       May 03, 2019

  Mumbai: IDBI Federal Life Insurance, which is now owned by the Life Insurance Corporation(LIC), reported a net profit of Rs 133 cr during FY19, a growth of 31 per cent over FY18.  This is the 7th consecutive year of profit for the organisation since it...

Nilesh Sathe, member, Life, IRDAI

FDI in insurance industry can be raised to 74% over next 5-10 yrs, Sathe

Indian News       Apr 30, 2019

  Hyderabad Nilesh Sathe, member, Life, IRDAI  has said that the foreign direct investment(FDI)  limit in the insurance sector  can be further raised from 49 per cent to 74 per cent over  a period of next five to 10 years.   ``FDI limit in the Indian insurance...

Max India exploring new lines of businesses after divesting healthcare and health insurance

Indian News       Apr 29, 2019

  New Delhi: Analjit Singh's Max India announced its intent to enter new areas of business after the two recently announced transactions are concluded. Max India is currently in the midst of selling 51% stake in its Health Insurance JV Max Bupa, to leading private equity...

HDFC Life Insurance net profit rises 5% to Rs 364 cr in March quarter

Indian News       Apr 27, 2019

  Mumbai: HDFC Standard Life Insurance on April 26 reported a 5 per cent rise in standalone net profit to Rs 364.01 crore for the fourth quarter ended March 31. It had registered a net profit of Rs 346.84 crore in the corresponding quarter of 2017-18.  ...

ICICI Prudential Life Q4 profit slips 23% to Rs 261 crore

Indian News       Apr 25, 2019

  Mumbai: ICICI Prudential Life Insurance on April 24 reported a 23 per cent decline in consolidated net profit at Rs 261.02 crore for the January-March quarter of 2018-19.   The ICICI Bank subsidiary had reported a net profit of Rs 340.26 crore in the same quarter...

Life insurance industry's new prm grows 11 % to Rs2,14,672 cr in 2018-19, Private sector gain market share

Indian News       Apr 24, 2019

  Mumbai:  Witnessing further recovery,, the life insurance industry, at Rs2,14,672 crore, has recorded  a growth of 11 per cent  in 2018-19, largely driven by individual non-single premium  and group single premium. However, the number of policies, sold by the 24 players including the lone state...

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