Max Financial to raise Rs 5,000 cr to fund acquisitions of life insurance arm 

Indian News       Mar 21, 2018

New Delhi: The board considered raising of funds by way of debt for the purpose of making investments in its subsidiary Max Life Insurance Company Ltd (Max Life) to enable it to drive growth through acquisition opportunities, Max Financial Services said in a regulatory filing.  ...

UK insurer Prudential says to split into two

International News       Mar 14, 2018

London: British insurance giant Prudential announced today that it will split into two separate companies, with one focused on asset management and the other on insurance.   The 170-year-old firm said Wednesday it will demerge M&G Prudential, its U.K. and European business, leaving investors with shares...

New premium of life insurers up 27% on year at Rs 13,698 cr in Feb

Indian News       Mar 14, 2018

New Delhi: Life insurance firms reported an increase of about 27 per cent in its new premium collection in February at Rs 13,698.52 crore, data from insurance regulator Irdai showed today.   Of all the 24 life insurance firms, countrys only state-owned as well as the...

Sanjeev Nautiyal appointed as MD and CEO of SBI Life

Indian News       Feb 27, 2018

New Delhi: SBI Life Insurance Co today said Sanjeev Nautiyal, chief general manager of State Bank of India (SBI)'s Ahmedabad circle  has been nominated as its next MD and CEO as the current head Arijit Basu has been posted as Deputy Managing Director of Corporate...

Financial crime on the rise in India’s life insurance sector: EY report

Indian News       Feb 22, 2018

Mumbai: A report by the conulting firm Ernst & Young (E&Y), based on survey of insurance professionas, has said the rising transactions with third parties, data privacy concerns and gaps in operational processes have augmented financial crime risks in the life insurance sector,   EY Fraud...

VK Sharma, chairman, LIC, flanked by two MDs, Usha Sangwan(L) Hemant Bhargava(r) at a media meet on Friday

LIC's investment in equities may exceed Rs 80,000 crs in FY 2017-18

Indian News       Feb 16, 2018

Mumbai: Country's  largest insurer Life Insurance Corporation has invested Rs 70,000 crore in equity markets till the end of the third quarter and plan to invest another Rs 10,000 crore by the end of current financial year. In the month of December and January, LIC...

(L to R) K.S. Gopalakrishnan,CEO RGA India,TS Vijayan, Chairman,, IRDAI at the 19th Annual Global Conference of Actuaries on Tuesday in Mumbai.

Life insurance industry premium inflows at Rs 6 Lakh crore, assets touch Rs 35 Lakh cr in 2017:IRDAI Chief

Indian News       Jan 30, 2018

Mumbai: TS Vijayan, chairman, IRDAI has said the Indian lfe insurance industry has mobilised Rs 6 lakh crore premium and its assets have touched Rs 35 lakh crore in 2017. The Indian life insurance industry recorded a premium income of Rs 418476.62 crore during 2016-17...

```We will be abiding by the SAT order,’’ says Mr Nilesh Sathe, Member, Life, IRDAI

SAT quashes IRDA's order to transfer Sahara Life's business to ICICI Pru Life

Indian News       Jan 11, 2018

  Mumbai: Giving partial relief to the Subrat Roy promoted Sahara India Life Insurance Company, the Securities Appellate Tribunal (SAT) on Thursday has quashed an order passed by the insurance regulator IRDAI  in July 2017 to transfer the insurance business of financially embattled life inurer to...

Life insurance industry witneses 12 pc jump in  surrenders/withdrawals of policies in 2016-17

Indian News       Jan 05, 2018

  Hydearbad: Reflecting an unsteady trend, the Indian life insurance, which has grown its fresh premium by 14 per cent in 2016-17, has witnessed an increase of more than12 per cent  in surrenders/withdrawals of policies during the year.    According the latest annual report by the IRDAI,...

IRDAI Panel suggests competitive returns for life insurance customers

Indian News       Dec 17, 2017

Mumbai: A committee constituted by the Irdai has suggested host of changes in the life insurance sector, including in the investment norms to improve the returns generated by the funds.   The insurance regulator had notified the IRDAI (Non- Linked Insurance Products) Regulations, 2013 and IRDAI...

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