LIC Board to meet on Monday in New Delhi to finalise IDBI acquisition deal

Indian News       Jul 15, 2018

  Mumbai: The Board of Directors of state-owned Life Insurance Corporation (LIC) of India is having a unscheduled  board meeting on Monday in New Delhi to finalise its proposal to buy 51 per cent stakes in debt laden IDBI Bank.   ``Yes, we have called for a...

Life insurers' premiums rise by 11% to Rs 36,729.79 in Q1

Indian News       Jul 14, 2018

  Mumbai: Cumulatively, the gross new business premium of all life insurers rose by 10.78 percent to Rs 36,729.79 crore during April-June period of the current fiscal year, according to the insurance regulator IRDAI’s data. For LIC, the new business during first three months of this...

V. Manickam Secretary-General Life Insurance Council,

Indian life insurance industry’s total assets hit Rs 34 lakh cr, AUM touches Rs 32 lakh cr in 2017-18, says Manickam

Indian News       Jul 11, 2018

  Mumbai The total assets of the Indian life insurance industry have hit Rs 34 lakh crore while the asset under management (AUM) has touched around Rs 32 lakh crore in 2017-18.   In an exclusive interview with the Asia Insurance Post, V. Manickam, Secretary-General Life Insurance...

Global insurance prms rise to$5 trillion, up 1.5%  in 2017, China-led emerging markets drive growth:Swiss Re’s Sigma

International News       Jul 05, 2018

  Zurich: Global insurance premiums increased 1.5% in real terms1 to nearly USD 5 trillion in 2017, after rising 2.2% in 2016.   in 2016. global life premiums increased to roughly USD 2.7 trillion in 2017, while global non-life premiums rose to approximately USD 2.2 trillion. Growth...

Employees' unions of LIC, IDBI Bank & banking industry oppose LIC acquiring IDBI Bank

Indian News       Jun 30, 2018

  Mumbai:  The employee unions of the Life Insurance Corporation, banking industry and IDBI Bank have staunchly opposed the proposed move facilitated by the government to allow Life Insurance Corporation to acquire majority stakes in debt-laden IDBI Bank.   The IDBI Bank Officers’ Union has threatened to...

IndiaFirst Life to offer insurance products through Oxigen Micro ATM

Indian News       Jun 26, 2018

  Mumbai: Aiming to establish access to customers in remotestareas of the country. IndiaFirst Life Insurance has announced its tie-up with Oxigen Services India Pvt. Ltd, to establish distribution of its insurance products at Oxigenretail outlets.    In addition, it will empower retailers to form a new...

IDBI-LIC stake deal: FinMin official says boards to take a call

Indian News       Jun 25, 2018

  Mumbai: The government today sounded evasive about the media reports that it was planning to ask LIC to take a controlling stake in the crippled IDBI Bank, saying the boards of the respective entities will take a call on the matter.   "Both IDBI Bank and...

LIC likely to pick up 40% stake in  IDBI Bank 

Indian News       Jun 22, 2018

  Mumbai: IDBI Bank shares jumped as much as 5.9 per cent to Rs 61.15, their biggest intraday percentage gain since June 7, on the report.that the Government is considering to divest 40-43 per cent stake in IDBI Bank to Life Insurance Corporation of India, potentially...

N.S. Kannan, newly appointed MD &CEO of ICICI Pru Life

NS Kanan succeeds Bakhshi as new ICICI Life chief

Indian News       Jun 18, 2018

  Mumbai: In a top level reshuffle at the ICICI group, the bank’s executive director NS Kannan has been appointed as the chief executive of ICICI Prudential Life Insurance company for a period of five years, effective from June 19, subject to regulatory approvals, the bank...

Life insurers new premium collection grows 9 per cent in May

Data       Jun 13, 2018

  Hyderabad: New premium collection of life insurance companies rose by nearly 9 per cent to Rs 12,838.24 crore in May compared to the same month last year, according to the Irdai data.   All the 24 life insurers had written new gross premium of Rs 11,801.01...

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