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GIC Re’s net profit falls 14% to Rs1605 cr in Q2FY24, resumes topline growth
``Having had significant degrowth in last few quarters, we believe...
Insurers to lead bids for Reliance Industries’ mega bond issue – bankers
"There is demand from long-term investors like insurance and...
Over 89,000 people in Tamil Nadu benefited from Ayushman Bharat: PM Modi
Modi said that about 1.57 crore people were under the Ayushman Bharat Yojana or Modicare in Tamil Nadu.
Insurers’ Wish-List for the Budget 2019-20
“We are hoping for positive tax benefits in the home insurance area as in the last year we have seen some major calamities and home insurance has certainly gained importance. We are also hoping for some regulatory framework in the healthcare/pharma industries to make insurance a reality for all in India”Rikhil Shah, Chief Financial Officer, SBI General Insurance
Rahul Gandhi promises minimum income guarantee to poor if Congress returns to power
“The Congress has decided to take a historic decision…The Congress-led government is going to give minimum income guarantee. This means, every poor person in India will have a minimum income. This means there will be no hungry, poor people in India (any longer),” Gandhi said.
PolicyBazaar aims to collect Rs 3,500 crore premium in FY19
Policybazaar.com has backing from a host of high-profile investors including Softbank, InfoEdge (Naukri. com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital.
Budget may provide Rs 4,000-4.500 cr capital infusion for 3 ailing PSU general insurers
According to sources, the Department of Financial Services sought Rs 4,000 crore in the Budget for fund infusion in three insurance companies — National Insurance Company, Oriental Insurance Company and United India Insurance Company.
SBI Gen profit at Rs 89 cr, up 53%, records u/w profit of Rs 49 cr in Q3 FY 2018-19
With a valuation of Rs 12,000 crore at the end of Q2 FY 2018-19, the company’s share price has gone up to Rs 84 in Q3 2018-19 from Rs 60 in Q2 2018-19.,
SBI General is planning to float an IPO during the fourth quarter of FY 2019-20
IRDA to issue new norms on the use of Aadhaar Card for eKYC
“On the basis of our consultation with the (UDAI, we will allow the use of Aadhar Card as long as the insurer mask the 12 digit no and only use the QR code. We will issue new guidelines on the issue soon ,’’said senior official of the IRDAI
LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI
“LIC, with its higher stake in IDBI Bank, is still an investor and not a promoter of the Bank as we will ask LIC to lower its stake in IDBI Bank from 51 per cent. We haven’t decided how much time we would allow LIC to lower its stake in IDBI Bank.,’’ said Nilesh Sathe, member, LIfe, IRDAI
Govt may target disinvestment in the merged PSU insurer in 2019-20
The government has proposed merging three state-owned general insurance companies — National Insurance, Oriental Insurance and United Insurance – and then listing the single entity.
Piyush Goyal named interim Finance Minister days before budget
Jaitley will remain a minister without portfolio during the period of his indisposition or till such time he is able to resume his work as the Minister of Finance and the Minister of Corporate Affairs.