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Mahindra Finance acquires 20 pc stake in Mahindra Insurance Brokers for Rs 206 cr
The company, pursuant to receipt of approval from the Insurance...
LIC to appeal against GST tax notice of Rs 290 crore
The tax authority has alleged that among other violations, LIC did...
WhatsApp leak: Sebi to soon take action against market operators, cos’ senior staff
The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive information (UPSI), including financial results before they were made public for all investors, regulatory sources said.
Govt decriminalises suicide, bans electric shocks for mentally-ill kids
As per the Act, the government will have the duty to provide care, treatment and rehabilitation to the person, who attempts suicide and has severe stress, to reduce the risk of recurrence of attempt to commit suicide
Pratt & Whitney engine issue returns, IndiGo flight aborts takeoff
In March, IndiGo had grounded 11 of its A320 neo planes with faulty P&W engine following a direction from the Directorate General of Civil Aviation. Three GoAir planes were also grounded
India to be shared mobility leader by 2030: Report
As per World Bank data, 850 million of Indian are below the age of 35 and since young people are usually quicker to adopt new trends and are less likely to own a car, implying a likelihood of adopting new mobility options.
NIA launches $ 5 mn maiden P&I cover for ship owners
“This is the first time that any domestic player has entered in the segment, which is dominated by international players under the exemptions given by the regulator,” said G Srinivasan New India Assurance Company chairman and managing director
UK’s Legal & General exits Indian market,sells 26 % in IndiaFirst Life Insurnace to Warburg Pincus
Simon Burke, Group Commercial Director, Legal & General said that the company has refocused its insurance business in recent years on the UK and the US and as a consequence we have disposed of a number of operations, including our businesses in The Netherlands, Ireland, France, Egypt and The Gulf. We are now following this strategy in relation to our stake in IndiaFirst Life.
Govt bans sale of motor TP policy without PUC, compliance report by June 15
“It must be ensured that no third-party insurance policy is issued or renewed without ascertaining the availability of a valid PUC. In case of transport vehicles, the availability of a valid fitness certification is also mandatory.
Max Life’s net profit falls by 20 per cent to Rs528 cr in 2017-18
The life insurer recorded Individual adjusted first year premium of Rs. 3,215 crore achieving growth of 22% in 2017-18 (FY18). During the reporting period, the Gross Written Premium of the company grew by 16% to Rs. 12,501 crore, while the renewal premium recorded growth of 15% to Rs. 8,152 crore
Acko gets $12-m funding from Amazon, others
Acko’s other investors include Accel Partners, SAIF Partners, Swiss Re Reinsurance Holding Company Ltd, Transamerica Ventures Fund as well as Venk Krishnan and Subba Rao from NuVentures.
New India Assurance looks to lower health-loss ratio to 95%
“We will be bringing down the health-loss ratio. This year (in FY19), it will come down to 95 from 103 per cent. To break-even, the ratio has to come down to 85 per cent, which will happen in the next one year later (FY20),” said G. Srinivasan,chairman and managing director, NIA