In a regulatory filing, REL posted a letter written by Danny...
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GIC Re:Gross premium grows 14% to Rs 9,967cr, net profit rises 7% to Rs 1621cr in Q3FY25
N Ramaswamy, CMD, GIC Re One of the outstanding features of GIC...
Draft bill seeking 100 pc FDI in insurance to be sent for Cabinet nod soon: DFS Secretary
Finance Minister has already given her approval and announced in...
LIC withholds dividend payment to govt in last 2 yrs, conserves Rs 6,300 cr capital
Sources at LIC said that the corporation has already accumulated Rs 6,300 crore of capital by not paying any dividend to the government in recent years and planning raise more though, at present it is not known how it will do it Mumbai: In a bid to conserve capital,...
BJD MP urges GST Council to reduce tax on health insurance from 18% to 5% for sr citizens
“In order to provide relief to our senior citizens, it is necessary to reduce the existing GST rates on health insurance policies from 18 per cent to five per cent or exempt senior citizens from any GST on purchase of health insurance,” Patnaik said in the letter...
Marsh raises stake in its India JV to 92% from 49%
Though the financial details have not ben disclosed Marsh has informed that as part of the transaction, which has been approved by the IRDAI, it has acquired the share from local partners, including the entire shareholding of the Rampart Trust Earlier, other global...
India’s insurance penetration expands by 12% to 4.20% 2020-21,non-life penetration hits 1%
Atul Sahai, CMD, New India Assurance and chairman of General Insurance Council Non-life insurance penetration touching 1 per cent is a very important milestone for the Indian non-life insurance industry. Despite being an extremely challenging year the non-life...
Incurred claims of standalone health insurers grow at slower pace in Covid-hit FY21
As per the Annual Report 2020-21, the net incurred claims of the general insurers stood at Rs 1.12 lakh crore in 2020-21 as against Rs 1.08 lakh crore in 2019-20. The incurred claims exhibited an increase of 2.92 per cent during 2020-21 New Delhi: Net incurred claims...
Odisha CM launches livelihood assistance to beneficiaries of Biju Swasthya Kalyan Yojana
Chief Minister said, "the welfare programs for the poor is the most important program of the state government. The first and second waves of COVID-19 created a challenge for us. This has had a profound effect on people's economic and social lives. The poor have...
Haryana makes second dose of Covid vaccination mandatory from Jan 1, 2022
"From January 1, 2022, any eligible person who has not taken both doses of Covid vaccine will not be permitted in malls, hotels, restaurants, marriage palaces, cinema halls, offices, banks or any such places which attracts crowds," Vij said in the Haryana Assembly ....
ESG fund AUM jumps 4.7 times to Rs 12,320 cr in 2 years ending Nov: Report
AUM of Indian ESG funds is only a paltry 0.3 per cent of the over Rs 38.45 lakh crore mutual funds industry as of end-November 2021 and is only a negligible portion of the global fund pool of USD 35.4 trillion as of end 2020 Mumbai: Boosted by the pandemic, the ESG...
Auto industry hopes for smooth ride in New Year after a bumpy 2021
Tata Motors President, Passenger Vehicle Business Unit, Shailesh Chandra said, "Looking ahead, we expect the demand for passenger ICE and electric vehicles to remain strong even as concerns about the supply of semiconductors and high input costs continue alongside the...
Govt appoints non-official directors on boards of NIA,GIC Re and OIC
However, the ministry of finance has not selected any body for the IPO bound Life Insurance Corporation(LIC) which has provisions for two independent directors New Delhi:The government has appointed independent directors on board of various public sector insurance...