Rushabh Gandhi, MD&CEO designate, IndiaFirst Life Insurance...
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Sebi allows LIC 3-yrs from now to comply with 10% minimum public shareholding norms
The corporation now has to achieve 10 per cent public shareholding...
Digit raises Rs. 1,176.59 crore from anchor investors
Out of the total allocation of 4,32,57,009 equity shares to the...
ICICI Lombard launches “Corporate India Risk Index”
Bhargav Dasgupta, MD & CEO, ICICI Lombard said “Effective risk management starts with having quantifiable risk measurement tools. As we embrace risk mitigation practices, we must have these basic building blocks in place.This initiative will empower India Inc. to gauge risks better, understand their level of preparedness and accordingly adopt effective risk management practices.”
GIC Re records a net profit of Rs 987 cr in Q3 FY21, cautiously grows its prm to Rs 11,668 cr
The third largest Asian reinsurer had improved its combine ratio to 108.5 per cent during the reporting quarter as compared to 130.4 per cent in the yaer ago period.
Although Covid-19 influence remains on the insurance industry, severity of the impact is gradually reducing and the same is reflected in the results of the industry. GIC Re’s financials have shown indications of positivity and signals turnaround in the near future,said Devesh Srivastava, CMD, GIC Re.
IRDA issues alerts on fraud company selling insurance policies “Digital National Motor Insurance”
The IRDAI has cautioned the public not to make any transaction related to insurance business with M/s DIGITAL NATIONAL MOTOR INSURANCE.
Poonawalla Group takes over Magma Fincorp in Rs 3,456 cr deal
Mumbai based Magma Fincorp began operations nearly three decades ago as a non-deposit taking NBFC offering a bouquet of products including commercial finance, agri finance, SME finance, mortgage finance and general insurance apart form affordable housing.
India achieves 60 lakh Covid-19 vaccinations in 24 days, fastest in world: Health ministry
Twenty-three deaths have been recorded till date which comprise 0.0004 per cent of the total vaccinations, the ministry said. Of these, nine people died in hospital while 14 deaths were recorded outside the hospital.
In 24 hours, a 29-year-old woman, a resident of Srikakulam in Andhra Pradesh, has died.
“None of these deaths have been causally linked with Covid-19 vaccination. No case of serious/severe AEFI/Death is attributable to vaccination, till date,” the ministry stated.
420 e-Hospitals established under Digital India initiative: Ravi Shankar Prasad
“e-Hospital is an initiative of #DigitalIndia that has made it easy for the citizens to take appointments in major hospitals. Now there is no need to stand in long queues to take appointments, when you can get it online,” the Minister said.
Twitter says will not fully comply with India govt orders to take down some accounts
The government has played hardball, sending Twitter a notice of non-compliance last week that threatens its executives with jail terms of up to seven years and the company with fines if it does not block the content. Twitter said it had suspended more than 500 accounts that were engaging in clear examples of platform manipulation and spam, and had also taken actions on hundreds of others that breached its rules relating to the inciting of violence and abuse.
Intl passenger traffic fell by 90.56 pc in March-Dec 2020: Govt
”Revenues of major Indian scheduled carriers fell from Rs. 46,711 crore during April-September 2019 to about Rs. 11,810 crore during April-September 2020. Their full time and contractual employment which was 74,887 as on 31 March 2020 fell to 67,906 as on 30 September 2020,” Puri told Rajya Sabha in a written reply to a question.
LIC’s net profit rises marginally to Rs 2,713 crore in FY 2019-20, pvt sector life insurers’ net profit falls by 13 %
Out of the 24 life insurers in operation during 2019- 20, 17 companies reported profits in 2019-20
The total profit reported by state owned Life Insurance Corporation (LIC) during 2019-20 has risen marginally from Rs 2,689 crore in 2018-29 to Rs 2,713 crore.
The net profit of the private sector fell by 13 per cent y-o-y to R 5,016 crore in 2019-20(Rs 5,747 crore in the previous year).
Life insurance policies bought by women fall in FY 2019-20
The share of women in the year 2019-20 has decreased to 32 per cent in number of policies and 34 per cent in First Year Premium compared to 36 per cent and 37 per cent respectively in the year 2018-19.
Out of 93 lakh policies bought by women, nearly one-third policies have come from three States, Maharashtra (11.98 per cent), West Bengal (10.60 per cent) and Uttar Pradesh (9.87 per cent);
Similarly, out of Rs 34,737 crore FYP contributed by women, slightly more than one-third have come from three States, namely, Maharashtra (17.05 per cent), West Bengal (9.66 per cent) and Uttar Pradesh (8.66 per cent).
The proportion of women policies in case of private life insurers was 27 per cent and that of LIC was 34 per cent