Siddharth Mohanty, MD and CEO, Life Insurance Corporation Talking...
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Arthur J Gallagher strikes $13.5 billion deal to strengthen US insurance broker business
Gallagher follows in the footsteps of rivals Aon and Marsh...
PM Modi to inaugurate women centric LIC Bima Sakhi Yojana on Monday
Prime Minister Narendra Modi Aiming to provide rural women with job...
Bank frauds worth Rs 71,500 crore detected in FY19 states RBI report
Among bank groups, public sector banks (PSBs), which constitute the largest market share in bank lending, have accounted for the bulk of frauds reported in 2018-19. It was followed by private sector banks and foreign banks
FM unveils merger of 10 govt banks to revive economic growth from 5-yr low
Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set of mergers — Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine to form the nation’s second-largest lender; Canara Bank and Syndicate Bank will merge; Union Bank of India will amalgamate with Andhra Bank and Corporation Bank; and Indian Bank will merge with Allahabad Bank.
100% FDI in insurance intermediaries notified
The FDI limit was set at 49 per cent till now. Industry had said the move to allow 100 per cent FDI for insurance intermediaries is a positive one and will help in the long-term and holistic development of the industry.
Insurance broking body opposes 100% FDI in the sector
In an earlier missive to the chairman of the insurance regulator IRDAI SC Khuntia, the IBAI has said, “ An online survey of brokers was conducted where a slight majority (51%) were against FDI being increased and a significant majority (49%) were in favour. The IBAI work on the basis of the majority view and it is this context that the IBAI would like to reiterate the stand that it has consistently taken which is that FDI at this stage is not recommended for the industry.
Face-to-face distribution remains the primary mode of buying insurance in India:PwC report
A focus efforts on three areas of productivity, assistance and enablement along with exceptional customer experience and user friendliness, will ensure higher engagement and adoption from sellers.
Recapitalisation of Indian public sector banks disappearing into quicksand
During FY14-FY19, the government and Life Insurance Corporation (LIC) together infused Rs 3 trillion in PSBs. However, from the value creation objective, the scenario looks weak
Willis Towers Watson acquires Risk Capital Advisors
Jill Stewart, Head of Willis Towers Watson FINEX in Australasia reinforced that there is a strong alignment between the service offerings of RCA and that of Willis Towers Watson. “Combined with our financial lines expertise including Directors’ & Officers’, Professional Indemnity and Cyber Insurance, we now have one of the most complete financial and executive risk offering in the Australasian market to support clients in a wide range of industries.
Ebix to acquier Yatra Online for Rs 2,314 crore
The transaction will create India’s largest and most profitable travel services company, and a leading online travel platform poised to capture significant international growth opportunities that would also create World’s leading End-to-End Enterprise Financial and Insurance Services Provider.
5.89 lakh unregistered telemarketers blacklisted since 2011 for pesky calls: Ravi Shankar Prasad
Further, a penalty of Rs 4.16 crore was deducted from the security deposit of registered telemarketers and deposited with the Telecom Regulatory Authority of India (Trai), Communications Minister Ravi Shankar Prasad said in a written reply to the Lok Sabha.
Budget 2019-20 allows 100 % FDI in insurance broking
“The FDI limit from 40 per cent to 100 per cent is has been done to encourage higher overseas investment into the country,’’ said Sitharaman while presenting Budget 2019-20 in the Lok Sabha ,