The insurers that have been granted forbearance and are scheduled...
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China to pump $45 billion into state banks, insurers in capital-boosting push
Last week, the National Financial Regulatory Administration...
Insurer can’t reject claim if alcohol habit disclosed before policy purchase: Consumer commission
The commission, however, pointed out that the medical examination...
ICICI Bank acquires 2% stake from joint venture partner of its life insurance arm for Rs 1,470 cr
the bank's shareholding in ICICI Life stands at approximately 52.8 per cent. New Delhi: ICICI Bank on Wednesday said it has raised its stake in its life insurance venture by buying a 2 per cent stake from its joint venture partner for a sum of Rs 1,470 crore. The bank...
LIC launches 2 New Plans: Bima Platinum and Jeevan Raksha
On the occasion of 70th anniversary of Life Insurance Corporation, R. Doraiswamy, the CEO & MD,LIC, launched two new plans- Bima Platinum (Plan 770) andJeevan Raksha (Plan 894). LIC’s Bima Platinum is a Non-Par, Non-Linked, Individual Plan which offers an...
LIC at 70: Seven Decades of Trust, Protection and Progress
As LIC enters its eighth decade, it stands at the intersection of tradition and transformation. Armed with a robust digital infrastructure, a diversified product suite, unmatched financial might, a strong army of dedicated agents, distribution partners, employees and...
AI and Life Insurance: The next frontier for India
AI can help make life insurance more personalised, relevant and transparent for customers, while simultaneously revolutionising product development, distribution and operational efficiency for insurers. Gyanendra Singh, Chief Technology Officer, Aviva India India...
India’s Financial Inclusion Index rises from 53.9 in 2018 to 67 in 2026
The Pradhan Mantri Jan Dhan Yojana (PM-JDY) accounts have grown four times since 2015 to 59.09 crore and deposits have risen 20-fold to Rs 3,16,514 crore.Nearly 45.95 crore PM-JDY accounts are in rural and semi-urban areas, while 13.14 crore are in urban and...
IndiaFirst Life redrafts its IPO plans, to deploy Salesforce Agentforce for AI overhaul
Rushabh Gandhi, Managing Director & CEO, IndiaFirst Life Insurance and Arundhati Bhattacharya, President and CEO, Salesforce – South Asia at an event in Mumbai to announce partnership between IndiaFirst Life Insurance and Saleforce Rushabh Gandhi, Managing...
Breaching EoM: IRDAI restricts Edelweiss Life and Pramerica Life from opening any new branches for next 6 months
IRDAI is committed to ensuring that insurers operate within the regulatory guardrails governing their expenses, thereby promoting sound financial management, transparency and accountability across the insurance sector. It will continue to take appropriate supervisory...
SEBI drops fraud allegations against Max Financial, Axis Bank in Rs 3,912-crore case
The scrutiny originated with the Insurance Regulatory and Development Authority of India (IRDAI). In November 2022, IRDAI informed SEBI that MFSL and Axis Bank had entered into a series of buy-and-sell transactions involving unlisted equity shares of Max Life. IRDAI...
From Salary to Security:Evolving Employee protection in India
For employers, employee benefits should not be treated merely as an annual renewal exercise. For employees, understanding their benefits should become as important as understanding their salary. And for insurance brokers, it means moving beyond policy placement...
Govt working on amendments to Actuary Act, 2006: DFS official
Debasish Prusty, Additional Secretary, DFS, Ministry of Finance Institute of Actuaries of India(IAI) launched its job portal, a dedicated platform designed to connect actuarial professionals and talent with relevant career opportunities, while strengthening engagement...