LIC is reportedly in the final stages of acquiring a significant...
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Hinduja Group’s IIHL takes over Reliance Cap as lenders withdraw NCLAT petition
The Committee of Creditors (CoC) of Reliance Capital has informed...
LIC offices to be open on Sat, Sun and Monday
LIC on Friday said its branches will be open during the weekend and...
Insurance industry not expecting any large claims out of earthquake damages in Myanmar and Thailand
This is a significant human tragedy. Unfortunately, there will be a notable protection gap highlighting the continuing need to bring more insurance capital into emerging markets. In comparison to primary perils such as typhoons and floods, earthquake risk in Thailand...
ICICI Pru Life Insurance gets demand notice of Rs 328.4 cr from I-T Dept
The demand notice served on various counts, including shareholders' income taxed as income from other sources and certain marketing and advertising expense considered as inadmissible expenses and hence disallowed, ICICI Prudential Life Insurance said Mumbai: ICICI...
Exclusive cooperative insurance firm on anvil, to provide coverage to all cooperative societies in country: Amit Shah
Amit Shah, Union Minister of Home Affairs and Co-operation To further strengthen the cooperative sector in India, Shah said, a cooperative insurance company will be set up soon that will provide insurance coverage to all cooperative societies in the country. He exuded...
Wipro awarded £500m deal from UK insurance giant Phoenix Group
As per the deal, Wipro’s existing FCA-regulated entity Wipro Financial Outsourcing Services Limited (WFOSL) will deliver comprehensive life and pension administration services to Phoenix Group’s ReAssure customers Mumbai: IT services company Wipro on Wednesday (26)...
Federal Bank increases its stake in Ageas Federal Life Insurance by 4% to 30 %
Federal Bank has increased equity stake in Ageas Federal Life Insurance(AFLI) by four per cent to 30 per cent. Jude Gomes, MD & CEO, Ageas Federal Life Insurance, said, “We welcome this step by Federal Bank, which reflects the continued trust and confidence in our...
Insurers demand longer term assets to fund Govt’s Rs29.7 lakh crore debt pile
The finance ministry has set a record target of Rs 2.5 trillion of debt to be swapped for the fiscal year starting April 1. With the insurance sector expanding at 12%-13% annually, the goal is within reach, according to Vidya Iyer, head of fixed income at ICICI...
Tata AIA’s Swaminathan S. Iyer appointed as Member, Life, IRDAI for 5 yrs
Swaminathan S. Iyer, Member-designate, Life, IRDAI ``The Appointments Committee of the Cabinet (ACC) has approved the Swaminathan to the post of Whole Time Member (Life), Insurance Regulatory and Development Authority of India (IRDAI) for a period of five years from...
Underinsurance Survey 2025: Shifting life insurance trends
Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance The survey by Bajaj Allianz Life Insurance, in collaboration with NielsenIQ, reveals a significant shift in life insurance trends, with the average age of first-time buyers dropping from 33 to 28 years. Family...
India’s financial system resilient, diverse: IMF report
The report observed that India's insurance sector is strong and growing, with a significant presence in both life and general insurance. The sector has remained stable, supported by better regulations and digital innovations New Delhi: The Indian financial system has...
Bajaj Finserv shares slip over 4 pc in 6 months amid insurance deal
Bajaj Finserv will spend Rs 13,780 crore to acquire the general insurance business and Rs 10,400 crore for the life insurance arm Mumbai: Shares of Bajaj Finserv continued to decline on Friday by falling 0.53 per cent during intra-day trade to Rs 1,842 on the National...