25,000 gram panchayats will be covered this time, with gram...
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IRDAI reconstitutes Insurance Advisory Committee
The IAC advises the Irdai on framing regulations, protecting...
Modernising Indian Insurers: Technology route to transformation
Organisations that are moving towards modular systems and...
Young Indians: From aspirational spending to aspirational planning
The shift is evident on social media, where conversations increasingly centre on insurance coverage, SIPs, credit scores, and early retirement, rather than unchecked consumption. In this environment, sharply focused financial products such as term insurance are being...
IDBI Bank strategic sale scrapped as financial bids below reserve price: Sources
Currently, the government and state-owned LIC together hold a 94.71 per cent stake in IDBI Bank. The government owns 45.48 per cent, and LIC holds 49.24 per cent in the lender. Of this, the government and LIC are looking to sell 60.72 per cent in IDBI Bank.The...
Warburg Pincus considers options for Asian insurer Oona
Warburg Pincus and Abhishek Bhatia, a former executive with billionaire Richard Li-backed FWD Group Holdings Ltd., set up Oona with a $350 million equity commitment in 2022. It has acquired two general insurance businesses in the region, Abda in Indonesia and MIIC in...
Govt undertakes special drive to enable cooperative banks to become insurance distributors
Amit Shah,Union Minister for Home and Cooperation Under the campaign, in alignment with the goal of Insurance for All by 2047 and to realise the vision of Sahakar se Samriddhi, a special drive has been undertaken by the Ministry of Cooperation to enable Cooperative...
Indian Accounting Standards (Ind AS): IRDAI issues exposure draft,to implement new accounting system for industry from Apr 1
The proposed amendments aim to promote greater consistency, transparency and comparability in financial reporting across the insurance sector, in alignment with globally accepted standards,while preserving regulatory prudence and safeguarding policyholder interests...
Marsh exploring selling its financial risk manager and life insurance broker for high-net-worth individuals in Asia
PCS provides financial risk management and life insurance services to more than 8,000 clients in about 50 markets, with offices in Singapore, Hong Kong, Shanghai, Geneva and Zurich, according to its website. Marsh is exploring a sale of its financial risk manager and...
Utkarsh Small Finance Bank’s strategic partnership with Kotak Mahindra Life Insurance
Utkarsh Small Finance Bank today announced a strategic partnership with Kotak Mahindra Life Insurance marking a significant milestone in the bank’s product expansion strategy. This collaboration significantly strengthens Utkarsh SFBL’s life insurance vertical,...
Issue of shortage of actuaries in industry needs to be addressed urgently:IRDAI Chairman
``The United States has more than 40 fellow actuaries per million people and the United Kingdom more than 250, while India has fewer than one per million. Compounding this, IAI's(Institute of Actuaries) total membership has fallen from around 12,000 in 2011 to...
Suresh Agarwal appointed as MD & CEO designate of life insurance JV between Mahindra and Manulife
Suresh Agarwal, MD & CEO designate of proposed life insurance joint venture between Mahindra & Mahindra and Manulife Suresh has nearly 30 years of experience in life and general insurance, corporate, and retail lending. He has spent significant part of his...
ICICI Pru Life loses GST appeal cases, may have to pay over Rs1200 crore of taxes
However, in both the cases, the life insurer will file an appeal against the unfavourable orders before appropriate authority in due course and there are no financial implication for the company at this stage, the company said in an exchange filing on Thursday....