The Rs 1,50,000 limit for tax rebates is a pretty cluttered bucket and it does not give much space for the life insurance premiums (to get the full benefit of tax exemption), Karthik Raman, CMO and Head - Products, Ageas Federal Life Insurance, told PTI Life insurers...
Life
New life reinsurer “Martello Re” launched, funded by MassMutual, Centerbridge Partners and Brown Brothers Harriman
The company will initially focus on providing MassMutual and its subsidiaries with reinsurance capacity on current product offerings, after which it will offer its services selectively to other top insurers in the life and annuity space HAMILTON, Bermuda and...
FOCUS-Life insurers adapt pandemic risk models after claims jump
Claims rose most in the United States, India, and South Africa due to the more lethal variants and a rise in fatalities or illnesses among younger and unvaccinated groups The global life insurance industry was hit with reported claims due to COVID-19 of $5.5 billion...
LIC’s mega IPO to hit markets by March
Officials are working on the valuation of the company which manages more than $450 billion of assets, and once that is done they will issue a draft IPO prospectus for investors, a government and two banking sources with direct knowledge of the matter said. New Delhi:...
Life insurance is witnessing shift from ‘savings ’ to ‘protection’:IRDAI member
K. Ganesh, Member (Life), IRDAI said fintech will redefine distribution and customer services Pune: K. Ganesh, Member (Life), IRDAI has said the Covid-19 pandemic has changed the peoples’ perspective of life insurance from ‘savings oriented’ to ‘protection oriented’....
78% of Indians feel insurance is an important part of financial planning: SBI Life Survey
But 38% of the Indians feel that the situation could worsen over the next three months and their top three worries attributed to (1) Rising medical/ treatment cost (2) Instability of Jobs (3) concerns around Health of family/self Mumbai, January 12, 2022: SBI Life...
Government may seek Rs 15 trillion valuation for LIC, aims to file prospectus for IPO by Jan end
The government is still awaiting the completed valuation report, the people said, and projected valuations may change based on that. They added that LIC could be valued at as high as five times the so-called embedded value — higher than 3-4 times for most insurers...
Life insurers’ new business premium income nearly flat at Rs 24,466 cr in Dec
On a cumulative basis, the first-year premium of all life insurers during April-December 2021 jumped 7.43 per cent to Rs 2,05,231.86 crore Hyderabad: Life insurers' collective new business premium income stayed nearly flat from a year ago at Rs 24,466.46 crore in...
DPIIT to come out with revised FDI policy to facilitate LIC disinvestment: Secy
The matter is being discussed with the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM) New Delhi: The commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate...
IRDA proposes pay cut for insurance CEOs in case company underperforms financially, mulls tenure limit at15 yrs and age limit at 70 yrs
The variable remuneration should be reduced where there is deterioration in the financial performance of the insurer. The deterioration in the financial performance should generally lead to a contraction in the total amount of variable remuneration, which can even be...