Nippon Life Insurance Co.’s India unit is considering buying a...
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Draft Insurance Laws Amendment Bill in advanced stages, to be tabled in Parliament shortly: Minister Pankaj Chaudhary
Pankaj Chaudhary,Minister of State for Finance M Nagaraju,...
Insurance nominations can’t override personal succession laws: Karnataka HC
Justice Anant Ramanath Hegde ruled that a nominee can receive the...
Axis Bank says followed all rules in Max Life Insurance deal
The statement comes against the backdrop of two orders by the insurance sector watchdog Irdai in the last few days, wherein Max has been fined Rs 3 crore while a penalty of Rs 2 crore has been imposed on the bank regarding the deal on concerns over valuations Mumbai:...
IDBI Bank privatisation: LIC to recover its investment by time of sale
LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49 per cent New Delhi: State-owned insurance behemoth LIC is expected to recover...
Tata AIA Life ties up with Medix to offer health services to its policyholders
Tata AIA life has tied-up with Medix to offer healthcare advice to Tata AIA policy holders. Medix has a team of 300 in-house physicians, and a global quality accredited network of over 4,500 world-leading and independent medical specialists. A study by Harvard...
RCap Administrator seeks to reconstruct Reliance Capital into 4 core investment companies
The sole objective of reconstructing RCap CIC into four CICs is to help select bidders of RCap's insurance businesses circumvent the IRDAI guidelines related to the five-year lock-in period Mumbai: In a surprise move, the Reliance Capital (NS:RLCP) (RCap)...
Real estate, a better choice over gold & equities for investment: Report
While gold has primarily remained a favourite investment for Indian households due to its liquidity and investment size flexibility and equities are highly volatile and easily impacted by social, political, and economic upheavals, real estate is hence always...
Fight against inflation will be dogged prolonged RBI article
With inflation remaining above the 6 per cent level, RBI, now, will have to give a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side Mumbai: The fight against inflation will be...
LIC launches non-participating and single premium policy Dhan Varsha
(Lto R) BC Patnaik, MD, Raj Kumar, MD, MR Kumar, chairperson, Siddhatha Mohanty,MD at the launching event of LIC's Dhan Varsha The policy is a close ended plan and will be available for sale upto the end of current financial year -31st March 2023 Mumbai: Life...
Lenders permit Aditya Birla Capital to bid for Reliance Nippon Life
The Committee of Creditors (CoC) has approved Aditya Birla Capital Ltd to bid for RNLIC, sources said. Reliance Nippon Life Insurance is a 51:49 joint venture between Reliance Capital and Nippon Life of Japan Mumbai: Lenders to debt-ridden Reliance Capital have...
ICICI Prudential Life Insurance net profit declines 55 pc to Rs 199 cr in Jul-Sep
The value of new business (VNB), a key measure of profitability, posted strong growth of 25.1 per cent at Rs 1,092 crore in the first half of FY2023, the insurer said. ''On the back of this strong VNB growth and with a favourable premium base for the coming months, we...
HDFC Life announces completion of Exide Life merger
"We are delighted to have completed the entire transaction in a short span of time. This merger has been made possible due to the encouragement, timely approvals and support from our regulator – IRDAI and all other authorities involved in the process'' Mumbai:HDFC...