Sitharaman visited IFSC at GIFT City in Gandhinagar on Thursday and...
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Axis Max Life’s IPQ 7.0: Persistent protection gap in rural India
-Rural India’s Protection Quotient rises to 16, up from 12 in IPQ...
LIC ranks as 4th most valuable Indian brand, ahead of Reliance Industries and SBI, says Brand Finance India report
Top 10 Indian brands post strong double-digit growth led by Tata,...
India Protection Gap: Term insurance ownership remains stagnant
The following findings reveal insights that highlight urban India’s shift in attitude and approach towards financial preparedness as shown in a survey-India Protection Quotient 5.0,fifth edition(1st edition of the survey was done in 2019) conducted by Max Life...
Post Covid, insurance awareness rises : Max Life’s survey
Prashant Tripathy, managing director and CEO, Max Life Insurance India has begun recognizing the real value of term insurance, ownership remains an area of challenge that the life insurance industry will need to work hard to address New Delhi: A survey, by Max Life...
Budget Wishlist: Insurers expect for tax concessions to push industry’s growth
Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers The industry players are also...
SBI Life Insurance Q3 profit falls over 16% to Rs 304 crore
The asset under management (AUM) grew by 17 per cent from Rs 2,56,870 crore as on December 31, 2021 to Rs 2,99,990 crore as on December 31, 2022 with debt-equity mix of 71:29, it said Mumbai: Private sector SBI Life Insurance on Saturday reported more than 16 per cent...
Indian insurance industry needs Rs 50k annual investment for doubling its growth in 5 yrs
Debasish Panda,chairman, IRDAI "If we have to double the penetration, every year there is a need to infuse an additional Rs 50,000 crore. While half of these funds need to be generated by the insurers internally, the other half has to mobilised from markets and...
NCLT directs lenders to maintain status quo on Reliance Capital matter
Torrent Investments had filed a plea seeking the tribunal to quash the lenders' plans to hold a fresh auction for the takeover of the Anil Ambani-promoted Reliance Capital. Torrent Investments was the highest bidder offering Rs 8,640 crore Mumbai: The National Company...
HDFC Life Q3FY2022-23 profit rises by 15 pc to Rs 315 crore
Vibha Padalkar, MD & CEO said,``In Q3 fy2022-23, we grew by 17% in terms of Individual Weighted received premium( WRP). On a year to date (YTD) basis, we grew by 13% leading to a market share of 15.8% amongst private insurers. Our distribution network has been...
Claims and reinsurance costs impacting on Indian insurers’ profitability
"India's privately-owned insurers, where foreign shareholdings are concentrated, have cut their exposure to high risk assets and have been early adopters of actuarial-led reserve management and risk-based capital management. This has and will continue to help private...
Budget-2023-24:Centre may plan rate changes in new income tax structure
While the new optional income tax scheme - announced in 2020 to make tax compliance simpler - offers lower headline taxation rates on annual income, experts say it is unattractive to many as it does not allow exemptions on housing rentals and insurance among other...
Green Bonds purchase by insurers to be treated as infrastructure investments: IRDAI
The regulator, in a circular dated Jan. 13, said the move was made with the objective of "de-concentration and diversification" of insurers' infrastructure portfolios as well as "from the perspective of participation in environmental, social and governance (ESG)...