IDBI Bank on Monday said LIC Nominee Director Raj Kumar has ceased...
Category:
Life
Latest
Govt clears appointment of Patnaik and Pant as new LIC MDs, Interview for a new CEO soon
FSIB will conduct interview soon of all MDs for selecting a new MD...
Apollo 24|7 forays into online insurance distribution, plans to launch products from 12 insurers
It has secured regulatory approval to operate as a corporate agent...
Govt proposes scrapping of minimum capital for insurers
The department of financial services (DFS) has said these amendments would enhance the financial security of policyholders, promote their interests, and improve their returns New Delhi: Revamping the existing regulatory frame work, the finance ministry has proposed...
Independent valuers give Rs 13,000 crore liquidation value for Reliance Capital
According to Duff and Phelps' valuation report, the liquidation value of Reliance General Insurance is Rs 7,000 crore, and Reliance Life Insurance is Rs 4,000 crore. On the other hand, RBSA has given a liquidation value of Rs 7,500 crore and Rs 4,300 crore for...
Govt gears up for amending Insurance Acts to overhaul sector, may go through in Budget Session
On Wednesday, the department of financial services, through an office memorandum has asked for public comments on the proposed amendments by December 15 The proposed amendments primarily focus on enhancing the financial security of the policy holders, promoting policy...
COC rejects all bids for Reliance Capital, decides liquidation: sources
The option 1 bidders are Hinduja, Torrent, Oaktree, Cosmea Financial and Piramal consortium, and UAVRCL. Out of these five bidders, UVARCL has bid on a fee basis, which means that it has not submitted any resolution plan for RCAP. It will further sell RCAP assets and...
SCOR completes a £1.7 billion longevity transaction with Balfour Beatty Pension Trust
Frieder Knüpling, SCOR, CEO Life & Health, said: “This transaction underlines SCOR’s strong appetite to deliver longevity solutions to our clients. Recent world events have brought life and health risks into sharp focus and now, more than ever, we are seeing...
YES BANK partners with Turtlefin
Mumbai: TurtleFin, an insurtech platform, has partnered with YES BANK, to sell insurance products to bank's customer through its technology platform – EasyNsure.The platform is already live with over 40 life and general insurance plans being readily available for...
India’s GIFT City aims to take On financial hubs in Singapore and Dubai
Modi’s government has offered an array of incentives, including a 100% tax holiday for a decade to businesses that set up within the hub’s International Financial Services Center, or IFSC. Rules are being tweaked to encourage Indian companies to lease ships and...
Max Fin Services gets Irdai nod to acquire 5.17% stake of Mitsui Sumitomo in Max Life
The transaction entails the purchase of 9.91 crore shares of Max Life at Rs 85 per share by MFSL, the parent company of Max Life Post completion of MSI balance stake buyout of 5.17 per cent, MFSL's shareholding in Max Life will increase to 87 per cent New Delhi: Max...
Battle for Reliance Nippon Life Insurance: Nippon top brass likely to visit India
To counter the Aditya Birla bid, Nippon Life is also preparing to bid for Reliance Capital's 51 per cent stake in RNLIC in partnership with an Indian company, as Indian regulations restrict the holding of foreign companies in the insurance sector at 74 per cent...
IRDAI eases norms for PEs to invest in insurance cos, Corporate agents can tie up with 9 insurers, Kshema General Insurance receives license, 19 pending
Corporate agents can tie up with 9 insurers (earlier 3 insurers) and Insurance Marketing Forms (IMF) can tie up with 6 insurers (earlier 2 insurers) in each line of business of life, general and health for distribution of their insurance products. The area of...