The company has received a communication/demand order on Monday...
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With REL ownership, Burmans have now stakes in all 3 segments of Indian insurance industry
Burman Group, through its Dabur Invest Corporation, has already...
100 pc FDI to help Indian insurance sector reach $222 billion by 2026
“However, it is crucial to understand the complexities of...
AIG unit Corebridge raises $1.68 bln in year’s largest IPO
AIG said it sold 80 million Corebridge shares at $21 per share, which was at the lower end of their indicated target range of $21 to $24 per share The IPO values Corebridge at $13.6 billion. All proceeds of the IPO will go to AIG and the new company is not raising new...
Reliance Cap suitors seek extension of up to 4 months for submission of binding bids
New Delhi: Suitors for debt-ridden Reliance Capital Limited (RCL) have sought extension of up to 4 months for submission of binding bids as part of its resolution process. US-based asset management fund Advent has sought extension by 16 weeks, while Piramal Finance...
FinMin mulls changes in insurance laws to boost penetration: Report
New Delhi: The finance ministry is contemplating changes in insurance laws, including reduction in minimum capital requirement, with a view to increasing the insurance penetration in the country. Insurance penetration in India increased from 3.76 per cent in 2019-20...
Tata AIA Life Insurance expands presence in Dubai
The rep office will help Tata AIA assess the needs of the Indian diaspora in the UAE Mumbai: Tata AIA Life Insurance (Tata AIA), today announced the opening of its first representative office in Dubai, UAE. The rep office will help Tata AIA assess the needs of the...
Hiring activity remains stable in Aug; insurance sector witnesses steep growth: Report
The insurance sector, which posted an annual growth in hiring for the seventh time in a row, witnessed a steep year-on-year jump of 87 per cent. Hiring activity remained stable in August with a 6 per cent year-on-year growth, driven by the insurance sector, according...
IRDA allows agents, brokers and other intermediaries to be on boards of insurance companies
The proposed director should not not be working in the capacity of the chief insurance executive / specified person or any other officer responsible for soliciting insurance business for or on behalf of the insurance agent, intermediary or insurance intermediary while...
Bima Lokpal settles 40,527 complaints in FY22
Sounding alert,Sudhir Krishna, Insurance Ombudsman, said consumers should not fall prey to unrealistic returns or offers like interest-free loan, revival or portal of policy, bonus or commission, New Delhi: The Insurance Ombudsmen offices across the country settled a...
India court familial relationship ruling poses challenge to Singapore marriage definition: Minister
At the recent National Day Rally, Prime Minister Lee Hsien Loong had announced that Section 377A would be repealed, but also said the government would amend the Constitution to safeguard the definition of marriage from legal challenges The Indian Supreme Court's...
LIC’s first-ever AGM on 27th Sept, to sharpen focus on Bancassurance & non-par business
. ''We intend to increase our market share of non-par business as well as diversify the channel mix while ensuring that our agents stay as the main distribution pillars of our products,'' LIC chairman M R Kumar told shareholders in company's annual report for FY22....
Ageas Federal Life deploys Munich Re Automation Solutions for cloud-based underwriting shift
Alby van Wyk, Chief Commercial Officer at Munich Re Automation Solutions said: “With the Indian life insurance industry speeding up to digitalisation, through the adoption of SPARK, Ageas Federal Life is demonstrating its commitment to, not just a seamless customer...