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ICICI Pru Life Insurance gets demand notice of Rs 328.4 cr from I-T Dept
The demand notice served on various counts, including shareholders'...
Exclusive cooperative insurance firm on anvil, to provide coverage to all cooperative societies in country: Amit Shah
Amit Shah, Union Minister of Home Affairs and Co-operation To...
HDFC Life posts Rs 686 crore net income in September quarter
Vibha Padalkar,Managing Director and Chief Executive Officer of HDFC Life said, ''we can easily do away with 100-150 branches from the existing 383 (ours and around 200 of theirs). Some of our own branches will also be shuttered but there won't be any employee...
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...