Out of five existing managing directors, three including MD and CEO...
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Govt moving ahead with IDBI Bank disinvestment plan in current fiscal: DIPAM Secy
Arunish Chawla,Secretary ,Department of Investment and Public Asset...
Life insurance: 78% of urban Indians own one or more products, Axis Max Life Insurance survey
Prashant Tripathy, CEO and managing director, Axis Max Life...
LIC shares rally over 9 pc as Q2 net zooms multifold
A 27 per cent jump in premium income and massive gains from changes in its accounting policy along with investment income helped the national insurer LIC on Friday report a multi-fold jump in net income at Rs 15,952 crore in the July-September quarter, from Rs 1,434...
LIC net profit jumps 11fold to Rs15,952 crore in Q2
LIC's net premium income rose more than 26 per cent to Rs 1.32 trillion , the company said in an exchange filing Mumbai: A 27 per cent jump in premium income and massive gains from changes in its accounting policy along with investment income helped national insurer...
Irdai proposes allowing insurers to invest in unlisted companies
IRDAI has sent a proposal to the government to allow buying a more than 10% stake in unlisted firms by insurers, using over 10% of the monies lying in their shareholders fund, policyholders fund, or funds maintained by a reinsurance company, according to the two...
Insurers take up `GST evasion’ issue with Govt, Revenue Secy Bajaj assures fair investigation and no coercive actions
Tarun Bajaj, revenue secretary, ministry of finance The government has said investigations by the Directorate General of GST Intelligence, Mumbai Zonal Unit have revealed that input tax credit of Rs 824 crore has been availed by 16 insurers, out of which an amount of...
LIC buys additional stake in Voltas for Rs 635 crore
LIC said it acquired Voltas' shares worth Rs 634.50 crore through open market transactions during the period from August 10 to November 4, 2022 Mumbai: Life Insurance Corporation of India (LIC) has increased its shareholding in Voltas by buying an additional 2 per...
Life insurers register 15 pc rise in new biz premium at Rs 24,916 cr in Oct
LIC recorded 18 per cent rise in its new business premium at Rs 15,920.13 crore during the month, as against Rs 13,500.78 crore a year ago The rest 23 players in the private sector witnessed their combined new business premium increasing by 11 per cent to Rs 8,996.45...
Reliance Capital lenders to meet on today to decide on Challenge Mechanism
Some bidders have raised concerns with the Administrator about the introduction of this new clause at this late stage of the bidding process, sources said, adding there was no mention of this mechanism in the Request for Resolution Plan (RFRP) document These bidders...
Joshi takes over as new DFS Secy
Senior bureaucrat Vivek Joshi on Tuesday took charge as the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance. Joshi replaced Sanjay Malhotra who is slated to take over as Revenue Secretary.rior to this appointment, Joshi, a 1989...
LIC shareholding in Tata Motors crosses 5 pc
''Holding in the company has crossed 5 per cent on October 31, 2022,'' LIC said. The acquisition of shares were done during the period from December 3, 2021 to October 31, 2022 at an average cost of Rs 455.69. Mumbai: Shareholding by Life Insurance Corporation (LIC)...
Global investments in InsurTechs fall 2.5% to $2.35 billion in Q2 2022
In this most recent quarter, 53.5% of all disclosed APAC funding went into India-based InsurTechs, which raised an impressive $210.76 million. In terms of all deals ever completed, InsurTechs from 18 APAC countries have raised $7.77 billion through 447 deals , which...