Tapan Singhel, MD&CEO, Bajaj General Insurance& Chairman,...
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Union Budget 2025:Insurance Reforms Bill with 100% FDI to be tabled soon, says Sitharaman
100% FDI proposal, larger reforms moves along with other Amendments...
Economic Survey urges insurers to address concerns on mis-selling, delayed claims settlements, AI, cybersecurity, and 3rd-party interactions
In the life insurance segment, there is a noticeable shift towards...
LIC to invest Rs 80.67 crore in rights issue of its Nepal joint venture
LIC, which got listed on the bourses in May, will hold its first Annual General Meeting on September 27, 2022, according to stock exchange filing. Mumbai: State-owned LIC will invest Rs 80.67 crore in the proposed rights issue of its joint venture LIC (Nepal) Ltd. The...
Govt replaces BBB with Financial Services Institutions Bureau(FISB) for selecting top management of PSU banks & insurers
FSIB will be a single entity for making recommendations for appointments of executive directors, and non-executive chairmen in PSU banks, CMDs, general managers and directors of public sector insurers, said the DoPT order With setting up of FISB, the selection...
IRDAI sets stiff annual premium targets for life insurers for next 5 yrs, eyes 6.18% penetration by 2027
To grow faster, the insurers need capital and IRDAI is planning to enlarge the basket of instruments through which they can raise capital Life Insurance Corporation has to mobilise almost a total premium Rs 16 lakh crore , HDFC Life Insurance(Rs 2.66 trillion),SBI...
LIC may unveil its new embedded value by July 15
Further to its earlier announcement on May 30th 2022, the corporation has informed that the exercise of determining the IEV as on March 31, 2022, may take some more time to get completed. Once completed and after requisite approvals, the required public disclosures of...
UK aims for quick reform of complex insurer solvency rules, says Sunak
Rishi Sunak, finance minister,UK Britain inherited Solvency II rules from the European Union, and reforming them is seen by the 2.2 trillion pound ($2.70 trillion) insurance industry and government as important for keeping the country's financial sector globally...
Reliance Capital Debt Resolution: Zurich Insurance bids for General Insurance, Cholamandalam for Life Insurance arm
The timeline for bidding Reliance Capital Ltd extended by 90 days -- from June 3 to September 2, 2022. This is the second extension granted by the Committee of Creditors (CoC) for the completion of RCL's resolution process New Delhi: Lenders of debt-ridden Reliance...
IRDAI Chairman calls for a 2-day meet with insurance CEOs on June 30, to discuss further regulatory reforms
Debasish Panda, Chairman, IRDAI The insurers will also discuss with the IRDAI on changing the regulations relating to expenses of the management, commission structure to the intermediaries, offering discount on premium to direct policyholders and the norms relating to...
Irdai mulling to extend testing period under Regulatory Sandbox mechanism to 3 yrs
"Here we now realise that this has to be a continuous process, the period for which they are allowed to test such products in the market is only limited to six months. We are now proposing to expand that period to even up to three years, particularly for life...
Irdai working towards risk-based capital, supervision frameworks: Chairman Panda
Debasish Panda,chairman,Irdai ''Currently, we have traditional method of supervision and we have very recently started embarking on a project of moving towards a risk based supervision which will be enabled by technology. In another word, you can call it 'Suptech'...
HDFC Life declares bonus of Rs2465 crore
15.87 lakh policyholders are eligible for this bonus Vibha Padalkar, MD & CEO, HDFC Life, said, "We are pleased to announce market competitive bonus payouts year after year. It is our way of exceeding the expectations of our policyholders who strongly believe in...