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LIC’s potential stake in ManipalCigna to boost health insurance market: JP Morgan
LIC is reportedly in the final stages of acquiring a significant...
Hinduja Group’s IIHL takes over Reliance Cap as lenders withdraw NCLAT petition
The Committee of Creditors (CoC) of Reliance Capital has informed...
LIC sees 20 pc decline in death claims in Q1 FY23 as COVID impact ebbs
M R Kumar,Chairman,LIC In the June quarter of the previous fiscal, settlement of death claims was to the tune of Rs 7,111 crore, which for Q1 of this year was Rs 5,743 crore, LIC Chairman M R Kumar said in a post-earnings call with analysts ''So there is quite a...
Munich Re retains its top position, Asian reinsurers lose rankings in AM Best’s 2022 global list
All the top three Asian reinsurers, China Re, Korean Re and GIC Re, have lost their global rankings in 2022. Korean Re, which have been in the 10th place in 2020, fell off to 13th this year owing to currency position. Despite premium growth of around 7 per cent, China...
Canara HSBC Life Insurance launches Customer Mobile App
Canara HSBC Life Insurance launched customer mobile App ‘Canara HSBC Life Insurance App’ available on android, iOS devices and web portal on the 75th Independence Day of India. Anuj Mathur, MD & CEO, Canara HSBC Life Insurance said, “The launch of the App will...
LIC launches special campaign to revive lapsed policies
All policies except ULIP (Unit linked Insurance Plan) can be revived within 5 years from date of the first unpaid premium subject to policy conditions, LIC said in a statement Mumbai: Insurance behemoth Life Insurance Corporation of India (LIC) on Tuesday announced...
LIC keen on entering mediclaim segment, awaiting regulatory clarity: Chairman
M R Kumar,Chairman, LIC Recently, the new Irdai Chairman Debasish Panda had said it was time life insurers re-entered the health vertical as he had given a mandate to the industry to ensure that every citizen has a health insurance policy by 2030. However, Panda later...
LIC net profit rises multifold to Rs 682.88 crore in Q1FY23
M.R. Kumar, chairperson, LIC The corporation's VNB margins for the period Q1FY23 are 13.6% (Net). The Gross VNB of the Individual business was Rs 1277 crore and for group business was Rs 583 crore for the reporting quarter The gross VNB margins for the Individual and...
LIC sells 2% of its shareholding in M&M
After the sale, the LIC holding in the passenger cars and utility vehicles company decreased from 8.430 per cent to 6.421 per cent, it said. Mumbai: Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its shareholding in automaker Mahindra...
Aviva India appoints Sumithasri Eranti Venkataramagupta as chairperson
New Delhi: Aviva India announced the appointment of Sumithasri Eranti Venkataramagupta as chairperson of Aviva Life Insurance Company India. She succeeds Mohit Burman, who served as the Chairperson for over 14 years and will continue to be a non-executive Director on...
GIC Re back in black, posts a net profit of Rs 690 crore in Q1FY2023
Devesh Srivastava, CMD, GIC Re ``We are targeting a Combined Ratio of 100 per cent and work is on progress to achieve it in the medium term. We are now purely looking for profitable business and the market is aware of our focus. Topline growth will happen but it has...
Life insurers’ new premium income jumps 91pc to Rs 39,079cr in July
The country's largest life insurer LIC registered a more than twofold jump in new business premium income to Rs 29,116.68 crore during the month compared to Rs 12,030.93 crore in the year-ago month, the Insurance Regulatory and Development Authority of India (Irdai)...