Sameer Bansal, MD & CEO, PNB MetLife, said that while India is...
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MFs, insurers and retail investors buy $8 billion of Indian equities in Jan as FIIs sell
A greater participation of mutual funds, insurance firms and retail...
Indian economy to grow 7% in FY25, robust expansion to drive insurance premium growth, says Moody’s
``India's private sector insurers continue to reinforce their...
Deadline to submit Reliance Capital resolution plans likely to be extended
According to sources, as of now, there are only three bidders who are actively engaged with the CoC for RCap's resolution. These are Piramal, Yes Bank and IndusInd Bank Mumbai: Lenders to Reliance Capital may extend the last date for submission of bids for acquiring...
Upgrading Indian Insurance Regulatory Framework
After 20 years of liberalisation, stage is set for larger reforms to leapfrog the Indian industry to the next level By C.L. Baradhwaj The Indian Insurance industry has crossed 20 years after privatisation. As per IRDAI’s Annual Report, insurance penetration for the...
IRDAI wants commission costs to be displayed on policy papers, to streamline Expense of Management structure for insurers
Rakesh Joshi, member (Finance and Investment), IRDAI Rakesh Joshi, member (Finance and Investment),IRDAI, had met chief financial officers (CFOs) of insurance companies and outlined IRDA's agenda of laying out a clear cut road map on expenses of management so that...
LIC shares decline for 5th day; mcap falls below Rs 5 lakh cr-mark
LIC had fixed the issue price of its shares at Rs 949 apiece after a successful IPO, which was over subscribed nearly 3-times when it closed on May 9 Mumbai: Shares of Life Insurance Corporation of India (LIC) continued to fall for the fifth day running on Monday and...
Govt raises premium for flagship insurance schemes PMJJBY, PMSBY
The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually The annual premium for PMSBY has been hiked from Rs 12 to Rs 20, an official statement said New Delhi: The government on Tuesday raised...
LIC posts a record profit of Rs 42,000 from equity trading in FY 2021-22, to focus more on non-par policy
Raj Kumar.MD, LIC, explained that the exercise to determine Indian embedded value as on March 31, 2022 is under progress and is expected to be completed by June 30, 2022. As soon as the exercise is completed, LIC shall make the required public disclosures of the same...
IRDAI approves 8 new insurance players, final licenses soon: Chairman
`Debasish Panda, chiarman, IRDAI The industry has now 56 primary players and 12 foreign reinsurers ``We would like to have many more players including micro insurers, insurtechs, niche and differentiated players who can operate with a much smaller capital and...
LIC net profit falls 18% to Rs 2,409 crore in Q4 FY2021-22,declares 15% dividend
The corporations' first year premium increased 32.65 per cent to Rs 14,663.19 crore and its renewal premium increased by 5.37 per cent to Rs 71,472.74.05 crore in the reporting quarter NEW DELHI: Life Insurance Corporation (LIC) of India has seen its net profits...
LIC launches `Bima Ratna’, a non linked, non-participating, individual, savings life insurance plan
The plan is available for a term of 15, 20 and 25 years. premium paying term is 4 years less than policy term. plan provides 25% of basic sum assured as survival benefit at the end of each year for the last two years of policy term (T-2 & T-1) , provided the...
III and Thailand Insurance Institute sign MOU for nurturing professionals
Both the institutions look forward to working together in the area of risk management and insurance learning, development of course material, certification/ accreditation through conduct of examinations and spreading insurance awareness through capacity building as...