The company has received a communication/demand order on Monday...
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With REL ownership, Burmans have now stakes in all 3 segments of Indian insurance industry
Burman Group, through its Dabur Invest Corporation, has already...
100 pc FDI to help Indian insurance sector reach $222 billion by 2026
“However, it is crucial to understand the complexities of...
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...
ICICI Pru Life declares highest ever annual bonus of Rs 969 cr for FY22
N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance The annual bonus of Rs 968.8 crore for FY2022 is the highest ever declared by the company since inception, N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance, said....