Allianz, which had invested just Rs 174 crore in both the JVs way...
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Religare Enterprises seeks governance review, funding from Burman family
The objective is to review past operating practices, suggest...
IDRAI asks insurers to keep their offices opened during Mar 29-31 including Saturday & Sunday
The insurers have to give adequate publicity to the special...
LIC to focus on non-par products, launches non-participatory, savings product Dhan Sanchay
(L to R) MR Kumar, chairman, Siddhartha Mohanty, managing director, Bishnu Patanaik,MD at the LIC's launching ceremony of Dhan Sanchay Dhan Sanchay provides guaranteed income benefit(GIB) during the payout period from the date of maturity, and guaranteed terminal...
Sensex sinks 1404 points on global selloff; investors lose Rs 6 lakh crore, LIC shares fall further
Falling for the tenth straight session on Monday, shares of Life Insurance Corporation (LIC) of India dropped 4 per cent to hit an all-time low of Rs 681.70 on BSE while its market capitalisation (m-cap) slipped to Rs 4,34,052 crore. The selloff has led to erosion of...
IRDAI’s new norms to prompt insurers to launch innovative policies swiftly: Experts
The relaxed norms for launching insurance products, experts feel, will also make insurers more responsible as they would be held accountable for the products which are offered in the marketplace without prior approval of IRDAI Mumbai; IRDAI's decision to permit 'use...
Govt ‘concerned’ about dip in LIC share price; calls it temporary blip
Tuhin Kanta Pandey, secretary,DIPAM ''We are very concerned about the temporary blip in LIC share price. People will take time to understand (fundamentals of) LIC. LIC management will look into all these aspects and will raise the shareholders' value,'' DIPAM...
Life insurers can launch products without prior nod, says Irdai
The move will enable life insurers to launch most of the products (except individual savings, individual pensions and annuity) in a timely manner according to the dynamic needs of the market The board will have to also constitute a Product Management Committee (PMC),...
IRDA forms panels to implement RBC, IFRS, and Insurtech strategies
In order to take forward the process of setting out reforms for increasing insurance penetration and facilitating sustainable growth of the industry and to explore the emerging trends and opportunities such as technology based core processes, Insutech, Risk...
Munich Re elevates Akash Gupta as MD and head of Southeast Asia life and health
With effective from July 1, Munich Re has elevated Akash Gupta as managing director and head, Southeast Asia life and health. Gupta is currently Munich Re’s head of life and health Asia valuation and planning. Based in Singapore, Gupta reports to David Hughes, CEO,...
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...