Pankaj Chaudhary,Minister of State for Finance M Nagaraju,...
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Life
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Insurance nominations can’t override personal succession laws: Karnataka HC
Justice Anant Ramanath Hegde ruled that a nominee can receive the...
IRDAI issues norms allowing insurers to use derivatives for hedging their equity portfolios
In line with these guidelines, insurers will be able to buy hedges...
Max Financial Q4 profit doubles to Rs 144 cr
Max Life’s assets under management (AUM) were at Rs 1,07,510 crore as on March 31, 2022, a rise of 19 per cent over the previous year Max Financial Services Ltd on Tuesday reported a two-fold jump in consolidated net profit at Rs 144 crore for the last quarter of...
LIC leads life insurer’s new business premium growth of 84% in April
The largest insurer, state-owned LIC's first year premium or new business premium more than doubled (at 141 per cent rise) to ₹ 11,716 crore as against ₹ 4,856.76 crore in April 2021, the Insurance Regulatory and Development Authority of India (IRDAI) said LIC...
LIC IPO: Grey market premium falls by 90% ahead of listing
In the unofficial market, shares of the insurance major exchanged hands at a minuscule premium of Rs 8-10 per share over the issue price, which is 90 per cent below the premium of Rs 100-105 per share it commanded a week earlier Mumbai: As the much-awaited initial...
Prudential makes insurance more accessible by broadening the concept of family
Lilian Ng, Chief Executive, Insurance, Prudential Prudential's customers in some Asian markets can now nominate a wider range of family members who are financially dependent on them as a beneficiary in a life insurance policy. Additionally, coverage can also be...
Jan Suraksha schemes bring insurance, pension within reach of common man: FM
Finance Minister Nirmala Sitharaman Under PMJJBY, a cumulative number of 12.76 crore persons have enrolled since inception for life cover, and families of 5,76,121 persons have received claims for Rs 11,522 crore under the scheme. The scheme has proved extremely...
LIC IPO subscribed nearly 3 times; share allocation on May 12
Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received, according to data posted on stock exchanges at 7 pm. LIC had fixed the price band at Rs 902-949 per equity share Bidders in LIC IPO will be allocated shares on May 12, and the insurance behemoth...
Investment banks forgo bumper fees for league rank in mega LIC IPO
The 10 advisers who manage the initial public offering They will receive around Rs 10 million ($129,000) each for their role in the deal, a fraction of what they would normally pocket for a deal of this size Mumbai: investment banks advising on the initial public...
LIC IPO: QIB portion fully subscribed on last day, FIIs steer clear
Foreign institutional investors have on the whole steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the global market backdrop. The non-institutional investors' portion was subscribed 1.38 times. Retail individual investors...
IBA and 2 Insurance Councils want an IT vendor for setting up a single repositary for 35 crore Jan Suraksha schemes
`The existing data of Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana of approximately more than 35 crore customers since the start of the schemes(2015) need to be migrated from the individual/banks and insurers to the repository,’’...
LIC IPO subscribed 1.79 times on Day 5; offer closes on Monday
The Qualified Institutional Buyer (QIB) category is yet to be fully subscribed. Bids were received for 0.67 per cent of the shares earmarked for the segment, showing a poor response. Mumbai: Life Insurance Corporation's IPO, the country's biggest public offer, was...