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Economic Survey urges insurers to address concerns on mis-selling, delayed claims settlements, AI, cybersecurity, and 3rd-party interactions
In the life insurance segment, there is a noticeable shift towards...
Axis Max Life Insurance launches new cover
Axis Max Life Insurance has announced the launch of Axis Max Life...
GIC Pte, ADIA and Norway Sovereign Wealth Fund to be anchor investors in LIC IPO
The LIC IPO aims to raise as much as Rs 210 billion ($2.7 billion) by pricing shares between 902 rupees to Rs 949 rupees each. Norges Bank Investment Management, GIC Pte and Abu Dhabi Investment Authority will be among the anchor names due to be announced Monday, the...
SBI Life Q4 net profit rises 26% to Rs 672 cr
SBI Life said it registered a growth of 39 per cent in the value of new business (VoNB) to Rs 3,700 crore in FY22 Mumbai: SBI Life Insurance (SBI Life) on Thursday reported a 26.3 per cent rise in its net profit at Rs 672 crore for quarter ended March 2022. The life...
Bajaj Life insurance net plunges 80 % to Rs 48 crore in Q4FY2021-22
The life insurer's new business value (NBV), which is the metric used to measure profitability of life insurance businesses, increased by 72 per cent to 621 crore in FY22 over Rs 361 crore in FY21 Mumbai: Bajaj Allianz Life's 'net profit in Q4 FY22 plunged 80 per cent...
Left opposes LIC IPO, alleges ‘scam’, ‘sell off’
Communist Party of India (CPI) general secretary D Raja said it was a “matter of regret” that the BJP-led NDA government is selling off all national assets through monetisation policy and privatisation of public sector units. He said it was a ''tragedy'' that those...
Britain proposes post-Brexit changes to insurer capital rules
Britain inherited the so-called Solvency II rules from the European Union, and reforming them is seen by industry and government as a key reform after Brexit to keep the financial sector globally competitive London: Britain launched on Thursday a public consultation...
SC says LIC bound by Constitution, directs fresh verification of claims of temporary workers
A bench of Justices DY Chandrachud, Surya Kant, and Vikram Nath made the remarks while deciding a four-decades-old dispute of temporary/badli/ part-time workers who were engaged by the LIC to discharge its functions on a batch of pleas for their claims of absorption...
Bruce de Broize appointed as MD & CEO of Future Generali India Life Insurance
Bruce de Broize, MD and CEO, Future Generali India Life Insurance The appointment follows Generali’s move to consolidate its position in FGILI by completing the transaction to become the majority stakeholder Mumbai: Generali Asia on Wednesday has announced the...
Govt says LIC share sale right-sized to make it sail through
(L to R) MR Kumar, chairman, LIC and Tuhin Kanta Pandey, secretary, Dipam at a press conference in Mumbai to announce LIC IPO “The valuation process itself is essentially a discovery process. Because you don't know what we are comparing it with? Is LIC equal to HDFC...
Govt sets LIC IPO price band at Rs 902-949, Rs 60 discount for policyholders
The issue is set to open on May 2 for anchor investors and will open for subscription on May 4 and close on May 9 Retail investors and employees of LIC are also likely get a discount of Rs 45 on subscribing to the shares of LIC New Delhi: The government has set a...
HDFC Life’s net declines 11% on Covid claims in FY2021-22, to raise capital
Vibha Padalkar, MD & CEO, HDFC Life Insurance With a total premium of almost Rs 46,000 crore up 19 per cent y-o-y, over Rs 38,583 crore recorded in year-ago period, the life insurer’s asset under management (AUM) crossed Rs 2 trillion mark, clocking 17 per cent...