On Tuesday, senior officials Ministry of Finance, Insurance...
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LIC receives Rs 57.2 crore GST demand notice
The company has received a communication/demand order on Monday...
With REL ownership, Burmans have now stakes in all 3 segments of Indian insurance industry
Burman Group, through its Dabur Invest Corporation, has already...
LIC’s Rs 21k IPO sees strong demand from anchor investors
Norwegian wealth fund Norges Bank Investment Management and Singapore sovereign wealth fund GIC have subscribed to the anchor book, the source said Alongside other global funds, domestic mutual fund houses such as HDFC mutual fund, SBI, ICICI and Kotak have also come...
India’s Covid positivity rate past 1% again after 2 months
The number of active cases rose by 408 in a 24-hour span to reach 19,500, the data updated at 8 am showed New Delhi: India's Covid case positivity rate went past one per cent again after over two months as the country witnessed a single-day rise of 3,157 infections...
LIC IPO gets larger bids from anchor investors
Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors Mumbai: Life Insurance of Corporation of India’s initial public offering gets bids from large investors for twice the size of the anchor book, according to people with the knowledge...
LIC keen to retain some stake in IDBI Bank for bancassurance gains: Chairman
MR Kumar , chairman,, LIC “Strictly speaking, we are below the threshold limit of management control but then, what government really means is that management control is to be given in such a way that a private entity picks up and runs the bank, and government in the...
Generali CEO Donnet survives but faces rebel pressure
Philippe Donnet, CEO,Generali, “The unambiguous choice of a majority of shareholders is proof of the confidence they have in our management team and strategic plan,” said Donnet, who enjoyed the backing of leading investor Mediobanca and Generali’s institutional...
FinMin, Sebi to take call on relaxation in LIC meeting minimum public holding norm: DIPAM Secy
Under the Sebi's minimum public shareholding norms, listed entities with a valuation of over one lakh crore need to have at least 25 per cent public shareholding within 5 years of listing. The government had last year exempted public sector entities from this norm New...
LIC IPO price attractive; lot of growth potential: Chairman Kumar
More than the embedded value one should look at the value for new business (VNB) going forward, and it should reach 12-13 in the future, LIC Chairman MR Kumar said VNB margin is what investors would be looking at and it is 9 for LIC at present, he said. New Delhi: LIC...
Record global InsurTech funding of $15.8 billion in 2021:Report
By the end of 2021, an enormous $41.65 billion had been invested globally into InsurTechs across 2,249 deals in 63 countries. It included 99 mega-round deals, which accounted for $21.88 billion of the total. Therefore, more than half of all the investment (52%)...
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...