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FinMin asks banks, insurance firms to expedite public grievances resolution
M Nagaraju, Secretary, Department of Financial services At the...
SBI Life picks up 10 pc stake in Bima Sugam India Federation for Rs 6.6 cr
Bima Sugam India Federation, an unlisted company, incorporated on...
India court blocks Future Enterprises from selling stake in Generali JV
Future Enterprises said in January that it had decided to sell its 25% stake in Future Generali India Insurance Company to Generali Mumbai: A Mumbai city civil court has blocked Future Enterprises from selling its stake in its general insurance joint venture business...
Government allows up to 20 per cent FDI in LIC under automatic route
Under current rules, foreign investment is not allowed in the LIC, governed by the special parliament act, while 74% foreign direct investment is allowed in other private insurance companies NEW DELHI: India's cabinet approved on Saturday a policy amendment allowing...
Cabinet likely to consider proposal for FDI in IPO-bound LIC on Saturday
As per Sebi rules, both FPI and FDI are permitted under public offer. However, since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation New Delhi: The Union...
Insurer AIA Group sells Australian savings and investments business
AIA did not disclose a deal value for the sale, but said the business holds about A$8 billion ($5.77 billion) in funds under administration. The Australian savings and investment business, which offers superannuation and retirement products, was acquired by AIA...
India sees strong financial security, tepid growth in life insurance ownership and awareness: Max Life Survey
Term insurance witnessed an uptake in the last two years, with ownership rising to a significant 43% from 39% last year. The survey also reflects an increased ownership of other life-insurance products amongst urban Indians such as savings and market-linked plans. New...
Lot of buzz, interest in market for LIC IPO: Sitharaman
Finance Minister Nirmala Sitharaman ''Now that DRHP (for LIC IPO) is out, there is a buzz and a lot of interest in the market. I am glad the way in which it is crafted where shareholders also have a role to play. The way it has been crafted has created a lot of...
Potential investors in India LIC’s giant IPO fret over govt control of insurer -sources
How effectively LIC and its investment bankers are able to address the investor concerns will help in determining the insurer's valuation in the float, and consequently the state of finances of the Indian government which is banking on proceeds from the IPO to plug an...
Insurtech player RenewBuy acquires Artivatic.AI for Rs 75cr
The acquisition will allow RenewBuy to extend its tech solutions across the entire value chain – from sales, to underwriting and claim solutions ''We pioneered the digital agent distribution model, by putting an app in the hands of an agent. This led to a new...
AIA Launches “AIA One Billion” to engage a billion people to live healthier, longer, better lives by 2030
The pandemic has increased people's awareness of the importance of health and wellness. Yet populations in Asia are seeing an increase in lifestyle-related diseases, accounting for more than 70 per cent of all deaths SINGAPORE: AIA Group Limited (AIA) today...
SBI Life to reclassify BNP Paribas Cardif as non-promoter
As per Sebi guidelines, a promoter or promoter group seeking reclassification should not hold more than 10 per cent of the voting rights in the company. SBI Life shares closed at Rs 1,129.15 apiece on BSE, down 1.86 per cent from the previous close Mumbai: SBI Life...