The incurred claims ratio for private sector general insurers,...
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India’s insurance penetration falls further from 4% to 3.7% in FY 24
According to the latest IRDAI annual report for Fy 23-24, released...
SEBI takes strict action in front running case, bars 9 entities, seizes over Rs 21 crore
The SEBI had investigated some suspicious front-running trades...
Prudential’s next group CEO to be based in Asia
Shriti Vadera, Chair of Prudential, said "Given Prudential's focus on the growth markets of Asia and Africa, the board has decided with this managed transition of the leadership structure, that the roles of the group CEO and the group CFO will be based in Asia, where...
LIC IPO: Govt files draft papers with Sebi, to sell 5% for around Rs 63,000 crore
Although the DRHP does not disclose the market valuation of LIC, as per industry standards it would about 3 times the embedded value or around Rs 16 lakh crore. The government will sell over 31 crore equity shares of LIC LIC's embedded value has been pegged at about...
LIC:Govt eyes to offload 5% stake sale via mega IPO
With 5 per cent, market experts peg the size of the IPO to be at around Rs 40,000 crore.The embedded value of the company is estimated to be about Rs 5.4 trillion ($72 billion), . New Delhi: India is considering selling about 5 per cent of the shares it holds in a...
Sanjay Malhotra appointed as DFS Secy
Malhotra's s appointment as the Financial Services Secretary has taken effect immediately as the post is vacant after Debasis Panda,retired from the post on 31st Jan. The government had given Rajesh Verma, secretary, ministry of corporate affairs the additional charge...
Life insurers’ new premium income up 3 pc to Rs 21,957 cr in January
The country's largest and the only state-owned insurer LIC registered a decline of 1.58 per cent in new premium income at Rs 12,936.28 crore in January 2022, as against Rs 13,143.64 crore in the same month a year ago The new business premium income of all the life...
India tops global insurance IPO chart in Q4 2021:S&P
Global insurance and insurtech companies raised about $6.64 billion from IPOs in 2021, the largest amount in at least five years India's PB Fintech's $579.2 million IPO, topped the list globally.. Star Health and Allied Insurance Co. Ltd. had the second-largest...
IPO-bound LIC offers highest ROE of 82%: CRISIL
At 64.1 per cent or with a Gross Written Premium (GWP) of USD 56.405 billion, LIC’s market share is unparalleled globally, and no other life insurer is enjoying such a high market share, a Crisil report said Mumbai: The IPO-bound national insurer Life Insurance...
IPO-bound LIC ropes in 6 independent directors on its board
LIC appointed former financial services secretary Anjuly Chib Duggal, ex-Sebi member G Mahalingam, former SBI Life managing director Sanjeev Nautiyal, chartered accountants- MP Vijay Kumar, Raj Kamal, and V S Parthasarathy on its board With the appointment, the total...
LIC offers opportunity for policyholders to revive lapsed policies
For conventional and health policies with a total receivable premium of up to Rs one lakh, the insurer is offering a 20 per cent concession in late fee, with a maximum limit of Rs 2,000. Similarly, for a premium amount of above Rs 3 lakh, concession offered is 30 per...
LIC partners with Policybazaar to distribute its products
Life Insurance Corporation on Thursday said it was roping in insurance aggregator Policybazaar.com to distribute its products. "LIC, the country’s pioneer in life insurance and Policybazaar.com have joined hands to offer a wide range of term and investment products to...