As many as 3,72,282 policyholders did not claim maturity benefits...
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PMJJBY life insurance: 21cr enrolment, 860,575 claims worth Rs 17,211.50 settled
The Pradhan Mantri Suraksha Bima Yojana(PMSBY) has seen a...
Hinduja Group likely to complete RCap acquisition by Jan-End
"Most of the approvals and procedures related to the resolution...
Bajaj Finserv consolidated profit after tax slips 2.63% to Rs 1,256 cr in Q3
Bajaj Allianz General Insurance Company's profit after tax declined to Rs 304 crore in the third quarter of this fiscal compared to Rs 330 crore in Q3 FY21 Mumbai: Diversified financial services firm Bajaj Finserv Ltd (BFS), which is having two insurance subsidiaries,...
IRDAI effects reshuffle among sr officials
Randip Singh Jagpal, who has been a CGM in one of the most important portfolio- Department of Intermediaries, for many years ,has been shifted to Consumer Affairs Department. AR Nithiyananthan, CGM who was in charge Information Technology(IT) will now be heading...
ICICI Pru Life posts Rs 311 cr net income for Dec quarter; policy sales jump 20 pc
''We have maintained positive momentum in business and profitability, and have registered a strong year-on-year growth of 20 per cent in the value of new business (VNB). Almost half of our new business premium has been contributed by the protection and annuity...
LIC listing: Inside the all-out campaign to prepare India’s biggest IPO
A knock-out listing could see LIC raise as much as $10 billion from the IPO with a minimum dilution of 5%. That would make it the third biggest globally involving an insurer Mumbai:In Mumbai’s sleek skyscrapers, harried bankers race the clock to appraise a company...
“Provide separate bucket for life insurance premium, tax-free annuity in Budget”
The Rs 1,50,000 limit for tax rebates is a pretty cluttered bucket and it does not give much space for the life insurance premiums (to get the full benefit of tax exemption), Karthik Raman, CMO and Head - Products, Ageas Federal Life Insurance, told PTI Life insurers...
New life reinsurer “Martello Re” launched, funded by MassMutual, Centerbridge Partners and Brown Brothers Harriman
The company will initially focus on providing MassMutual and its subsidiaries with reinsurance capacity on current product offerings, after which it will offer its services selectively to other top insurers in the life and annuity space HAMILTON, Bermuda and...
FOCUS-Life insurers adapt pandemic risk models after claims jump
Claims rose most in the United States, India, and South Africa due to the more lethal variants and a rise in fatalities or illnesses among younger and unvaccinated groups The global life insurance industry was hit with reported claims due to COVID-19 of $5.5 billion...
LIC’s mega IPO to hit markets by March
Officials are working on the valuation of the company which manages more than $450 billion of assets, and once that is done they will issue a draft IPO prospectus for investors, a government and two banking sources with direct knowledge of the matter said. New Delhi:...
Life insurance is witnessing shift from ‘savings ’ to ‘protection’:IRDAI member
K. Ganesh, Member (Life), IRDAI said fintech will redefine distribution and customer services Pune: K. Ganesh, Member (Life), IRDAI has said the Covid-19 pandemic has changed the peoples’ perspective of life insurance from ‘savings oriented’ to ‘protection oriented’....
78% of Indians feel insurance is an important part of financial planning: SBI Life Survey
But 38% of the Indians feel that the situation could worsen over the next three months and their top three worries attributed to (1) Rising medical/ treatment cost (2) Instability of Jobs (3) concerns around Health of family/self Mumbai, January 12, 2022: SBI Life...