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LIC to spend up to Rs 840 crore for Bima Sakhis, targets Rs 4,000 crore new business in 1st yr
Siddharth Mohanty, MD and CEO, Life Insurance Corporation Talking...
PM Modi launches LIC’s ‘Bima Sakhi Yojana’
Prime Minister Narendra Modi is handing over Certificates to one of...
LIC inaugurates `Digi Zone’ to sell policies online
Mumbai: Life Insurance Corporation (LIC) of India has set up a 'Digi Zone' as part of its effort to enhance its digital footprint. It was inaugurated by LIC chairperson M.R. Kumar on Wednesday. "LIC plans to undertake the next wave of digital transformation to unlock...
LIC seeks bids for consultancy services for its digital transformation
The strategy drawn should be in line with LIC's business strategy with the aim of organizational growth, sustainable competitive advantage, increased productivity of intermediaries, creating a unique as well as best value for customers, according to the EoI document...
Tata AIA Life premium income rises 23 pc to Rs 5,255 cr in H1 FY22
The company's total assets under management (AUM) increased 38 per cent in H1 FY22 to Rs 51,704 crore from Rs 37,409 crore in H1 FY21 Mumbai: Tata AIA Life Insurance has reported a 23 per cent rise in its total premium income of Rs 5,255 crore for the first half of...
Govt inducts three insurers as part time members into BBB
The new members are Usha Sangwan, former MD, Life Insurance Corporation representing the life segment, A.V. Girija Kumar, former CMD, Oriental Insurance Company(OIC), for non-life, Sujay Banarji, former member,(Distribution), for re-insurance or actuarial science New...
ICICI Pru Life’s new term insurance plan to return 105% of premiums paid on maturity
Term plans with auto-adjusting life cover, basis changing life-stages, to suit customer’s requirements Option to take cover against 64 critical illnesses Mumbai: ICICI Prudential Life Insurance has launched an innovative term insurance product ‘ICICI Pru iProtect...
LIC withholds dividend payment to govt in last 2 yrs, conserves Rs 6,300 cr capital
Sources at LIC said that the corporation has already accumulated Rs 6,300 crore of capital by not paying any dividend to the government in recent years and planning raise more though, at present it is not known how it will do it Mumbai: In a bid to conserve capital,...
India’s insurance penetration expands by 12% to 4.20% 2020-21,non-life penetration hits 1%
Atul Sahai, CMD, New India Assurance and chairman of General Insurance Council Non-life insurance penetration touching 1 per cent is a very important milestone for the Indian non-life insurance industry. Despite being an extremely challenging year the non-life...
COVID-19 to reduce UK life expectancy by 9 Months:Royal Bank of Canada analysts
The increased mortality will allow the life insurers to release more funds that have been set aside in reserves, boosting operating profit by 7.4 billion pounds ($9.8 billion), or 16%, each year for the next five years, RBC said. The coronavirus pandemic is seen...
More women beneficiaries joining insurance schemes PMJJBY, PMSBY, says govt
The schemes have seen significant growth in terms of the cumulative number of women enrolled in these schemes, the minister said. Under PMSBY there are 10,26,45,751 women beneficiaries and under PMJJBY there are 3,42,40,254 beneficiaries As many as 1,60,925 women were...
Govt refutes speculation over LIC IPO’s delay, says it is ‘on course’
"Some media speculation doubting the feasibility of LIC IPO this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," Secretary of Department of Investment and Public Asset Management tweeted New Delhi:...