The implementation of Bima Sugam is going as planned and is now...
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Bima Manthan:IRDAI asks insurers to strictly focus on claim settlement, zero-tolerance to non-compliance of regulations
Debasish Panda, chairman,IRDAI Distribution reforms in the pipeline...
Project DIVE: LIC launches Marketing Tech platform to power next-generation customer engagement
Siddhartha Mohanty, CEO & MD, LIC, said, "With the launch of...
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...
LIC IPO: Corporation’s embedded value set at over Rs 5 trn,DIPAM Secretary
While there has been speculation about the number in Indian media - from as low as $53 billion to as high as $150 billion - this is the first time the government, which owns 100% of LIC, is commenting on the matter. The embedded value will help establish the market...
HSBC Insurance intends to buy PNB stake in Canara HSBC OBC Life Insurance
PNB had acquired a stake in the life insurer post amalgamation of the erstwhile Oriental Bank of Commerce (OBC) with the bank in FY20 Canara Bank owns 51 per cent stake, while HSBC Insurance (Asia Pacific) Holdings Ltd as a foreign partner owns 26 per cent. New Delhi:...
LIC 10th most valued insurance brand globally with $8.65 bn valuation: Report
LIC,which is bound for the nation's largest share sale by March, is the strongest and the largest brand in the country with a valuation of $8.656 billion (around Rs 64,722 crore), which also makes it the third strongest insurance brand globally, according to a brand...
LIC IPO: Draft prospectus to be filed next week, issue in March: Dipam Secy
Secretary in the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey, said approval of the insurance regulator is awaited, post which the draft prospectus, detailing the size of the share sale, will be filed. New Delhi: Government is likely...
XL’s India FRB to shut down, to be merged with AXA France’s FRB
-Prior to the global merger- AXA group acquired XL group in 2018- both the groups had their own FRBs in India and are continuing to operate as separate entities in the country till now -IRDA confirms its stand formally to allow only one FRB belonging to the group....
Insurers hope to benefit from Budget spurred economic growth
``We are confident that the proposed measures such as the National Digital Health Ecosystem and the tele mental health program will raise awareness, and in turn encourage people to opt for health insurance,’’ said. PC Kandpal, MD & CEO, SBI General Insurance...
Budget 2022-23:FY’23 disinvestment receipts pegged at Rs 65K cr; LIC IPO expected shortly
''The public issue of the LIC is expected shortly. Others too are in the process for 2022-23,'' FM said New Delhi: The government's receipts from disinvestment proceeds in the next financial year beginning April have been pegged at Rs 65,000 crore, lower than the...
Economic Survey: India lags behind global average in non-life penetration
As of 2020, the penetration for life insurance in India is 3.2 per cent and nonlife insurance penetration is 1 per cent New Delhi: Though, India is at par with international average in terms of insurance penetration for life insurance, the country lags behind in...
LIC revises annuity rates for Jeevan Akshay and New Jeevan Shanti
Life Insurance Corporation(LIC) has revised its annuity rates for Jeevan Akshay and New Jeevan Shanti with effect from 1st Feb 2022.The modified version of these plans with revised annuity rates shall be available for sale from 1st Feb .The annuity amount under both...