Bajaj Allianz Life Insurance has conducted financial awareness...
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Claims ratio of non-life insurers dips to 82.52% in FY24: Irdai report
The incurred claims ratio for private sector general insurers,...
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...
ICICI Pru Life Insurance signs the UN Principles of Responsible Investing
Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance said, “As part of our commitment towards promoting sustainable investing we recently launched the ‘Sustainable Equity Fund’, an ESG-focused fund, and in the process became the first life insurance...
Shriram Group to merge finacial biz, hive off insurance
Shriram group will merge Shriram Capital Ltd and Shriram City Union Finance with Shriram Transport Finance Shriram Capital will demerge its financial services and insurance business and the rest of its business to be merged with Shriram Transport The new entity will...
AMFI pitches for pension oriented MF Scheme; tax parity with ULIPs
Amfi has proposed ''to bring parity in tax treatment in respect of capital gains on withdrawal of investments in ULIPs of Life Insurance companies and redemption of Mutual Funds Units, so as to bring about level playing field between ULIPs and MF scheme''. The...
Swiss Re agrees to sell elipsLife to Swiss Life International
Andreas Berger, Chief Executive Officer Swiss Re Corporate Solutions, said: “We are very pleased to have found the perfect partner in Swiss Life to take elipsLife into a successful future. The sale will allow Corporate Solutions to focus on continuing the strong...
Canada’s CPP Investments seeks to sell insurance groups in strategy U-turn
Private equity firms and investment managers including Blackstone Inc, Brookfield Asset Management and KKR & Co Inc have been building up their insurance arms in the last two years. They see an opportunity to use the capital from life insurance and annuities...
Generali eyes bigger stake in India businesses as Future seeks exit: Report
Future and another Indian entity together own a 51% stake in the life-insurance joint venture with Generali, while Future holds all of the remaining 51% stake in the non-life insurance venture Future is hoping to raise 30 billion rupees ($400 million) by selling its...
Munich Re to digitalise Tokio Marine’s NEW BUSINESS in Malaysia
“Before COVID-19, we conducted most of our business face to face. However, the onset of the pandemic made it necessary to shift into a different way of doing, and thinking about, business. Munich Re’s ALLFINANZ SPARK will help to utilize more digitally advanced...
New premium income of life insurers up 42 pc at Rs 27,177 cr in Nov: Irdai
The insurance behemoth LIC -- the only state-owned life insurer in the country -- witnessed over 32 per cent rise in the first-year business premium in November at Rs 15,967.51 crore, as against Rs 12,092.66 crore in the year-ago same period, Irdai data shows Rest of...
AIA Commits to Achieving Net-Zero Greenhouse Gas Emissions by 2050
Lee Yuan Siong, AIA Group Chief Executive and President, said, "Our commitment to net-zero by 2050 will support the delivery of long-term sustainable value for our customers, our shareholders and our communities. AIA is wholly focused on Asia and, driven by our...
LIC improves asset quality ahead of IPO; lowers net NPA to 0.05%
The percentage of gross NPA is 7.78 percent while the net NPA is 0.05 percent at the end of March 2021. This is lower than gross NPA of 8.17 percent (as a percentage of its debt portfolio) and net NPA of 0.79 percent in the previous year Mumbai:Ahead of its proposed...