The SEBI had investigated some suspicious front-running trades...
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GST Council exempts tax on insurers’ contributions to Motor Vehicle Accident Fund, defers any decisions on life and health covers
No decision was taken with regard to reduction in GST on insurance...
GST Council to decide on insurance premium tax; major rate rejig unlikely
A final decision of the insurance taxation under GST is likely on...
Reliance Nippon Life aims at over 20 pc growth in new biz premium in FY22
Ashish's Vohra,Executive Director and CEO “As we see markets maturing, we see greater demand for guaranteed insurance products in the market. The growth will come from new products and new solutions,” Vohra said Mumbai Private life insurer Reliance Nippon Life...
income, investments, insurance and institutional credit to drive financial inclusion:PM Modi
Prime Minister Narendra Modi “When income grows, investment becomes possible. Insurance coverage enables greater risk-taking ability and investments. Institutional credit gives wings for expansion. And We have worked on each of these pillars. When all these factors...
China updates risk management rules for insurance groups
The move is aimed at curbing risk in the sector and pushing insurance groups "to focus on the core business, strengthen their equity investment management … and to curb disorderly expansion of capital," the China Banking and Insurance Regulatory Commission (CBIRC)...
Banks to reach out to anchor investors for LIC IPO after Paytm delay
The 10 underwriters will reach out to as many as 40 global firms about two weeks later than planned, the people said, asking not to be identified discussing private details. That’s because several of these firms were key investors in the IPO of fintech giant Paytm,...
Millennials- Singapore’s new ‘Sandwich Generation’
Among the foremost sources of financial concern listed by respondents were providing for their ageing parents financially (48%) and funding their own retirement (60%). Both worries could be linked to the rising costs of living and life expectancy here. In just a...
RBI supersedes Reliance Capital board, to start bankruptcy proceedings against firm
In a statement on its website, the central bank said it has superseded the board, “in view of the defaults by RCL (Reliance Capital Ltd) in meeting the various payment obligations to its creditors and serious governance concerns which the board has not been able to...
LIC to up stake in Kotak to nearly 10 pc
''Kotak Mahindra Bank has received an intimation from Life Insurance Corporation of India (LIC) stating that the Reserve Bank of India had granted its approval to LIC, for increasing its holding in the bank up to 9.99 per cent of the paid-up equity share capital of...
Pandemic hits Profitability of life insurers in Q1 FY2022, New Business to resume growth in H2 FY2022:Icra
While the profitability for select private players remains at similar levels in FY2021 with PAT of Rs. 59.6 billion (Rs. 55.4 billion in FY2020), the median ROE for select private players had been declining since FY2018 due to losses at certain smaller players, and a...
Australia Sues life insurer for causing financial harm to customers
The Australian Securities and Investments Commission (ASIC) has accused MLC, a part of Nippon Life Insurance, Japan’s biggest insurer, of service failures resulting from poor systems and controls over a period from 1999 to 2020, which caused financial harm to over...
Allianz Becomes China’s First Wholly Foreign-Owned Life Insurer
Many foreign financial institutions are looking to expand their onshore presence in China, taking advantage of a relaxation of ownership restrictions for foreign players in the asset management, insurance and securities broking sectors. Allianz said on Wednesday that...