N Ramaswamy, CMD, GIC Re One of the outstanding features of GIC...
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Draft bill seeking 100 pc FDI in insurance to be sent for Cabinet nod soon: DFS Secretary
Finance Minister has already given her approval and announced in...
Budget 2025: Insurers and experts hail game changing moves
The FDI limit being raised from 74% to 100% will prove to be a...
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...
Government may seek Rs 15 trillion valuation for LIC, aims to file prospectus for IPO by Jan end
The government is still awaiting the completed valuation report, the people said, and projected valuations may change based on that. They added that LIC could be valued at as high as five times the so-called embedded value — higher than 3-4 times for most insurers...
Life insurers’ new business premium income nearly flat at Rs 24,466 cr in Dec
On a cumulative basis, the first-year premium of all life insurers during April-December 2021 jumped 7.43 per cent to Rs 2,05,231.86 crore Hyderabad: Life insurers' collective new business premium income stayed nearly flat from a year ago at Rs 24,466.46 crore in...
DPIIT to come out with revised FDI policy to facilitate LIC disinvestment: Secy
The matter is being discussed with the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM) New Delhi: The commerce and industry ministry is making changes in the foreign direct investment (FDI) policy to facilitate...
IRDA proposes pay cut for insurance CEOs in case company underperforms financially, mulls tenure limit at15 yrs and age limit at 70 yrs
The variable remuneration should be reduced where there is deterioration in the financial performance of the insurer. The deterioration in the financial performance should generally lead to a contraction in the total amount of variable remuneration, which can even be...
HDFC Life completes acquisition of Exide Life; merger to take place shortly
Vibha Padalkar, MD & CEO, HDFC Life HDFC Life completed the acquisition of 100% stake in Exide Life from Exide Industries through issuance of 8,70,22,222 shares at an issue price of Rs. 685 per share and a cash payout of Rs. 726 crore,aggregating to Rs. 6,687...
Irdai directs Go Digit to withdraw product offering life insurance benefits
The matter relates to modification in the Digit Group Total Protect Policy by the insurer in July this year, under which one additional section by name of 'Major Illness Plus Cover' was incorporated in the policy Hyderabad: Insurance sector regulator Irdai has asked...
HSBC gets approval to buy out China life JV
HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulatory Commission to buy the remaining 50% in its venture HSBC Life China, the bank said HSBC said on Thursday it had received regulatory approval in China to take full ownership of...
LIC, GIC Re, New India continue to be systematic important insurers, need extra supervision: IRDAI
Domestic systemically important insurers(D-SIIs) are already being subjected to enhanced regulatory supervision as the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy On Thursday, the...
2022: A likely year of firsts for insurance; general insurer privatisation, LIC share sale on cards
There are fears that LIC listing may be pushed beyond March 2022 as the valuation of the state-owned behemoth is taking more than anticipated time and preparatory work is still far from complete New Delhi: With the amended general insurance business legislation, the...