The government has mandated the Public Sector Insurance companies...
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Hong Kong slaps AIA with record fine for anti-laundering lapses
The lapses resulted in some customers who were “politically exposed...
Reliance Capital resolution: CoC warns of remedial action against Hinduja owned IIHL
Hinduja owned IIHL failed to meet the deadline of July 31. On...
Max Life Insurance selects four startups to build innovative solutions
The four selected start-ups will partner with Max Life to co-develop solutions in the areas of non-invasive medical tests, digital twin, intelligent data acquisition, and health and wellness through targeted programs.
Global fertility rate: Are we heading towards a population crash?
There is some evidence that shrinking populations are bad for the global economy. To me, however, the greater tragedy would be a failure to take full advantage of the planet’s capacity to sustain human life. No kind of family policy should be mandatory. But there should be policies that make larger families a more appealing option, both economically and otherwise.
Disinvestment target of FY22 achievable; LIC IPO to bring Rs 1 trn: CEA
“Of this, BPCL privatisation and LIC listing itself were important contributors. There are estimates suggesting Rs 75,000-80,000 crore or even higher can just come from the privatisation of BPCL itself. LIC IPO could bring in Rs 1 trillion approximately,” he said.
Aviva sells Polish business to Allianz for $2.9 billion
Allianz, which first entered the Polish market in 1997, ranks as Europe’s biggest insurer and while it has no plans to grow its life insurance operations, it sees the deal as a springboard to further expand across lucrative central and eastern European markets, sources told Reuters.
Aviva’s boss Amanda Blanc has been selling assets at pace to focus on the life and general insurer’s core businesses of Britain, Canada and Ireland. Aviva also has joint ventures in China and India.
Parliament approves Budget 2021, paves the way for LIC listing
Parliament cleared changes to the finance Bill 2021, doubling the minimum limit of employee contribution to provident fund to over Rs 5 lakh for the purpose of taxation with some riders, paving the way for the listing of Life Insurance Corporation (LIC), exempting Indian-owned assets sold on digital platforms from equalization levy, and giving tax holidays for the proposed development finance institutions (DFIs).
Parliament passes insurance amendment bill to raise FDI limit to 74%
The minister said the government will provide funds to the public sector insurance companies but private players will have to raise capital on their own.
Worrying decline in health of Gen X, Y in US: Study
The researchers showed that compared to previous generations, members of Generation X and Generation Y showed poorer physical health, higher levels of unhealthy behaviour such as alcohol use and smoking, and more depression and anxiety.
According to the lead researcher, Hui Zheng from The Ohio State University, the results suggest the likelihood of higher levels of diseases and more deaths in younger generations than seen in the past.
“The worsening health profiles we found in Gen X and Gen Y is alarming,” Zheng said.
Londoners hit by ‘staggering’ drop in life expectancy due to Covid-19
Analysis by the King’s Fund health think-tank saw the biggest falls in life expectancy in London, from 81.3 to 78.8 for men and 85 to 83.4 for women. They said it was worse than any fall since the Second World War, according to the Evening Standard.
LIC offers major facilities for maturity claim payments to its policyholders
LIC has allowed its 113 divisional offices, 2048 branches, 1526 satellite offices and 74 customer zones to receive maturity claims documents from policyholders whose maturity payments are due, irrespective of the servicing branch of the policy.
Rajya Sabha passes bill to raise FDI in insurance to 74%
“Majority of directors in the board and key management persons to be resident Indians which means every law of the land will be applicable on them. And a specific percentage of the profits is to be retained as general reserves. It cannot be (taken away),” Sitharaman said
India received FDI worth Rs 26,000 crore in the insurance sector after 2015 when the foreign investment limit was raised to 49 per cent from 24 per cent.