The deadline for the implementation of the approved resolution plan...
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Upstox ties up with HDFC Life for selling insurance products
Upstox, a wealth management platform today launched its entry into...
“Reliance Capital asks for extra 10 days for Hinduja group asset transfer”
The deadline for the transfer of Reliance Capital's asset to Aasia...
PM inaugurates Ayurveda research & teaching instituteJamnagar,
“Institute of Teaching and Research in Ayurveda will be the first institution with institution of national importance status in the AYUSH sector, and this will enable the institution to be independent and innovative in the matter of deciding course content and pedagogy. The decision to set up the institute comes at a time when global interest in health solutions based on traditional wisdom is at an unprecedentedly high level and ITRA is poised to take Ayurveda education to new vistas,”
IRDAI allows e-signature of customers for buying life insurance policies till March 2021
The insurance agents can’t solicit non-single premium unit-linked insurance policies for annualized premium exceeding Rs.50,000 or single premium unit-linked insurance policies exceeding Rs. 1,00,000.
Global insurance markets set to rebound with China leading recovery, says Swiss Re
Global insurance premiums expected to grow by 3.4% in real terms in 2021, after contracting an estimated 1.4% in 2020
China will lead recovery with premiums up by an estimated 10% in non-life next year, and by 8.5% in life
Insurance recovery supported by heightened risk awareness driving demand and continued strong rate hardening
Amid uncertainty of how the COVID-19 crisis will evolve, and the risk of trade war and a credit crisis, public policy should focus on sustainable infrastructure development and inclusive growth
Global insurance markets set to rebound with China leading recovery, says Swiss Re Institute
Still no clarity from UK to assess financial market access, says EU
With less than two months before Britain’s full access to the EU ends under post-Brexit transition arrangements on Dec. 31, London’s giant financial hub faces being largely cut off from its biggest customer.
Britain’s finance minister, Rishi Sunak, said on Monday he would not wait for Brussels to decide on UK access and would instead unilaterally allow EU financial firms to offer selected services to UK customers from January.
Edelweiss Tokio Life Insurance launches one yr Covid-19 cover,offers a minimum critical illness benefit of Rs10 lakh
With premium rates starting at only Rs. 5,329,the product,it offers a substantial critical illness benefit, a term cover, and offers instant decisioning without any medical examination
In addition, on diagnosis of Covid-19, the product also triggers minimum enhanced term cover worth Rs. 25 lakhs sum assured.
Life insurers’ new premium income rises 32 % to Rs 22,776 crore in Oct, LIC & HDFC Life shine
Majorly bolstered by Individual Single Premium and Group Single Premium, LIC, with a market share of 70 per cent, itself has grown its new premium income by 36 per cent y-o-y to Rs 15548.06 in the month of October while the private sector led by HDFC Life has expanded by 23.56 per cent y-o-y to Rs 7227.96 crore during the month..
Threat of crackdown on U.S. insurers fades as political ‘Blue Wave’ sputters
That bodes well for the insurance industry, which had feared a Democratic sweep would allow progressives to reprise regulations introduced after the 2008-2009 financial crisis and push a disruptive healthcare overhaul.
Health insurance stocks jumped on Wednesday, as fears of a dramatic change faded. The S&P 500 managed care index .SPLRCHMO rose 9.8% as investors and insurance trade groups cheered an expected Republican hold on the Senate.
IRDAI unveils draft norms on shareholders’ compensation post M & A of insurers
The Insurance Act, 1938 has laid down that every policyholder or shareholder or member of each of the insurers, before amalgamation, will have the same interest in, or rights against the insurer resulting from amalgamation as he had in the company of which he was originally a policyholder or shareholder or member
Insurers have to collect BI policy premiums for 150 years to make up for COVID-19 global losses:Geneva Association
Among the report’s, prepared by the Geneva Association, main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.
However P&C insurers have nowhere near the capacity needed to shoulder projected global output losses of more than USD 4 trillion for 2020. By comparison, they collect USD 1.6 trillion in annual premiums, with just USD 30 billion for business interruption policies.
RBI asks Axis bank to restructure its plans to acquire stakes in Max Life
Under the revised agreements, Axis Bank will acquire upto 9.002 per cent of the equity share capital of Max Life, and, Axis Capital Limited and Axis Securities Limited will together acquire upto 3.000 per cent of the share capital of Max Life.
In addition, Axis Entities will have a right to acquire an additional stake of upto seven .per cent of the equity share capital of Max Life, in one or more tranches..