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GIC Re’s net profit jumps 42% to Rs1036 cr in Q1FY25
N Ramaswamy, CMD, GIC Re GIC Re has expanded its...
LIC eyes majority stake in a health insurance company: CEO
Siddarth Mohanty, MD& CEO, LIC, said the work has already...
Siddhartha Mohanty appointed as LIC’s MD, to be a front-runner for corporation’s chairmanship
Mohanthy will be clear-cut front-runner for the post of LIC chairman, after MR Kumar retires in June end after reaching 60, as he will be the only serving MD in the corporation,who will be having two years of residual services, which is one of the eligibility criteria for any contender to be considered for the top post at LIC.
Headed by Kumar, chairman,the corporation has currently has four MDs out of which three MDs will be retiring within the next year
.After Susheel Kumar, Vipin Anand and Mukesh Gupta will be retiring in July and Oct respecitively.. .
DHFL resolution: Lenders approve Piramal”s $ 5 billion bid
Its large lenders are SBI, including SBI Singapore with Rs 10,083 crore exposure. Others are Bank of India (Rs 4,125 crore), Canara Bank (Rs 2,681 crore), NHB (Rs 2,434 crore), Union Bank (Rs 2,378 crore), Syndicate Bank (Rs 2,229 crore), Bank of Baroda (Rs 2,075 crore), Indian Bank (Rs 1,552 crore), Central Bank (Rs 1,389 crore), IDBI Bank (Rs 999 crore) and HDFC Bank (Rs 361 crore).
The company has also exposures from insurance companies including Life Insurance Corporation and New India Insurance which have already taken hits on the account by showing it as a non-performing assets…
LIC drags new premium biz down 3% in Dec, private life insurers fare well
IRDAI asks life insurers to maintain 13th month persistency at 90%
Life insurance business expected is to grow by 12 to 15 per cent in the coming years and life insurers will play a crucial role in creating huge employment through agency channel under the “New Normal, said M R Kumar, Chairman, Life Insurance Corporation
LIC policyholders get a 2nd chance to revive their lapsed policies in current fiscal
Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from date of the first unpaid premium subject to terms & conditions.
In the revival scheme,for upto premium payment upto Rs.1,00,000, a policy holder can avail 20 per cent discount(subject to a maximum of Rs. 2000), for premium payment of Rs 1,00,001 to Rs 3,00,000,a discount of 25 per cent ( subject to a maximum of Rs. 2500) and fom Rs 3,00,001 and above,a discount of 30 per cent (subject to a maximum of Rs. 3000).
Certain other concession in health requirements is also being offered subject to eligibility. Most policies can be revived only on the basis of a declaration of good health and a covid questionnaire to be submitted by the proposer/life assured.
AM Best ranks UnitedHealth Group and Allianz SE as world’s largest insurers
Allianz SE and Prudential Financial, Inc. jumped ahead of AXA S.A. into the No. 1 and No. 2 spots, respectively, in AM Best’s ranking by 2019 non-banking assets.
AXA to sell its Greece operations for €165 million
Paris: AXA announced today that it has entered into an agreement with Generali to sell its insurance operations in Greece. Under the terms of the agreement, AXA will sell its Life & Savings and Property & Casualty businesses in Greece for a total cash...
BBB to interview 5 candidates on Jan 4 to select CMD of Oriental Insurance Company
The shortlisted candidates who will be appearing for the interview for OIC CMD post are – Anjan Dey, director and general manager, GIC Re, Shobha G. Reddy, general manager,National Insurance Company(NIC), M. Bhaskar, general manager GIC Re, Suchita Gupta, GM, GIC Re, Surya Swaroop Saxena, GM, Agriculture Insurance Company of India.
IDBI Federal Life Insurance rebranded as Ageas Federal Life Insurance after IDBI sells its 27 % stake in the life insurance JV for Rs 510 cr
IDBI Bank has completed execution of an agreement to sell up to 27 per cent stake in its joint venture insurance arm, IDBI Federal Life Insurance Company Limited (IFLI), to the other JV partners Ageas and The Federal Bank Limited, for a consideration of over Rs 500 crore
Factbox-Brexit and the City of London: what changes and when
For now, no. London still has a towering lead over rivals Frankfurt, Milan and Paris when it comes to trading stocks, currencies and derivatives and playing host to asset managers.
Financial firms say shifting more capital out of London than is necessary under Brexit would cause unnecessary and costly market fragmentation.
But in the longer term, if the EU takes a tough line on equivalence and its financial centers reach a critical mass in trading key asset classes, the attractions of London as a financial hub would diminish.