Insurers will have to specifically state that market-linked...
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Sanlam to buy majority stake in financial wing of top African media group
The deal gives Sanlam an opportunity to further expand its...
RCap resolution: NCLT to hear IIHL plea for deadline extension on June 20
IIHL has moved NCLT seeking a 90-day extension beyond the deadline...
HDFC Life & HDFC Ergo launch a combi protection plan with term & COVID-19 health cover in a single policy.
HDFC Life’s C2P3D Plus is one of the most flexible and customizable term plans in the market. HDFC Ergo’s Corona Kavach is an indemnity health policy that was launched earlier this year to offer cover against medical expenses incurred due to hospitalization of individuals seeking treatment for COVID-19, on a positive diagnosis for the virus, in a government authorized diagnostic centre
DIPAM looks to appoint consultant for govt share sale in banks, insurance cos
The consultant may be required to prepare background reports on the above sectors and may be assigned other role depending upon the requirements of DIPAM, the RFP said.
Experience in government accounting, government financial procedures and office procedures is desirable.
Zurich Insurance nears $4 billion deal for MetLife unit
It would also allow MetLife to exit a business in which it faces fierce competition from larger players such as State Farm, GEICO and Progressive Insurance.
LIC launches industry’s first digital tool to issue a policy through a paperless module
The digital application is a tool for the on boarding process to get the life insurance policy through a paperless module with the help of the agent / intermediary.It is built on paperless KYC process using Aadhaar based e-authentication of the life proposed
Govt approves swap of Mitsui Sumitomo’s Max Life stake with Max Financial Services
The transaction entails swapping by MSI of 20.6% stake that it holds in Max Life with a 21.9% stake in MFSL This will result in MFSL’s stake in Max Life increasing to 93.10%.
Commenting on the development, Mohit Talwar, MD, Max Financial and Vice Chairman, Max Group, said, “Once concluded post regulatory approvals, this transaction will mark an important step for Max Financial to consolidate its shareholding in Max Life paving the way for a new beginning in form of a joint venture with Axis Bank.”
Generali to step up asset management expansion
The group’s long-term ambition is to position Generali among the top five multi-boutiques in the world by profits, it said. These are usually specialized investment divisions operating under the umbrella of a larger company.
“We have 2.5 billion euros for further acquisitions,” the insurer’s general manager Frederic de Courtois said in a presentation.
ClearView adopts Munich Re’s new cloud-based digital services solution to automate underwriting decisions
ALLFINANZ Cloud,will enable ClearView to pursue its multi-year IT transformation project, which is centred on the development of an integrated life insurance Policy Administration System and a cloud-based underwriting rules engine, and strives to enhance the customer and advisor experience.
The platform will also support the experience of underwriters and other staff by giving them insights and easy-to-use tools to continually fine-tune underwriting rules, business processes and customer journeys.
Covid-19 Pandemic to slow down top 10 largest global insurance markets in 2020
The world’s 10 largest insurance markets, in order, as defined by total premium written in 2018-2019, are: the United States, China, Japan, the United Kingdom, France, Germany, South Korea, Italy, Canada and Taiwan. The Triple-I’s projection of a 4.5% GDP decrease in the world’s 10 largest insurance markets in 2020 as compared to 2019 was weighted based on the total premium written in each one.
Ahead of IPO FinMin invites bids from actuarial firms for valuing LIC
The Request for Proposal has been issued to seek proposals / bids from reputed and eligible actuarial firms to work with LIC to “develop IEV in line with the requirements of the relevant Acts and regulations, Actuarial Practice Standards and guidance notes issued by the Institute of Actuaries of India and LIC Act, 1956, and to provide support during the IPO process”, it said.
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,”