Ajay Seth,chairman , IRDAI "The idea is to allow for an orderly...
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HDFC Life net profit rises 13.60% to Rs 508 cr in Q2FY27
``We expect to sustain this momentum and grow in line with the...
Fairfax plans to merge Digit, IIFL Capital with IDBI Bank to build global financial services major, N. S. Kannan to be bank’s chairman
Prem Watsa, chairman and chief executive officer of Fairfax...
Distribution reforms to generate employment, make new players’ entry easier: IRDAI Member
Girija Subramanian,member, Distribution, IRDAI The effective dates under consideration for implementing the new reforms are Jan. 1 and April 1, said Girija Subramanian,member, Distribution, the Insurance Regulatory and Development Authority of India(IRDAI)....
Microfinance sector must prioritise savings, insurance over credit to avoid recurring crises: CEA Nageswaran
Chief Economic Adviser V Anantha Nageswaran said microfinance institutions need to move beyond lending and focus on building sustainable livelihoods and financial security for low-income households. New Delhi: India's microfinance sector must prioritise savings and...
GIC Re’s credit ratings affirmed by AM Best
The ratings reflect GIC Re's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management. In addition, the ratings factor in a neutral impact from...
Govt directs banks to increase awareness of claim eligibility in Jansuraksha insurance schemes
Sanjay Lohiya,secretary, Department of Financial Services , also asked banks to enrol all new beneficiaries of PMJJBY & PMSBY through the Jan Suraksha portal as the portal will be integrated with all banks and insurers thereby enhancing the quality of data and...
IRDAI’s distribution reforms faces pushback from brokers, auto dealers
Brokers are seeking an extension of a deadline for consultation on the proposals to late December from October 25, an independent impact assessment, as well as the removal of caps on commission. The proposals could lower broker revenues by nearly 70%, IBAI President...
ICICI Prudential rebrands itself as ICICI Life Insurance
Private sector firm 'ICICI Prudential Life Insurance' on Monday rebranded itself as 'ICICI Life Insurance' following Prudential Plc ceasing to be a promoter of the entity.The name of the company now stands changed to ‘ICICI Life Insurance Limited’ with effect from...
IRDAI reforms push insurance distributors to explore new revenue streams: Nomura
Among the covered life insurers, Axis Max Life may need the highest reduction in operating expenses at 9.1 per cent over five years, followed by HDFC Life at 3.7 per cent and ICICI Prudential Life at 2.3 per cent, after factoring in the estimated benefit from lower...
IRDAI to meet industry CEOs on Monday to delibarate new distribution reforms
“ “I have been meeting CEOs of the industry over the last few days to understand their views on the new consultation paper. We will meet all the CEOs on Monday to discuss the implementation of the distribution reforms and would like to get detailed industry feedback...
CBI chargesheets RCom, ex-LIC investment chief in ₹3,750-cr cheating case
In its charge sheet filed before a Special CBI court in Mumbai, the agency has named as accused "Reliance Communications Ltd., two executives of the Reliance ADA Group, namely, Amitabh Jhunjhunwala, Group MD, Vishwas Joshi, Sr. VP, Reliance Capital Limited and P....
ICICI Bank’s Sidharatha Mishra appointed as MD&CEO of ICICI Pru Life
Sidharatha Mishra, MD&CEO-designate, ICICI Pru Life The post of MD & CEO at ICICI Prudential Life Insurance has fallen vacant after Anup Bagchi quit the company to head HDFC Bank Mumbai: Private sector life insurer ICICI Prudential Life Insurance has appointed...