Vivek Joshi ,Financial Services Secretary Banks have been...
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Govt approves 17 % wage hike for LIC employees
The revision incorporates an enhancement in National Pension...
Life expectancy dropped by 1.6 years during pandemic, reversing past progress: Lancet study
The study found that life expectancy declined in 84 per cent of...
IAI to host 3-day 21st Global Conference of Actuaries in Mumbai from Feb 17
“The Global Conference of Actuaries provides a platform where the actuaries and non-actuaries from all across the globe gather and share their views and opinions on matters that impact the financial services Industry, particularly in the area of Insurance,pensions, risk management, data science and analytics. With such an event, we create opportunities for actuaries all over the globe to learn/contribute papers/presentations on the financial aspects that affect the financial industry as a whole. This year is special as we complete 75 years of the Indian Actuarial Profession and celebrate platinum jubilee year,” said Sunil Sharma, President Institute of Actuaries of India.
Bill Coen appointed chair of the IFRS Advisory Council
The new Advisory Council Chair will have three priorities. First, to provide leadership and set the agenda for the 2020 meetings; second, to assess for the Trustees of the Foundation any relevant changes that may be warranted in the role and composition of the Advisory Council; and third, to position the Council through any transition.
Govt open to further consolidation of banks depending on need: Anurag Thakur
Asked about listing of LIC as announced in the Budget, Thakur said it will help bring in greater transparency, public participation and also deepen the equity market.
IRDAI to expand its regulatory Sandbox project soon:Khuntia
“ We in Irdai have already allowed a regulatory sandbox regime because we do not know whether the (existing) regulations will be adequate for the new processes that these technologies will need.This is an experiment we we’ll allow for six months and up to one year.If we find that these are old processes which will help transactions and make life easier for the insurer as well as the insured without compromising on the policy holders protection, we will think of tweaking the regulations to make it happen.”
IPO bound LIC to start valuation exercise soon, assets increases by 8% to Rs 32,25,905 cr till Jan end
On the proposed initial public offer (IPO) , MR Kumar said that, there are lot of figures floating around the market capitalization and size of IPO. “We have not done the maths. Unless we do our internal discussion and maths, I dont think we would be able to answer that today. Valuations has to be reasonably, scientifically and lot of work has to be done,”he said.
Max Life’s net profit at Rs 154 cr, up 92 % in Q3 FY2020
in an insurtech push, Max Life Insurance has announced the selection of seven start-ups to engage with ‘Max Life Innovation Labs’, the Company’s flagship ‘InsurTech’ accelerator programme.
Coronavirus: For China virus insurance, check the small print
The reinsurance market at Lloyd’s of London has not seen any untoward activity from traditional insurers looking to hedge their exposure to risks arising from this outbreak, two sources in the underwriting trade said.
IRDA sets up panel to explore allowing exclusive micro-insurance cos
The indicative regulatory aspects are: Capital and Solvency,Underwriting, Product and Claims,Finance and Accounting, Investments, Operations, Corporate Governance
LIC disinvestment: 100,000 employees stage walk-out across country
“Being one of the biggest financial institutions of the country, any move to privatise LIC will shake the confidence of the common man and will be an affront to our financial sovereignty. The very purpose of LIC to provide insurance coverage to socially and economically backward class at a reasonable cost will be defeated and motto will change from service to profit,” the statement said.
Coronavirus to hit reinsurers hard:AM Best
einsurers may face higher levels of risk than L/H insurers, as their risk profiles entail higher exposures to mortality and morbidity risks. However, global reinsurers have been broadening their risk exposures in recent years in an effort to minimize the concentration of mortality and morbidity risks.