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Committee of Creditors asks Hindujas to complete RCap resolution by March end
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LIC IPO: Interest of policyholders will be protected, says Anurag Thakur
“Government came out with the idea (LIC listing). The details will follow and it will be in the interest of LIC and its policyholders. Interest of LIC and policyholders will be safeguarded,” he told PTI in an interview.
LIC’s partial disinvestment could fetch the govt $11.9 billion:Analysts
Sameer Kalra, a strategist at Target Investing, estimates the IPO to be valued between 910 billion rupees and 1.01 trillion rupees, given an average 12-month forward price-to-earnings ratio of 30 to 35 times. “That is the range in which all the life insurance companies got listed,” he said.
LIC listing could come in second half of FY21, says Finance Secretary
“We will follow the extant procedure for listing and for other things including the legislative changes it requires in consultation with the Ministry of Law and that process we already started … listing in the second half of FY21 seems logical,” he said.
IRDAI allows re/insurers to launch ART Solutions with its prior approvals
“In case, the re/insurer intends to adopt ART, non-traditional structured solutions, Financial Re-insurance, then it shall take prior approval of the IRDAI,” said IRDAI.The insurers have to inform the IRDAI on or before 1st March of every year about any such proposed re-insurance arrangement to be entered in to by the insurer.
Divestment to help both LIC, government: Jayant Sinha
There are three benefits from the disinvestment of the LIC – it will be strengthened with the listing with share market, which requires reporting every month. It will also bring in accountability, transparency and efficiency,” the MP from Hazaribag said.To a query on the fate of policy-holders, he said all of them will get every benefit assured in their policies as there is no connection between the disinvestment initiative and policies.
Budget-2020:FM unveils disinvestment plans for LIC
On the the IPO size and timeline for the LIC disinvestment plans, Rajeev kumar, finance secretary cum secretary department of financial services(DFS) said the detaisl are being worked out.
“It will be finalised in the next fiscal.The required measures and the processes,including the consultations with the Law ministry,for the disinvestment of LIC, have already been initiated” said Kumar.
LIC may become biggest firm by m-cap; valuation can hit Rs 10 trn: Experts
“LIC is likely to become the country’s biggest company by market capitalisation on the day of the listing given that it is the largest company in terms of assets under management (AUM),” Kajal Gandhi, Analyst, ICICI Direct said.
Digitalisation:Transforming The Insurance Industry
“As a result of digitalisation, insurers now have direct connection to their customers“, says Jeffrey Bohn, Chief Research & Innovation Officer at Swiss Re Institute. “With the availability of granular data, insurers can better segment customers enabling them to develop new tailored products and services, and refine existing ones in real time. This benefits customers and insurers alike.“
Budget 2020:Govt may not provide any more tax incentives for the insurance industry
The official representative bodies of the domestic insurance industry like General Insurance Council and Life Insurnace Council in course of the their routine pre-Budget discussions with the tax authorities, have been told not to demand any more tax incentives for the industry as the scopes for such incentives currently are extremely limited because of poor mobilisations of the tax proceeds during year.
Budget 2020:Indian Life Insurance Industry
To drive greater insurance penetration, the Union Government should help build a roadmap that includes GST incentivization, advancing tax benefits to life insurance consumers and bring greater parity in terms of benefits between life insurance products and other investment avenues.