Alok Rungta, Managing Director & CEO designate,Future Generali...
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LIC pays Rs 2,441 crore as an interim dividend to government
From (Lto R), Siddhartha Mohanty, chairperson handing over a cheque...
India’s rural-urban income gap declines sharply amid fall in poverty level: SBI Report
The states once considered laggards are showing the maximum...
LIC’s P&G Scheme achieves a record Rs 1 trillion prm income
The P&G of the corporation manages funds of well over Rs.7 lakh crores managing through approximate 80,000+ Gratuity, Superannuation and Leave Encashment Schemes.
Prudential Vietnam and SeABank establish exclusive bancassurance partnership
Prudential Vietnam will also become the preferred life insurance provider to BRG Group Joint Stock Company (“BRG Group”), a leading conglomerate in Vietnam with approximately 10 million customers. The partnership is expected to be effective from April 2020.
Many PSBs may exit insurance JVs in 2020 to raise funds
According to Finance Ministry estimates last year, PSBs will require Rs 1.8 lakh crore additional capital in the next four financial years. Of this, they will have to raise Rs 1.1 lakh crore from the market or via the sale of non-core assets. The ministry of finance earlier indicated that weaker banks will have to sell assets, reduce overheads, shut loss-making domestic and foreign branches and temporarily stop employee benefits, if necessary, in order to independently raise capital to meet the shortage.
China’s big bang opening of its $45 trillion financial industry, foreign life insurers can set up 100%-owned units
To kick off the new year, foreign insurers can apply to set up 100%-owned units offering life insurance, a segment that accounts for three-quarters of the Chinese insurance market. Joint ventures — of which ICBC-AXA Assurance Co. is the biggest — brought in 8% of the sector’s total premiums last year, but have not been growing as fast as domestic competitors, according to Fitch Ratings.
LIC pays Rs 2,611 cr dividend to govt for 2018-19
his is for the first time in LIC’s history that Valuation surplus has crossed Rs 50,000 crore, the insurer said in a statement.
“With increasing maturity, the FDI limits can be enhanced beyond 49%”
The life insurance industry is still under evolution in India and a higher FDI will bring in much needed capital into the picture, either to the life insurance industry, or release capital for other sectors of the economy.
Cardif’s sale of 5% of its stakes in SBI Life was illegal:IRDAI
However,the IRDAI said that In view of the submissions made by the Cardif during the personal hearing and their request for taking a lenient view, the IRDAI has granted post-facto approval to the said transaction of transfer
ACORD Names Top Ten InsurTech Leaders of 2019
“ACORD’s Top Ten InsurTech Leaders list features visionaries operating throughout the insurance value chain, from large, established incumbents to small startups. For real change to happen, we need long-time industry leaders and new players with fresh perspectives to work together,” said ACORD President and CEO Bill Pieroni.
Life insurers bat for 100% foreign investment in sector via automatic route
India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government increased FDI limit from 26 per cent to 49 per cent
Climate change has a significant impact on the liabilities of non-life insurers and reinsurers:EIOPA
Regarding climate risk, insurers and pension funds can play a key role in the transition towards a low carbon economy as major institutional investors, but this transformation carries significant investment risks as well. It is therefore crucial that both insurers and pension funds actively incorporate climate change risks in their own risk management frameworks.