ICICI Prudential Life Insurance on Monday said it has come out with...
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Global microinsurance premiums touch $5.8 billion in 2023, cover only 15% of market: Report
The 2023 Study, drawing on from 294 insurers covering 1,040...
Proposed IPO of LIC to benefit insurance industry: Fitch
“We think the insurer’s investment allocation decisions will be rationalised too, as major investment decisions could be subjected to additional scrutiny and approvals. LIC is one of the prominent institutional investors in several public sector assets, and in multiple instances has obtained exceptions from the insurance regulator to increase its stake in investee companies above the regulatory ownership cap of 15 per cent,” it said.
G Srinivasan panel to examine if life insurers can sell indemnity based health products
General Insurance Council had been vehemently opposing the proposal.Even Kumar, chairman, LIC was not supportive of the idea of life insurers selling indemnity products.
Saudi Arabia’s regulator plans to raise capital requirements for insurers
-He declined to specify the new capitalization ratio but said it will be “definitely higher than the current one.”
-Asked about the economic impact of the global spread of a new strain of coronavirus, Alkholifey said it was “too early to assess.”
Axis bank may pick up 20%-30% stake in Max Life
Mohit Talwar, vice chairman, Max Group and Managing Director, Max Financial Services said, “The proposed long term partnership between Axis Bank and Max Life is a natural evolution of what has been a highly productive and mutually beneficial affiliation. It will infuse fresh impetus into the teams in both companies and will motivate them to serve customers effectively and efficiently. I believe that this will be one of the most value-accretive partnerships in the Indian life insurance industry. ”
No plans to make listing mandatory for insurers:IRDAI chief
“I would like to encourage companies to weed out products which are not selling and simply adding to the number, then they will be able to manage those products well,” chairman S C Khuntia said, adding that the plea was made at a meeting with chief executives recently”
AIA Singapore offers free COVID-19 coverage for its 1.4 million customers, employees and tied representatives
This special coverage includes a lump sum pay-out of S$1,000 for hospitalisation and covers death due to the coronavirus disease
No proposal to merge LIC Housing Finance with any other entity: LIC
-The statement came after some reports suggested that insurance behemoth LIC might expedite the process of merging LICHFL with its banking arm IDBI Bank.
-“There was absolutely no proposal to merge LICHFL with any other entity and all such rumours floating in the market are not based on facts,” LIC said in a clarification.
Chinese province launches insurance for businesses hit by coronavirus
“There are lingering concerns that the resumption of business operations will lead to more cases of coronavirus infection, and cause production to come to a standstill due to the quarantine policies,” according to the notice.
Association of stock brokers ANMI to mobilise 10 mn investors for LIC IPO
“It would be our endeavour to mobilise 10 million investors for LIC’s IPO and unlock the true potential of India’s crown jewel, akin the Saudi Aramco in the Middle East and Apple’s listing in the US,” Association of National Exchanges Members of India (ANMI) President Vijay Bhushan said.
6-7% LIC stake dilution enough to mop up ₹90,000 crore: CEA KV Subramanian
“There are legislative amendments required here in LIC. But I think this (LIC listing) is doable. LIC is a just a case of listing. I would think that about 6-7 per cent would be enough to get the entire ₹90,000 crore. I have done some back of the envelope calculations based on that… can say that just selling 6-7 per cent will be enough to mop up ₹90,000 crore,’