Karni Singh Arha, managing director, BFHL, said, “ Given Bandhan’s...
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IFRS 17: Successful Strategies
It is important to note that IFRS 17 or Ind AS 117 do not alter the...
SBI Life Insurance launches 24×7 Helpline for NRIs
SBI Life Insurance launched an exclusive 24x7 Inbound Helpline for...
RBI keeps rates on hold despite economy fears
The six-member monetary policy committee (MPC) unanimously voted to hold the key repo rate at 5.15% while the reverse repo rate was also held at 4.90%.The RBI reiterated that it would maintain an accommodative stance as long as it is necessary to revive economic growth which slowed to 4.5% in the September quarter from 7% a year ago, to stand at its lowest in more than six years.
LIC removes convenience fee on credit card payments
Henceforth, all digital collections will be free of charges for customers. With this initiative, LIC’s valued policyholders can transact online seamlessly, free of charges. This facility of free transactions using credit card shall be applicable to and implemented across all collecting systems (Card less payment and card dip / swipe on Point of Sale machines).
LIC earns Rs14,000 cr of profit from equity investment till Nov15, improves market share
“Not only we have earned a profit of above Rs 14,000 crore from our equity investment , we have done a handsome business in terms of premium and policies during this fiscal up to November 15, 2019,” said TC Suseel Kumar, Managing Director, LIC adding that there is no slow down in the life insurance business..
Life insurers get more time for launching new products
The new guidelines applicable for traditional and ULIP products will change the surrender values and the sum assured of the policies.It will also ensure higher withdrawals in pension plans,freedom to take risks, invest in equities, flexibility to reduce premium, greater choice when buying annuities and lower life cover in Ulips
IRDAI consults DHFL administrator to decide the future of group’s 2 insurance subsidiaries
Mumbai: Changing its earlier stand, the insurance regulator Irdai has decided to talk to the administrator of insolvent Dewan Housing Finance Corp Ltd (DHFL) to frame its action plans on the two of its insurance companies, DHFL Pramerica Life and DHFL...
Aviva to retain China, Singapore businesses after conducting Asian review
London: Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market, Singapore. The firm will continue...
PSUs must be subjected to governance norms on par with pvt firms: CII
The suggestion is part of the Competitiveness Model developed by CII Research comprising six key elements to enable central public sector enterprises (CPSEs) to compete successfully in the global marketplace
Led by India and China,emerging Asia will power global growth:Swiss Re
The main engine of the global economy will be emerging Asia, with near 6% growth in both India and China. The contribution of insurance to resilience will be greatest in this region as well. In China, non-life premiums are forecast to grow by 9 per centin 2020, and life premiums by 11 per cent
Life insurance sector catching up in terms of innovation
“Improvements in customer and agent interfaces, automated underwriting, data mining and other techniques are starting to create changes in the life insurance industry,” said Terence Martin, a Director, Insurance Research at Conning
Govt not planning to help banks rescue DHFL: Report
DHFL’s creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors, and its a potential collapse could impact India’s already ailing banking sector and further weaken economic growth.