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Axis Bank says all regulatory nods received for proposed acquisition of shares in Max Life Insurance
Axis Bank proposes to infuse Rs 1,612 crore in Max Life Insurance....
Apr1 Renewals: New reinsurance opportunities in Indian market
In contrast to last year’s renewal, 4/1 saw a resurgence in...
AXA insurance launches first-in-market plan for Cancer survivors
Sean Goh, Managing Director, Life, AXA Insurance Singapore said, “Many cancer survivors are left without any insurance coverage after their first diagnosis and do not have the security of a financial safety net if cancer strikes again. We want to take away this uncertainty by protecting them financially should they be faced with cancer again, so they can focus on treatment and recovery. This is part of our commitment to support our customers across their entire health journey and to empower them to live better lives.”
dacadoo announces global partnership with Swiss Life Global Solutions
dacadoo’s comprehensive digital Health Engagement Platform motivates users to achieve and maintain healthy lifestyle habits. The digital user journey is optimized to engage clients of Health & Life Insurers, and it is delivered through mobile apps and a web app built in responsive design. It combines motivational techniques derived from behavioral science, with functions from online gaming and social networks that involve users in their holistic health – body, mind and lifestyle
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.