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LIC, GIC Re and New India continue to be Domestic Systemically Important Insurers(D-Slls) in 2023-24:IRDAI
D-Slls refer to insurers of such size, market importance, and...
IRDAI seeks detailed clarifications on Hinduja group’s plan to take over Reliance Capital
It is also proposed by Hinduja group to raise borrowing for...
Postmen, grameen dak sevaks may soon start selling insurance policies
“These postmen and grameen dak sevaks will be operating largely in un-banked and under-banked geographical areas and can provide the last mile reach to sell insurance products in remote and rural areas,” Irdai said.
U.K. investment firm Centricus forms insurance venture with Ex-Goldman partner
Centricus is targeting for the business to manage about $100 billion of assets under management for the unit and is already scouting for deals in Europe, co-founder Dalinc Ariburnu said in a phone interview Thursday.Centricus is seeking to replicate the model that Apollo Global Management Inc. created with Athene Holding Ltd., Ariburnu said.
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