26 private sector life insurers have gained market share over LIC...
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Tata AIA crosses Rs 1 lakh cr AUM
Tata AIA Life Insurance has crossed Rs. 1 lakh cr in assets under...
ICICI Pru Life’s net declines 26% to Rs 174 crore in Q4 FY24
Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance The...
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.
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