With a brand strength index score of 88.3, another Indian life...
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Regulatory Revamp: IRDAI approves Bima Sugam, unveils 8 new principle-based consolidated regulations
Debasish Panda, chairman, IRDAI These new regulations encompass...
LIC terminates services of its employee in front-running trades case
Sebi on Tuesday confirmed a securities market ban on five entities,...
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.
IRDAI to get two full-time members soon
The particulars of the post and eligibility conditions and details related to the application process are given on the Ministry’s website http://financialservices.gov.in/ and IRDAI’s website https://www.irdai.gov.in/.
Govt appoints Raj Kumar and Gupta as MDs of LIC
The Bureau of Banking Board(BBB), an exclusive body to choose the CEOs of public sector banks and insurance companies, on Aug 27,. had conducted the interviews of senior officialsof the LIC and public sector general insurance industry, for selecting CMDs of GIC Re , Agriculture Insurance Company(AIC) and two MDs of LIC and had selected Raj Kumar and Gupta as the MDS of LIC and Devesh Srivastav and Malay Podday as the CMD of GIC Re and AIC respectively.
Standard Life sells 5% stake in HDFC Life for Rs 5,750-cr
At the end of the September quarter, Standard Life held 19.69 per cent stake in HDFC Life, while the other promoter Housing Development Finance Corp Ltd (HDFC) owned 51.47 per cent, as per shareholding data on BSE.
$4.36 bn deployed in InsurTech cos across 239 transactions in first 3 qtrs
Dr Andrew Johnston, Global Head of InsurTech at Willis Re, says: “The continuing rise in InsurTech investment acknowledges the enormous role technology has to play in our industry, but we need to avoid becoming a sector jaded and frustrated by it. Today’s InsurTech is as much about hype and entrepreneurial culture as it is about appropriate technology for the (re)insurance industry.
Number of crorepati taxpayers up 20% to 97,689 in AY 2018-19: CBDT data
In all, more than 5.87 crore income tax returns were filled, as per the statistics generated from e-filed returns (digitally signed, e-verified or where ITRV has been received) submitted up to August 15, 2019.
Life insurers to launch a Rs100 cr ‘Sabse Pehle Life Insurance’ awareness campaign
The total cost of the awareness campaign would be around Rs 100 crore, said sources where the state owned Life Insurance Corporation is contributing the almost Rs 40 crore,
Fundamental changes to insurers current model unavoidable:WITR 2019
The roadmap to the future requires insurers to break internal silos, seamlessly connect with ecosystem players, and become inventive. Inventive Insurer competencies cover intelligent processes, open platforms,customer centricity, and an innovative corporate mindset, according to WITR 2019 research and analysis.
IRDAI slaps Rs 15 lakh penalty against Shriram Transport Finance
“Even the submission of the insurer clearly indicates that in majority of cases, involvement of SP is negligible during solicitation of business and hence the CA is engaging unlicensed persons for soliciting business,’’ said IRDAI in its penalty order.