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Indian insurance industry receives Rs 54,000 crore FDI since December 2014: DFS Secy Joshi
Financial Services Secretary Vivek Joshi said that the Assets Under...
Banks asked to check mis-selling of insurance products, safeguard account holders’ interest: DFS Secy
Vivek Joshi ,Financial Services Secretary Banks have been...
Anil Ambani’s Reliance Capital completes 21.54% stake sale in mutual fund arm
The company will further monetise its balance 4.28 per cent stake in Reliance Nippon Life Asset Management (RNAM) worth Rs 700 crore
HDFC Life launches pre-approved product
INSTAInsure is an end-to-end digital journey that enables a partner’s customers to purchase a life insurance policy in a quick and hassle free manner. Through the power of INSTAInsure an existing customer of any of HDFC Life’s partners can purchase a policy instantly, in just 3 clicks. The policy issuance is done almost instantly.
SEBI pulls up SBI Life for not complying with minimum public shareholding norms
“The company and BNP Cardif may note that the dilution of shareholding beyond the permissible limit is not in compliance with provisions of the said circular and hence, such dilution would not be counted towards achieving MPS threshold,” SBI Life said in a regulatory filing quoting the letter of Securities and Exchange Board of India (SEBI).
Reliance Capital’s stake sale to Nippon Life to be completed by month-end
Reliance Capital Ltd, the financial services arm of Anil Ambani-led Reliance Group, has interests in life, health and general insurance, commercial as well as home finance, stock broking, wealth management services, among others.
Regulatory Sandbox a win-win position for regulators and Start-ups:IRDAI
Banarji, urged insuretech firms to use the facility to test new products and services and added that IRDAI will start receiving applications under regulatory sandbox from 15 September to 14 October 2019
LIC western zone sets 11% growth in new premium mop-up in FY20
“For the current year, we have a target of selling 39.75 lakh policies or a premium collection of Rs 11,375 crore. We have already sold 9,75,000 policies with a total premium of Rs 4,600 crore in the first five months of the fiscal,” zonal manager C Vikas Rao told reporters.
Global reinsurance market to see consolidation, product & service innovation:S&P
S&P Global Ratings believes that these factors will continue to push the sector to evolve, forcing market consolidation, product and service innovation, expansion of product offerings, and reimagining of the re/insurance value chain. Indeed the market may look different, but it could be a long time before the competitive landscape changes.
Hurricane Dorian slams Bahamas, Florida,expected industry losses range between $11.3bn to $37.2bn
Industry loss estimates are currently sitting in a range from $10 billion to as much as $25 billion (perhaps even $30 billion according to some new runs we’ve seen), which aligns with these analogue storms RMS has highlighted
Bancassurance landscape to see changes after merger of 10 PSBs to change the country’s
At least three insurance companies —Star Union Daiichi, Canara HSBC OBC Life Insurance and India First Life Insurance — could witness a change in their ownership structure because of the bank mergers, but that may probably give these firms a better reach to build their businesses with extended branch network.
LIC settles 259.54 lakhs of claims amounting to Rs1,63,104 cr in 2018-2019
During 2018-19, the LIC has registered a growth of 5.68 per cent in the new business in terms of the first year premium. The total first year premium amounted to Rs1,42191.69 crore at the end of March, 2019 capturing 66.24 per cent of market share.