Max Life Insurance Company has appointed of Sumit Madan as senior...
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LIC shares cross Rs 1,000 mark, GIC re touches issue price of Rs 433 for the first time
The shares of New India Assurance(NIA) also rose almost 10 per cent...
IRDAI asks insurers to put in place Climate Risk Management framework by Apr 1
As part of the Board’s internal governance practices, the Board has...
Aviva overhauls UK business, to cut 1,800 jobs
According to the statement, Aviva intends to reduce its expenses by cost savings in contractor and consultant spend, reduction in project expenditure and other efficiencies. This will involve approximately 1,800 role reductions across the group over the next three years, out of a total workforce of around 30,000.
Dell, Jeep, LIC most-trusted brands in India: Report
Aviva Life Insurance, Maruti Suzuki and State Bank of India are placed on eighth, ninth and tenth positions, respectively, in the brand trust report.
Max Financial net profit down 30% to Rs 391 cr in FY19
New Delhi: Max Financial Services (MFS) May 28 reported a 30 per cent fall in consolidated net profit to Rs 391 crore for 2018-19. The net profit was lower compared to the previous year, largely due to one-time expenses for pursuing an inorganic opportunity for...
Decisive NDA mandate raises expectation of a higher pace of economic reforms
According to the analysts,the first priority of the government is rural development to ease farm stress through the development of rural infrastructure (roads, housing etc) and boost farm income and infrastructure spend, address agricultural distress, and encouraging employment.
Nigeria more than triples insurers’ capital Requirements
Insurers wanting to combine life and property and casualty businesses are required to have capital of at least 18 billion naira ($50 million), up from 5 billion naira, while the minimum for property and casualty business is 10 billion naira compared with 3 billion naira. The requirement for life insurance is 8 billion naira versus 2 billion naira and that for reinsurance is 20 billion naira compared with 10 billion naira.
IDBI Bank emerges as LIC’s no 1 bancassurance partner
LIC has registered a market share of 74.71 per cent in number of policies and 66.24 per cent in first year premium income for the year 2018-19 and achieved the highest ever first year premium income of Rs 1,42,191.69 crore.
IndiaFirst Life net rises 20% to Rs 62 crore in FY19; total premium crosses Rs 3,200 crore
“With the parent group, Bank of Baroda becoming the third-largest bank in India, and with the private equity firm Warburg Pincus, buying out erstwhile partner Legal and General’s stake, we are poised for the next phase of growth,” R M Vishakha, managing director and chief executive officer, IndiaFirst Life.
BoI to sell 25.05% stake in its life insurance joint venture
In its request for proposal (RFP), the bank said it is proposing to sell 6.48 crore equity shares which amounts to Rs 1,106 crore.While BoI has a 28.96 per cent stake in the life insurance joint venture, Union Bank of India and Dai-ichi Life has 25.10 per cent and 45.94 per cent, respectively.
Brexit boom lifts Luxembourg insurance sector
Premiums in the non-life sector, including domestic business, jumped by 218 percent year on year thanks largely to the licensing of firms establishing bases in Luxembourg after the United Kingdom’s decision to leave the European Union, Luxembourg’s CAA said.
IRDAI asks insurers to expedite “Cyclone Fani’ claims
The regulator wants insurers to report the claims settled for the cyclone related deaths in Odisha and neighbouring states ona daily basis.