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NCLT approves Hinduja Group firm IndusInd International Holdings’ resolution plan for Reliance Capital
However, no final decision on the matter can be taken by the...
Aegon Life acquired by Bandhan Financial Holdings
Karni Singh Arha, managing director, BFHL, said, “ Given Bandhan’s...
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.
IDBI Federal Life reports a net profit of Rs 133 cr , up 31 per cent in during FY19
Speaking on the company’s performance during the year, Mr. Vighnesh Shahane, MD & CEO, IDBI Federal Life Insurance said, “In FY2018-19, with a tight control on costs, a focus on underwriting and a leaner organisation, we have been able to serve our customers better which has resulted in improved scores on most parameters. We also implemented a slew of digital initiatives which enhanced the customer experience and helped bring in further efficiencies across our distribution channels.”
IRDAI to unveil Risk Based Capital & Supervision soon:Khuntia
IFRS 17, he informed, has been postponed to 2022 globally. India has also postponed its introduction, but IRDAI needs the help and cooperation of insurers during the preparatory phase prior to its introduction.
Standard Life off-load 1.78% stake in HDFC Life for Rs 1,404 crore
Mumbai: Standard Life (Mauritius Holdings) will off-load 1.78 percent stake in HDFC Life Insurance Co for Rs 1,404 crore beginning on May 3. The sale will be undertaken in two slots -- non-retail investors on May 3 and for retail investors next week....
FDI in insurance industry can be raised to 74% over next 5-10 yrs, Sathe
He enlisted increasing penetration, avoiding mis-selling,increasing sum assurance through sale of term plans and designing products easy for sale, are the main issues of the life insurance industry
Max India exploring new lines of businesses after divesting healthcare and health insurance
Max Group’s sponsor Singh , who has increased his involvement in Max India by taking on the mantle of chairman, is looking to start afresh in Advaita by venturing into 1-2 new business areas, which will have adjacencies to the group’s latest focus areas of life insurance, real estate, senior care and lifestyle.