Siddhartha Mohanty, chairman Life Insurance Corporation(LIC)...
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Half- day holiday declared for PSU insurers on Jan 22
Public sector banks, insurance companies, financial institutions...
Innovation is key for achieving Insurance for all by 2047 : LIC Chief
Siddharth Mohanty, chairman, Life Insurance Corporation In the age...
RBI cuts repo rate by 25 bps, market expects more cuts
India Inc on February 7 cheered RBI’s move to slash key interest rate by 25 basis points and hoped it would encourage banks to lower lending rates, thereby stimulating consumption and investment demand to boost economic growth.
Japan insurers to target China M&A in new phase after $50 billion overseas push
Earlier,the overseas push by the Japanese insurers, , largely excluded China, the world’s No.3 insurance market after the United States and Japan, due to foreign ownership curbs and fragile diplomatic relations between the two Asian economies.That will change with China set to allow foreigners to own majority stakes in domestic insurance joint ventures, and Beijing and Tokyo looking to forge closer business ties amid rising trade tensions with Washington, the bankers said.
Insurance firms expect Interim Budget proposals to boost penetration
For the insurance industry, the schemes aimed at boosting farmers’ income and reducing tax outgoes for the middle-class will encourage consumption, while the plan to develop 1 lakh digital villages will boost digital infrastructure
PNB plans to dilute minor stake in life insurance JV
“In the DRHP (draft red herring prospectus), they (PNB) have chosen only to dilute a small percentage, they want to hold the substantial holding at more than 26 percent. So, therefore that signals you their intention,” said the company’s managing director and chief executive Ashish Srivastava
Nearly 50% cancer patients are uninsured, study
A majority of oncologists believe that cancer incidences are likely to increase by almost 25 per cent over the next five years. Breast Cancer is likely to account for a greater proportion of these incidences followed by Lung, Oral, and Cervical Cancers.
Insurers’ Wish-List for the Budget 2019-20
“We are hoping for positive tax benefits in the home insurance area as in the last year we have seen some major calamities and home insurance has certainly gained importance. We are also hoping for some regulatory framework in the healthcare/pharma industries to make insurance a reality for all in India”Rikhil Shah, Chief Financial Officer, SBI General Insurance
PolicyBazaar aims to collect Rs 3,500 crore premium in FY19
Policybazaar.com has backing from a host of high-profile investors including Softbank, InfoEdge (Naukri. com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital.
Why many Americans will never be able to retire
Some see this as a positive trend, because it adds to the economy. But others rightfully view it with trepidation, because there’s the distinct possibility that many of these elderly people just can’t afford to retire. Whether their nest eggs were wiped out in the housing crash, or they just didn’t save enough, or whether their kids don’t make enough money to support them, the decline of retirement seems like an ominous development.
LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI
“LIC, with its higher stake in IDBI Bank, is still an investor and not a promoter of the Bank as we will ask LIC to lower its stake in IDBI Bank from 51 per cent. We haven’t decided how much time we would allow LIC to lower its stake in IDBI Bank.,’’ said Nilesh Sathe, member, LIfe, IRDAI
Mathur Panel favours health insurance claim payments in installments
The IRDAI had constituted the Mathur panel as earlier,various general/ health insurance companies had proposed to provide an option for payment of claim benefits in respect of Personal Accident (PA)/ Benefit Based Health insurance policies in installments.