For LIC, this is second time in recent years large IT refund has...
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HDFC Life Q3 profit rises 16% to Rs 365 crore
Vibha Padalkar,MD & CEO, HDFC Life On the Irdai plans to...
Max Life ventures into the United Arab Emirates
Prashant Tripathy, CEO and Managing Director, Max Life said “ With...
HDFC Life net at Rs 913 cr, up 20 %, in Apr-Dec
Vibha Padalkar, MD & CEO said “We continue to grow faster than the industry and sustain our leadership position on profitability. Our commitment towards diversification, both in terms of product mix and distribution, has helped us withstand macro as well as regulatory headwinds. We believe that our focus on the three tenets of protection viz. mortality, morbidity and longevity, coupled with our aspiration of being the leading digital life insurer in India, will enable us to make the most of the long term growth potential of the life insurance industry.
LIC completes acquisition of 51% stake in IDBI Bank
“The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies,” IDBI Bank said in a BSE filing
MoF shortlists four names for LIC chairmanship
The senior officials of the LIC who have been shortlisted are M R Kumar Zonal Manager(ZM), Delhi, Vipin Anand Zonal Manager, Mumbai, TC Suseelkumar, ZM, Hyderabad, Raj Kumar CEO, LIC Mutual Fund
World’s oldest man dies in Japan at 113
Japan has one of the world’s highest life expectancies and was home to several people recognised as among the oldest humans to have ever lived. They include Jiroemon Kimura, the longest-living man on record, who died soon after his 116th birthday in June 2013. The oldest verified person ever — Jeanne Louise Calment of France — died in 1997 at the age of 122, according to Guinness
SBI Life’s net profit rises 15% to Rs264 cr in Q3 FY2018-19
The new business premiums collected in Q3 grew 14.6 percent YoY to Rs 2,734.49 crore while the renewal premium during the period increased to Rs 5,270 crore, up 35 per cent over Rs 3,904 crore in Q3 FY 2017-18
Max Life Insurance to pay death claims up to Rs 50 Lakhs in just 1 day
In FY 2017-18, the company received total 10,332 individual death claims and has paid 10,152 individual death claims amounting to Rs. 353 crore, while only 178 death claims were rejected primarily because of medical non-disclosures and only two cases were pending due to ongoing investigation.
There may be no tax on income up to ₹500,000
Budget may also reinstate tax-free status for medical expenses and transport allowance, providing some relief to the section already under strain since demonetisation
New life premium mop-up inches up 2.41% in December
The state-run behemoth LIC led both in new business premium collection with a 66.49 percent market share and also new business by policies with a 73.33 percent share of the pie
LIC loses over 2 % market share to pvt players in 2017-18
For the Indian life insurance industry,while renewal premium accounted for 57.68 percent (58.13 percent in previous year) of the total premium received by the life insurers, new business premium contributed the remaining 42.32 percent (41.87 percent in previous year).
Surrender of life insurance policies rise in 2017-18, IRDAI
The life industry paid benefits of Rs 277953.63 crore in 2017-18 (`Rs 236339.87 crore in 2016-17) constitutes 60.58 percent of the gross premium underwritten (56.48 percent in 2016-17).