Finance minister Sitharaman, while speaking in the Lok Sabha, said,...
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Sithraman tables Insurance Amendment Bill, 2025 in Lok Sabha
Nirmala Sitharaman,Union Finance Minister "We want the regulator...
HDFC Bank gets RBI approval for up to 9.5% stake in IndusInd Bank
In an exchange filing on Monday, HDFC Bank said that several of its...
Exclusive cooperative insurance firm on anvil, to provide coverage to all cooperative societies in country: Amit Shah
Amit Shah, Union Minister of Home Affairs and Co-operation To further strengthen the cooperative sector in India, Shah said, a cooperative insurance company will be set up soon that will provide insurance coverage to all cooperative societies in the country. He exuded...
Wipro awarded £500m deal from UK insurance giant Phoenix Group
As per the deal, Wipro’s existing FCA-regulated entity Wipro Financial Outsourcing Services Limited (WFOSL) will deliver comprehensive life and pension administration services to Phoenix Group’s ReAssure customers Mumbai: IT services company Wipro on Wednesday (26)...
Federal Bank increases its stake in Ageas Federal Life Insurance by 4% to 30 %
Federal Bank has increased equity stake in Ageas Federal Life Insurance(AFLI) by four per cent to 30 per cent. Jude Gomes, MD & CEO, Ageas Federal Life Insurance, said, “We welcome this step by Federal Bank, which reflects the continued trust and confidence in our...
Insurers demand longer term assets to fund Govt’s Rs29.7 lakh crore debt pile
The finance ministry has set a record target of Rs 2.5 trillion of debt to be swapped for the fiscal year starting April 1. With the insurance sector expanding at 12%-13% annually, the goal is within reach, according to Vidya Iyer, head of fixed income at ICICI...
Tata AIA’s Swaminathan S. Iyer appointed as Member, Life, IRDAI for 5 yrs
Swaminathan S. Iyer, Member-designate, Life, IRDAI ``The Appointments Committee of the Cabinet (ACC) has approved the Swaminathan to the post of Whole Time Member (Life), Insurance Regulatory and Development Authority of India (IRDAI) for a period of five years from...
Underinsurance Survey 2025: Shifting life insurance trends
Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance The survey by Bajaj Allianz Life Insurance, in collaboration with NielsenIQ, reveals a significant shift in life insurance trends, with the average age of first-time buyers dropping from 33 to 28 years. Family...
India’s financial system resilient, diverse: IMF report
The report observed that India's insurance sector is strong and growing, with a significant presence in both life and general insurance. The sector has remained stable, supported by better regulations and digital innovations New Delhi: The Indian financial system has...
Bajaj Finserv shares slip over 4 pc in 6 months amid insurance deal
Bajaj Finserv will spend Rs 13,780 crore to acquire the general insurance business and Rs 10,400 crore for the life insurance arm Mumbai: Shares of Bajaj Finserv continued to decline on Friday by falling 0.53 per cent during intra-day trade to Rs 1,842 on the National...
LIC dispels Rahul Gandhi’s concern over new IRDAI rules making insurance unaffordable for poor and affecting agents
“ We want to clarify that LIC has introduced products that align with the New Product Regulations set by IRDAI, effective from October 1, 2024, keeping policyholders’ interests at the forefront .” said Siddhartha Mohanty, CEO & MD, LIC Kumud Das New Delhi/Mumbai;...
Need safeguard measures before raising FDI limit to 100 pc in insurance: Par Panel
Bhartruhari Mahtab,chairman, Standing Committee on Finance The Committee would like to emphasise the need for some safeguard measures to be in place to counter concerns like profit repatriation i.e. foreign investors sending earnings back to home countries rather than...