Fitch's sector outlooks for U.S. Life and U.S. P&C are ‘neutral’ Insurers’ investments to the failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure to the failed banks (comprising...
Life
China’s Ping An Insurance posts 17.6% drop in 2022 profit
“Household consumption recovery still faced many challenges, which continued to have an impact on Ping An’s long-term life & health protection insurance business,” it said. Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value,...
Govt unlikely to roll back tax plan on high-value life insurance, say govt officials
The move, which will come into effect for policies issued from April 1, has rattled insurers, with top company executives meeting Finance Minister Nirmala Sitharaman and finance ministry officials to petition them to reconsider the proposal. New Delhi: The Indian...
Govt clears appointment of 2 new LIC MDs, Jagannath joined on Monday
If IFSB decides to hold the interview for post of chairmanship of the corporation shortly then Siddath Mohanty, acting chairman, Mini Ipe,MD, M Jagannanth and Tablesh Pandey will be shortlisted as eligible candidates for the selection New Delhi/Mumbai The government...
Finance firms with $136 trln urge boards for more environmental data
For the first time, the questionnaire will also ask companies about plastics-related business risks, for example around packaging, and how they are addressing them The increase in demand for more information from companies comes as regulators across the world begin to...
LIC’s debt exposure in Adani group cos dips marginally to Rs 6,183 cr as of March 5
LIC's exposure in Adani Power (Mundra) was Rs 266 crore, Adani Power Maharashtra Ltd - Phase I (Rs 81.60 crore), Adani Power Maharashtra Ltd - Phase III (Rs 254.87 crore), Raigarh Energy Generation Ltd (Rs 45 crore) and Raipur Energen Ltd (Rs 145.67 crore), as per the...
Transforming Life: Tapping the new Normal
MR Kumar, Chiarman, Life Insurance Corporation The Indian life insurance industry needs to gear up for the coming prosperity and be ready with its products, distribution channels and processes to meet the demands of the new normal The entire life insurance sector has...
Siddarth Mohanty appointed as acting chairman of LIC
Siddhartha Mohanty, managing director, Life Insurance Corporation Mohanty is presently the senior most managing director of the country’s largest insurance company Recently, the Financial Services Institution Bureau (FSIB), has selected M Jagannath and Tablesh Pandey...
Analysis: China’s financial regulatory revamp raises hope, some concern over control
The watchdog, which will oversee all aspects of China’s $57 trillion financial sector apart from the securities market, should help reduce regulatory overlap especially at the level of local government, analysts say The new regulator will replace the banking and...
SBI Life declares interim dividend for its investors
SBI Life Insurance on Wednesday declared an interim dividend of Rs 2.5 per share for its investors for the financial year 2022-23. The declared interim dividend will be paid on or before April 6, 2023, to eligible shareholders. The record date is March 16, 2023. The...