Following the merger, Shriram Financial Ventures (Chennai) Pvt Ltd, which was the holding company of Shriram Capital Ltd, would now become the promoter and holding company of the financial services and insurance businesses of the group Chennai: Shriram Capital Ltd,...
Life
IRDAI proposes single management expense limit for insurers
It also proposed that there should be no variable pay to Managing Director (MD), Chief Executive Officer (CEO), Whole-Time Directors (WTD) and Key Management Persons (KMPs) for the financial year in which the actual expenses exceed the projected expenses by more than...
SAT upholds IRDAI’s rulings against Go Digit on combi product
IRDAI after examining Go Digit’s “Digital Group Total Protect Policy” filed under `Use and File’ norms had asked the company to withdraw the product as some of its features fall under life insurance products and can’t be offered by a general insurance company...
Chubb receives regulatory approval to increase its Huatai stake to 83.2%
"China is currently the second largest insurance market after the United States. With an aging and more affluent society comes the growing demands for insurance and asset management products and services. We take a long-term view, and I am confident Huatai will grow...
MP: Youth kills father for Rs 10 lakh insurance money in Barwani, arrested
When the police team check the CCTV footage and cyber reports, they grew suspicious and interrogated the people concerned then it came to light that Anil along with three others hatched a conspiracy to kill his father Barwani, Madhya Pradesh: A youth hatched a...
InsuranceDekho partners with LIC
Insurtech InsuranceDekho has partnered with Life Insurance Corporation of India (LIC) to sell the corporation's products on its platform. Ankit Agrawal, CEO, and Co-founder, InsuranceDekho, said, “We will leverage the best technology, POSP partner practices, and...
PFRDA appoints Suraj Bhan as chairman of NPS Trust
PFRDA has onboarded Shriram Life Insurance Company (SLIC) as the annuity service provider for the NPS scheme. The empanelment will help the insurance company manage the annuity component of the maturity proceeds under the National Pension System (NPS), SLIC said in a...
LIC’s move to sell Reliance Capital’s debt to ARC upsets lenders, bidders
LIC's timing and pricing of selling its Rs 3,400 crore debt of RCAP debt have raised eyebrows. Bidders have alleged a conflict of interest in the sale of LIC debt to ACRE, as both ACRE and LIC are members of RCAP's COC. ACRE has an exposure of Rs 1,350 crore in RCAP...
Aditya Birla Capital, Nippon Life talks fail on merger
Sources said Nippon Life stake would have been diluted to below 10 per cent following merger and Japanese firm is believed to be not comfortable with the idea of losing all the shareholder and the governance rights. Mumbai: Talks between Aditya Birla Capital and...
LIC shares rally over 9 pc as Q2 net zooms multifold
A 27 per cent jump in premium income and massive gains from changes in its accounting policy along with investment income helped the national insurer LIC on Friday report a multi-fold jump in net income at Rs 15,952 crore in the July-September quarter, from Rs 1,434...