Indian insurance regulator IRDAI has imposed a fine of Rs one crore...
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LIC leads $703mn NSE anchor book
LIC, NSE’s largest shareholder, emerged as the biggest anchor...
Ind AS:11 re/insures switch to new accounting system, says IRDAI
The insurers that have been granted forbearance and are scheduled...
Insurance sector set for stronger year as life, health insurers post robust growth: Kotak
Non-life insurance growth is likely to remain moderated as weakness in commercial segments, particularly fire insurance, weighs on overall premiums, according to Kotak Institutional Equities New Delhi: India's non-life insurance industry is expected to see continued...
LIC gets RBI nod to raise stake in HDFC Bank to nearly 10% from 4.11%
The approval would give LIC the option to significantly increase its ownership in the private sector lender, subject to the applicable regulatory and statutory requirements Mumbai:Life Insurance Corporation of India (LIC), India's largest insurance company, has...
Prudential gets CCI nod to acquire 75 pc stake in Bharti Life Insurance
In May this year, UK-based Prudential plc announced that it would acquire a majority 75 per cent stake in Bharti Life Insurance for Rs 3,500 crore from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management. New Delhi:Fair trade regulator CCI on Tuesday cleared the...
AI could cut cost of running insurance by eliminating repetitive work: Report
"AI is helping insurers analyze documents and identify missing information before a human ever becomes involved. And importantly, it is not replacing insurance professionals. Instead, these systems are removing repetitive administrative work so employees can focus on...
Savings bank a/c holders of scheduled banks can opt for rural postal life insurance
"With immediate effect, an operative Savings Bank Account with POSB or any Scheduled Bank is now an additional eligibility criterion for Rural Postal Life Insurance (RPLI)," Minister of State for Communications Pemmasani Chandra Sekhar said on X. New Delhi: The...
Q1FY 27: GIC Re net profit rises 10% to Rs1922 cr, prm soars 9% to Rs13,475 cr, Combined ratio improves 2.06% to 104.88%
``Our premium growth has came from Health, Life Re and Surety portfolios. We are committed to disciplined underwriting, particularly Fire and Engineering. Fire segment continues to witness intense competitive pressures at both the insurance and reinsurance levels,...
Life Insurance:Protecting India’s rising aspirations
For India's semi-urban and rural households, life insurance is not merely a financial instrument; it is a means of preserving dignity and safeguarding aspirations. It empowers families to face adversity with greater confidence, knowing that years of hard work and...
Life insurers’ new business premium rises 21% in July, retail growth remains mixed
According to provisional data from the Life Insurance Council's Detailed New Business Performance of Life Insurers for the Period ended Jul-26, group single-premium collections rose sharply to Rs 27,857.01 crore in July from Rs 21,280.53 crore a year earlier, an...
LIC reports 23% jump in its net profit to Rs 13,492 crore in Q1FY27
R Doraiswamy, CEO & MD, LIC, said,“The numbers are good this quarter, but if you look at the growth in premium or APE, it is not as high as what you would have expected.What gives us more happiness is that our VNB has grown by 61 per cent plus and our VNB margin...
Govt kept investment bankers in dark on LIC’s unusually fast $3.3 billion OFS deal
Officials in the state divestment department kept the launch date a secret to prevent traders from taking positions ahead of the sale and pushing the stock lower before the government could sell its shares, according to people familiar with the matter. Even the banks...