International broker Aon has promoted Neha Shah as to head its Life...
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Life Insurance: A must for every young professional
Many youngsters postpone this decision, assuming it’s something to...
Bajaj Group completes acquisition of 23% stake in insurance companies from Allianz for Rs 21,390 crore
Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv. The...
Premiums to fall as Govt finalises GST cut from 18% to 12 % on Term Life and Health cover with input tax credit(ITC)
On Tuesday, senior officials Ministry of Finance, Insurance Regulatory Development and Authority(IRDA) and insurers had met in Delhi to finalise the GST cut proposals before they are sent to GST Council, headed by Finance Minister Nirmala Sithraman that will take a...
LIC receives Rs 57.2 crore GST demand notice
The company has received a communication/demand order on Monday from Assistant Commissioner, Delhi regarding excess ITC availed, LIC said in a regulatory filing. New Delhi: Life Insurance Corporation of India (LIC) on Monday said tax authorities have slapped a demand...
With REL ownership, Burmans have now stakes in all 3 segments of Indian insurance industry
Burman Group, through its Dabur Invest Corporation, has already stakes in Aviva Life Insurance Company India Limited and Universal Sampo General Insurance New Delhi: After the Burman Group has taken control of Religare Enterprises Limited (REL), the holding company of...
100 pc FDI to help Indian insurance sector reach $222 billion by 2026
“However, it is crucial to understand the complexities of compliance management that companies face in this space. Insurers operate within an exceptionally complex compliance framework, with a typical general insurer managing over 4,500 regulatory obligations...
DFS Secy launches LIC’s new Pension plan
M.P. Tangirala, additional secretary, M. Nagaraju, secretary, financial services, Ministry of Finance, M Jagannath, managing director, LIC at launching ceremony of LIC's new Pension plan LIC’s smart pension plan is a non-par, non linked, Individual/Group, savings, and...
Sompo Holdings establishes global Property and Casualty (re)insurance, and Wellbeing business segments
Sompo Wellbeing will work as one group to create products and services addressing challenges related to health, financial stability after retirement, and nursing care needs. These are all prominent challenges in Japan due to the country’s ageing population and...
360 ONE Asset picks up 15% stake in Bharti AXA Life Insurance
Parag Raja, managing director and CEO, Bharti AXA Life Insurance, said`` with this partnership, we aim to further accelerate innovation, enhance our product offerings, solidify our service experience and further deepen our market presence. Together, we are poised to...
LIC unveils digital `one man office’ for its sales force
Siddhartha Mohanty, CEO & MD, LIC One Man Office (OMO), offered through the ANANDA (Atma Nirbhar Agents New Business Digital Application) platform, is a mobile digital office at the hands of sales force and an easy-to-use one stop solution for all business and...
Aviva India fined $7.5 million by Income Tax authorities for fake invoice scheme
After hearing Aviva's defence, joint tax commissioner Aditya Singh Yadav ruled the company evaded tax of around Rs 32.6 crore ($3.8 million), which it must pay with a 100 per cent penalty, totalling Rs 65.3 crore, or $7.5 million, according to a February 5 order...
Bima Vahak’s portal is ready for soft launch in April, says IRDAI
The implementation of Bima Sugam is going as planned and is now ready to be capitalized by Indian insurers, said the IRDAI Hyderabad: The unveiling of of IRDAI’s game changing move Bima Sugam might have been delayed but the portal for Bima Vahak’s, the localised...