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Bajaj Life Insurance to apply for Pension Fund Manager and GIFT City licences
Tarun Chugh, MD & CEO, Bajaj Life Insurance, said, “The Board’s...
LIC’s net profit rises 17% to Rs12,930 cr Q3FY25
R Doraiswamy, CEO & MD, LIC R Doraiswamy, CEO & MD, LIC...
Insurance nominations can’t override personal succession laws: Karnataka HC
Justice Anant Ramanath Hegde ruled that a nominee can receive the insurance benefits only if the legal heirs do not claim them. If a legal heir asserts their right, the nominee's claim must yield to personal succession laws Bengaluru: In a crucial ruling, the...
IRDAI issues norms allowing insurers to use derivatives for hedging their equity portfolios
In line with these guidelines, insurers will be able to buy hedges in stock & index futures and options against their holding in equities subject to the exposure and position limits. The equity derivatives shall be used only for hedging purpose. Any OverThe...
LIC receives GST demand notice of Rs 479.88 crore
The company has received a communication/demand order for interest and penalty for Maharashtra on February 27 from Deputy Commissioner of State Tax, Mumbai, LIC said in a regulatory filing Mumbai: Life Insurance Corporation of India (LIC) on Thursday said it has...
Hong Kong’s Peak Re receives license to open office in GIFT-IFSC
Peak Re, the fourth reinsurer to get a license, has a total global business of $1.75 billion. It has already developed a major Indian portfolio, largely constituting Crop and Property, as a Cross Boarder Reinsurer(CBR) and gearing up to expand it further in the...
NCLT asks RCAP lenders to complete all procedural issues by Mar 12
An IIHL spokesperson said that IIHL voluntarily offered to release Rs 2,750 crore in equity capital into Reliance Capital's account to demonstrate its commitment to completing the transaction. The tribunal accepted the proposal Reliance Capital has three insurance...
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...