Some pricing and competitive pressures will arise, alongside weak...
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Swiss Re open to inorganic opportunities,says CEO Berger
“We are open to inorganic opportunities,” Swiss Re CEO Andreas...
Shalini Pandit,JS,DFS,replaces Goyal as part-time memeber in IRDAI board
Shalini Pandit, joint secretary,Department of Financial Services...
SEBI takes strict action in front running case, bars 9 entities, seizes over Rs 21 crore
The SEBI had investigated some suspicious front-running trades related to PNB MetLife India Insurance before this action.The focus of this investigation was to find out whether the suspicious entities were doing front running in the trade of PNB MetLife India...
GST Council exempts tax on insurers’ contributions to Motor Vehicle Accident Fund, defers any decisions on life and health covers
No decision was taken with regard to reduction in GST on insurance premiums as the GoM needed more time to study the issue. Many inputs are awaited including the one from insurance regulator IRDAI, Finance minister Nirmala Sitharaman ``It was felt any decision on...
GST Council to decide on insurance premium tax; major rate rejig unlikely
A final decision of the insurance taxation under GST is likely on Saturday as most states are in favour of lowering taxes on premium. New Delhi: The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance...
Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
"Bancassurance was a missing link in our structure and we have started exploring the possibility with IndusInd Bank and we are already in dialogue to strike a win-win deal for all stakeholders," Reliance Nippon Life Insurance CEO Ashish Vohra Mumbai: Reliance Nippon...
ICICI Pru Life Insurance launches women specific critical illnesses cover
ICICI Prudential Life Insurance has launched ‘ICICI Pru Wish’, a first-of-its-kind health product, in the life insurance industry, catering to women specific critical illnesses and surgeries. Developed in collaboration with Reinsurance Group of America (RGA), it...
Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says
Singapore's prime minister said in October that the city-state would block Allianz's bid The move would have lifted Allianz to fourth largest composite insurer in Asia, from ninth, but sparked critique in Singapore because of concerns that it would detract from a...
SBI Life launches cover providing guaranteed income and protection
SBI Life Insurance has launched ‘SBI Life - Smart Platina Supreme’; a non-linked, non-participating life insurance savings plan that offers seamless combination of protection and guaranteed pay-outs. The guaranteed income plan ensures long-term stability through its,...
LIC unclaimed maturity amounts reach Rs881 cr in FY24
As many as 3,72,282 policyholders did not claim maturity benefits during FY2024, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. During the previous year, he said, the amount worth Rs 815.04 crore belonging to 3,73,329...
PMJJBY life insurance: 21cr enrolment, 860,575 claims worth Rs 17,211.50 settled
The Pradhan Mantri Suraksha Bima Yojana(PMSBY) has seen a cumulative enrolment of 47.59 crore, while the cumulative number of claims received stood at 193,964, as of November 20. As per the official figures, the cumulative number of claims disbursed stood at...
Hinduja Group likely to complete RCap acquisition by Jan-End
"Most of the approvals and procedures related to the resolution process of Reliance Capital are complete. Couple of the procedures at the end of the administrator and CoC are to be completed. We hope that all these will be over in the next 4-6 weeks and RCAP should...