As per the list of Bills circulated with the members of Parliament...
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FM Sitharaman lays foundation for offices of 15 PSU banks, insurance companies in Amaravati
Sitharaman described the gathering of all major PSU banks and...
Life Insurance:Driving Product Innovation and Long-Term Sustainability
Along with changing customer needs, expanded datasets and...
Insurers seek zero-coupon bonds to manage long-term risks
Zero-coupon bonds could help insurance companies better manage their long-term liabilities, as they step up offerings of guaranteed savings products Mumbai: Indian insurers have asked the government to issue new sovereign debt instruments, including zero-coupon bonds,...
Health, life insurance premium to fall if GST Council decides to reduce taxes on premium: FM
Nirmala Sitharaman, Finance Minister "…The matter of review of GST rates on life and health insurance is pending before the GoM. If a recommendation for a reduction in GST rate is made by the GST Council, the cost of insurance to the policy holder is expected to come...
Insurance (Amendment) Act, 2024: Govt has no composite plans for LIC and PSU general insurance companies
To enable PSU insurers to avail composite licenses, the government needs to amend the two existing Acts- The Life Insurance Corporation Act of 1956 and the General Insurance Business (Nationalisation) Act, 1972 (GIBNA). But, no such provisions have been made in the...
Govt seeks to overhaul Indian insurance sector with extensive reforms measures
Insurers to be allowed to do certain other business, in addition to insurance business, enabling additional stream of revenue for insurers - like carrying of guarantee or indemnity business, managing and selling property possessed by company in satisfaction of claims,...
Finmin proposes to raise FDI in insurance to 100%, seeks public comments by December 10
According to an office memorandum dated November 26, 2024, it is proposed to amend certain provisions of insurance laws to ensure accessibility and affordability of insurance to citizens, foster expansion and development of the insurance industry, and streamline...
HDFC Life launches probe after customer data shared with “mala fide” intent
The company, in its statement, did not elaborate if the source had obtained the data by breaching the company's security, or what data was shared Mumbai: HDFC Life Insurance Company said on Monday that an unknown source shared certain customer data with the company...
Bandhan Life expands its strategic partnership with Bandhan Bank into Northern India
Bandhan Life has announced the expansion of its strategic partnership with Bandhan Bank into Northern India. This move is part of Bandhan Life's ongoing national rollout, following successful launch of operations in Eastern India. Customers across Delhi can buy...
RBI approves Central Bank buying stakes of Generali group’s Indian companies
The Reserve Bank of India (RBI) has approved state owned Central Bank of India's entry into the insurance business through a joint venture with Generali group under Future Generali India Insurance Company Ltd (FGIICL) and Future Generali India Life Insurance...
AM Best maintains outlook for global reinsurance industry to positive
Property reinsurance rates and terms have been relatively stable and are unlikely to soften in the coming months, owing to the hurricane activity during this year. Life insurance remains a good source of diversification for the large global reinsurers. The global...
No new Bill on insurance reforms in Winter Session of Parliament
Indian insurance industry is expecting legislative measures allowing 100 % FDI and launching new systems like composite license', differential capital', reduction in solvency norms', captive license, change in investment regulations, one-time registration for...