Creates a new unit, Business and Client Services (BCS), to...
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ICICI Pru Life’s net profit dips to Rs 295.8 crore in Q2FY26
The life insurer's Value of New Business (VNB) improved marginally...
IRDAI tightens fraud control measures for re/insurers and distribution partners, to be implemented from next Apr 1
All insurers have to share with Insurance Information Bureau (IIB)...
TPA Consolidation: Medi Assist to acquire Fairfax-backed Paramount Health Services & Insurance TPA for Rs 311 cr
Paramount TPA is owned by Nayan Shah family and Fairfax Asia, which had picked up 51 % in the company in 2020 With the acquisition of Paramount TPA, Medi Assist TPA market share will grow to 36.6% for the group segment and 23.6% of the health insurance industry, by...
Reliance Cap lenders raise concerns over Rs 7,300 cr debt term sheet offered by IIHL
The committee of creditors (CoC) has expressed concerns that bankers to IndusInd International Holdings Ltd (IIHL) have imposed numerous conditions for offering Rs 7,300 crore debt and some of these conditions can only be met by IIHL after the resolution plan has been...
Insurance for All by 2047: Working groups among stakeholders formed to strengthen and implement strategies, says IRDA
Participants in "Insurance for All" Vision Meet, hosted by insurance councils over two days on August 23rd and 24th, 2024, in Mumbai, explored the necessity of diversifying insurance products and providers to better reflect the diverse demographics of India. Expanding...
Tata AIA Life announces a new term insurance ‘Sampoorna Raksha Promise’
Tata AIA Life Insurance, has announced a new term insurance ‘Sampoorna Raksha Promise’ that comes with innovative features and benefits. Keeping in mind that the family may have to incur urgent expenses on the demise of the key member, it offers instant payout of Rs....
SBI Life gets GST demand notice of Rs 239 crore
SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20. The company has received an order for interest and penalty from the Deputy Excise...
IRDAI, insurers and IIM-Kozhikode organise 3-day strategic meet in Mumbai from today
Debasish Panda,chairman, IRDAI Recently, IRDAI chairman Debasish Panda had led a team of CEOs of Indian insurance industry including reinsurers (Foreign Reinsurance Branches) to some of the European countries and had met the top officials of large re/insurance...
Disruptive moves: Indian Insurers must modernize core platforms to meet competition and evolving customer expectations
Swayamjit Mishra, Managing Director & Partner, Leads Technology in Insurance for BCG India, said, “The obvious & disruptive moves by insurers have been made, now winners will take the more difficult and bold step of attacking the core. The aim with the core is...
SBI Life acquires 7.75 lakh shares of Krishna Institute of Medical Sciences at a price of Rs 184 crore
SBI Life Insurance has acquired an additional 7.75 lakh shares of Krishna Institute of Medical Sciences (KIMS) at a price of Rs 184 crore through open market transactions, as reported on Tuesday. According to data from the BSE, SBI Life Insurance Company purchased...
LIC sells 2.09% in Hindustan Copper
Life Insurance Corporation of India (LIC) on Monday said it has sold a 2.09 per cent stake in state-owned Hindustan Copper for Rs 447 crore through an open market transaction. The insurance behemoth has sold a total of 2,01,62,682 shares, or 2.085 per cent stake, in...
Court not super regulator says HC on Swamy’s plea against Axis-Max transaction
In his petition, Swamy alleged Axis Bank made undue profits totalling Rs 4,000 crore from the sale and purchase of equity shares of Max Life in a non-transparent manner and in violation of the applicable regulations New Delhi: Stating that it should not act as a...