"For term insurance, GST exemption could result in notable cost...
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Insurance stocks in limelight as life and health insurance exempt from GST
Shares of Star Health and Allied Insurance Company skyrocketed 9.35...
New India to pass on maximum benefit of 18% GST exemption to retail Health Insurance customers
``As India’s most trusted insurance partner, New India Assurance...
Household savings are choosing mutual funds, insurance and pension funds over banks to invest savings: RBI Governor
``While bank deposits continue to remain dominant as a percentage of the financial assets owned by the households, their share has been declining, with households increasingly allocating their savings to Mutual Funds, Insurance Funds, and Pension Funds" New Delhi:...
LIC ties up with IDFC First Bank for bancassurance
LIC has tied-up with IDFC First Bank, under corporate agency arrangement. This tie-up will facilitate more than 1 crore customers of IDFC First Bank who will now be able to buy LIC policies through the bank. The partnership will have a combined strength of a vast...
Allianz eyes 51% of Singapore’s Income Insurance with $1.6 billion offer
Allianz said the deal will turn it into the fourth-largest composite insurer in Asia, adding a household name in Singapore that distributes a full range of life and non-life products. Chief Executive Officer Oliver Baete, who is expected to outline new financial...
Robust economies set to drive global insurance growth and profitability, says Swiss Re
Jérôme Haegeli, Group Chief Economist, Swiss Re Jérôme Haegeli, Swiss Re's Group Chief Economist says, "The insurance industry has reached a new equilibrium after the challenges of recent years. The global economy has surprised on the upside, which should drive more...
Govt may introduce insurance laws amendment bill in Budget session
Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers...
Modi 3.0: Govt drops privatisation plans
Among other plans, the government intends to introduce succession planning in majority-owned companies alongside a proposal to train 230,000 managers across firms to prepare them for senior roles, the officials said. The government is likely to implement a plan that...
Budget FY2024-25: Indian Insurance Industry’s Wish-list
The upcoming Budget 2024-25 is crucial for advancing insurance accessibility and inclusivity, in line with IRDAI's 'insurance for all by 2047' vision. Some of the important functionaries of the Indian industry put forward a few demands before union finance minister...
Term Insurance: Multiple features with flexible options
Several term plans come with the flexibility of being converted into an endowment policy or a pension fund with monthly annuities, thus becoming more attractive to people Amit Jaiswal, Chief BALIC Direct Officer, Bajaj Allianz Life Insurance One of the simplest forms...
Shriram Life Insurance launches affordable annuity plan
Shriram Life Insurance has launched an affordable annuity plan that balances long-term savings growth along with insurance protection. Individuals aged 40 and up until the age of 75 can purchase Shriram Life Deferred Annuity Plan, which offers tax benefits as well as...
IDFC First Bank raises Rs 3,200 cr by selling shares to LIC, 5 other insurers
The names of the six companies to whom shares have been allotted are Life Insurance Corporation of India, HDFC Life Insurance Company, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, ICICI Lombard General Insurance Company and SBI...