``We have decided to remove 18 per cent GST from all individual...
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Tamil Nadu among India’s most insurance-aware markets: IMRB Kantar
Key insights revealed by a study initiated by Insurance Awareness...
GST Council meet on rate reform begins; TDP supports, opposition bloc seeks revenue protection
The government had proposed completely exempting life and health...
LIC ropes in A. T. Kearney to revamp its 14 lakh agency force
Siddartha Mohanty, CEO & MD, Life Insurance Corporation To continue its legacy of agency-led growth, LIC has embarked on an ambitious mission “Jeevan Samarth” that aims on future-proofing its entire ~14 Lakh agent workforce to meet the rapidly evolving needs of...
LIC chairman Mohanty re-designated as CEO and MD
Siddhartha Mohanty, chief executive officer and managing director, Life Insurance Corporation The Ministry of Finance will appoint a non-executive chairman afterwards. Besides Mohanty, there are currently four other MDs in LIC Mumbai: On the basis of earlier...
Ageas Federal Life declares highest-ever total bonus of Rs 134 crore in FY24
Ageas Federal Life Insurance has announced its highest-ever total bonus of Rs 134.44 crore during the annual valuations for the fiscal year 2023-24. This significant milestone marks the 10th consecutive year of bonus declarations by the company, reflecting a notable...
India mulls income tax cuts in Budget as part of $6 billion consumer boost
Officials in the Ministry of Finance have discussed proposals to reduce taxes for consumers with the highest propensity to spend, the people said, asking not to be identified because the talks are private Prime Minister Narendra Modi’s government is considering...
ULIPs should not be advertised as ‘investment products’, says IRDAI
Insurers will have to specifically state that market-linked insurance plans are different from traditional endowment policies and carry risks New Delhi: The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular barring the...
Sanlam to buy majority stake in financial wing of top African media group
The deal gives Sanlam an opportunity to further expand its insurance and financial services business across Africa, the companies said. Opportunities outside South Africa will be facilitated through its SanlamAllianz business JOHANNESBURG: South African insurer Sanlam...
RCap resolution: NCLT to hear IIHL plea for deadline extension on June 20
IIHL has moved NCLT seeking a 90-day extension beyond the deadline to implement the resolution plan for acquiring Reliance Capital for a consideration of Rs 9,850 crore Mumbai: National Company Law Tribunal (NCLT) will hear the plea of Hinduja Group firm IndusInd...
IRDAI wants life insurers to pay Surrender Value from 1st yr, allows customers more facilities against their life insurance policies
We note that the final guidelines are somewhat more favorable than the earlier draft. Based on our preliminary calculations, surrender income could decrease by approximately 55-70%. It's too early to quantify the impact on the Value of New Business (VNB) margin, as...
Lee Yuan Siong, group chief executive and president of AIA, becomes chairman of The Geneva Association
Lee Yuan Siong,group chief executive and president, AIA ``In every corner of the world, we are facing increasingly complex risks covering ageing, health, climate and technology'' Lee Yuan Siong ZURICH: The Geneva Association announces on Friday that Lee Yuan Siong,...
Consumer forum directs LIC to pay Rs 2 lakh claim to widow of policyholder
In an order passed last month, the District Consumer Disputes Redressal Commission, South Mumbai, noted that guidelines of the Insurance Regulatory and Development Authority (IRDA) state all terms and conditions should be explained to the insured in the language known...