Creates a new unit, Business and Client Services (BCS), to...
Category:
Life
Latest
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)...
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...
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...