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Canara HSBC Life IPO sees tepid response; subscribed 6 pc on day 1
The retail individual investors (RIIs) category was subscribed 9...
Bajaj Finserv rebrands insurance businesses as Bajaj General Insurance and Bajaj Life Insurance
Sanjiv Bajaj, chairman & managing director, Bajaj Finserv "The...
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...
Bima Sugam: IRDAI forms an interim board for project, new company and CEO by month end
Headquartered in Mumbai, the entity would now be incorporated as a Section 8 (non-profit) company under the name ‘Bima Sugam India Federation’. The members of its interim board are are- Rakesh Joshi, former member, IRDAI, Naveen Tahilyani, MD&CEO, Tata Digital,...
PNB MetLife India Insurance appoints Sameer Bansal as MD & CEO
Sameer Bansal, MD and CEO designate, PNB MetLife , Bansal had joined PNB MetLife India insurance in 2007 and is currently chief distribution officer and a member of the leadership team New Delhi: PNB MetLife India Insurance announced today the appointment of Sameer...
Kirloskar group’s Arka Fincap receives IRDA license for corporate agency
Mumbai: Arka Fincap Limited, a NBFC and subsidiary of Kirloskar Oil Engines Limited (KOEL), has been granted license to act as a corporate agent (composite) by the Insurance Regulatory and Development Authority of India (IRDAI).Vimal Bhandari, executive vice chairman...
PNB to sell 10% in Canara HSBC Life
PNB's board in its meeting held today has accorded its approval for initiating the process of diluting 10 per cent stake of the bank in Canara HSBC Life Insurance Co Ltd, an associate company of the Bank, by listing the company in stock exchanges (BSE/NSE) through...