The Financial Services Institutions Bureau (FSIB) interviewed five...
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LIC sees Rs 1,100 crore premium inflows on first day of GST relief
Industry experts said that the removal of GST has made traditional...
100% FDI: Indian Govt issues norms to ease compliance for foreign investment in insurance
The proposed changes to the Amended 2015 Rules make it clear that...
Shriram Life Insurance reports a flat profit of Rs 158 crore in FY 24
Casparus J H Kromhout, MD & CEO, Shriram Life Insurance said, “These results aptly reflect the work we started a year ago by bolstering sales and aggressively expanding across rural India. 41 per cent of the total policies sold by Shriram Life Insurance are from...
Singapore’s Income Insurance targets Asia Pacific expansion
Established in 1970, Income Insurance serves about 1.7 million customers in Singapore and is designated by the regulator as one of four systemically important insurers in the country. It offers services in areas such as life, health, travel and home insurance, as well...
Max Life declares Rs1,826 crore bonus in Fy 23-24
Max Life Insurance Company (Max Life) has announced its highest-ever participating (PAR) bonus of Rs1,826 Crore for its eligible policyholders in FY23-24. The bonus is 14% higher than the bonus declared in the last fiscal. The declared annual bonus will be added to...
RCap administrator seeks 90-day extension from NCLT to implement resolution plan
The deadline for the implementation of the approved resolution plan was May 27, 2024. NEW DELHI: The administrator of debt-ridden Reliance Capital (RCap) has moved NCLT, seeking a 90-day extension beyond the deadline to implement the Rs 9,661 crore resolution plan...
Upstox ties up with HDFC Life for selling insurance products
Upstox, a wealth management platform today launched its entry into insurance distribution business and has tied up with HDFC Life as its first insurance partner. “With this launch, the company aims to revolutionise India's insurance landscape by offering its users a...
“Reliance Capital asks for extra 10 days for Hinduja group asset transfer”
The deadline for the transfer of Reliance Capital's asset to Aasia Enterprises, a Hinduja Group company, ended on Friday, they added. It may be mentioned that May 27 also happens to be the deadline for the implementation of the resolution plan by the Hinduja Group...
Global life expectancy projected to improve by 5 years in men, over 4 in women by 2050: Lancet Study
The researchers from the Global Burden of Disease (GBD) 2021 Forecasting Collaborators said that the ongoing shift in disease burden to non-communicable diseases such as cardiovascular ones, cancer and diabetes, and exposure to associated risk factors including...
IRDAI forms panel to review performance and enhance efficiency of Insurance Ombudsman
The committee will be headed by Shalini Prasad, former special secretary, NITI Aayog and will have tenure of two years. The other members of the panel are- Rakesh Joshi, former whole-time member, IRDAI, Kuldip Singh, former Insurance Ombudsman, Pushpa Girimaji,...
Hinduja group seeks time beyond May 27 to pay Rs 9661 crore for acquiring Reliance Capital Limited
According informed sources, CoC in today’s meeting has taken a tough stand and informed Hinduja Group to make the payment by 27th May or action in accordance with the RFRP will be taken whereby CoC can. encash performance bank guarantee of almost Rs. 500...
HDFC Life announces highest-ever bonus of Rs 3,722 cr on participating plans
HDFC Life has announced its highest-ever bonus of Rs. 3,722 cr. on participating plans during the company’s board meeting in April 2024 benefitting 22- 23 lakh policyholders. Out of the total bonus amount, Rs 2,798 crore will be disbursed to policies in the current...