Despite the Bill to hike FDI in the insurance sector to 100 per...
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Cabinet approves Insurance Amendment Bill for raising FDI cap to 100%, no provision for Composite license
Bill doesn't have any of the much talked about features like...
Central law on eviction of unauthorised occupants prevails over state rent laws: SC
A three-judge bench of Justices Vikram Nath, Sandeep Mehta and N V...
Hong Kong slaps AIA with record fine for anti-laundering lapses
The lapses resulted in some customers who were “politically exposed persons” failing to be picked up during the screening process. That led to delays in identifying their source of money and wealth, it added. However, no policies were sold to clients who should not...
Reliance Capital resolution: CoC warns of remedial action against Hinduja owned IIHL
Hinduja owned IIHL failed to meet the deadline of July 31. On August 1, Vistra ITCL, the trusteeship acting on behalf of the CoC, wrote a letter to IIHL that it had defaulted on the NCLT order, now lenders reserve their rights and remedies as per the resolution plan...
HDFC Life fined Rs 2 crore by IRDAI for violating regulations
The IRDAI has asked HDFC Life to review its vendor management policy and review all its existing vendors’ agreement to make necessary changes to its policy in line with the regulations on outsourcing. Mumbai: The IRDAI has slapped fine of Rs 2 crore against HDFC Life,...
Gadkari urges FM to withdraw 18 pc GST on life and medical insurance premiums
"The 18 per cent GST on medical insurance premiums is proving to be a deterrent for the growth of this segment of business which is socially necessary."Union Minister of Road Transport and Highways Nitin Gadkari New Delhi: Union Minister of Road Transport and Highways...
SCOR sees first quarterly loss since 2022
Thierry Leger,Chief Executive Officer,SCOR SE The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analysts’ estimates. The result was driven by a €329 million operational loss in the life and health unit...
LIC share touches a new life time high of Rs 1178
On a year to date basis, private life insurers like HDFC Life Insurance Company rose 6.31 per cent, ICICI Prudential Life Insurance Company rose 32.93 per cent and SBI Life Insurance Company rose 18.66 per cent Kumud Das Mumbai: State-run insurer Life Insurance...
Eco- Survey flags off possible misinterpretation of principles-based regulations by private sector insurers
``Globally, the private financial sector has repeatedly shown itself to be adept at selective or misinterpretation of principles-based regulations to its benefit,’’ cautioned the report released on Monday adding that when it comes to financial products, globally,...
SBI Life’s Q1 net profit rises 36% to Rs 520 crore
The life insurer’s Value of New Business (VoNB) stood at Rs 970 crore with a 12 per cent year on year (Y-o-Y) growth in Q11FY 25. Its VoNB margin was at 26.8 per cent during the reporting quarter Mumbai: SBI Life, the largest private sector life insurer, has...
Budget 2024: TDS reduced on life insurance policy payout from 5% to 2%, receives positive responses from insurers
The introduction of a clause pertaining to non-deductible expenses in Section 37 for life insurance companies may lead to tax litigation. The proposed hike in Capital Gain Tax is expected to impact the tax liabilities for ULIP policyholders Rushabh Gandhi, MD &...
ICICI Pru Life Q1 PAT up 9% to Rs 224.34 cr
Anup Bagchi, Managing Director and Chief Executive , ICICI Pru Life The company said it registered nearly an 8 per cent growth in the value of new business (VNB) to Rs 472 crore and the VNB margin stood at 24 per cent Mumbai: ICICI Prudential Life Insurance on Tuesday...