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Beyond Balance Sheet: Strategic role of CFOs in insurance industry
True leadership in finance is not just about preserving value, it...
Bajaj Life launches its new customer app
Bajaj Life launched of its upgraded and enhanced customer app –...
Insurance Councils and Panchayat Raj ministry to identify gram panchayats for rural sector business: IRDAI
After the finalisation of the first gram panchayat for each insurer, the council should share the list with the Insurance Regulatory and Development Authority of India New Delhi: With the objective to meet insurance for all by 2047, the sector regulator Irdai on...
Phi Commerce to manage payment solutions for Reliance Nippon Life Insurance
Omnichannel payment solution provider Phi Commerce will manage payment solutions for Reliance Nippon Life Insurance Company (RNLICL) for streamlining the insurer’s payment processes, including premium collections, a company statement said. The arrangement will seek to...
PB Fintech records a net profit of Rs 60.59 crore in Q4FY24
The company, which also operates online credit marketplace Paisabazaar, posted a consolidated net profit of Rs 60.59 crore ($7.3 million) for the quarter ended March 31, against a net loss of Rs 8.95 crore a year ago New Delhi: India's PB Fintech, the parent of online...
Max Financial suffers a loss of Rs 52.45 crore in Q4FY24
Max Life Insurance achieved new business Margin (NBM) of 26.5% in FY24 and 28.6% in Q4FY24. The life insurer's value of new business (VNB) of Rs 1,973 crore, grew 1% in FY24 The life insurer reported an embedded value(EV) of Rs 19,494 crore, while the operating return...
IRDAI slaps Rs 1 cr fine on Prem Watsa promoted Digit Insurance for violating shareholding norms
``It is observed that there has been an inordinate delay in filing the particulars of JV Amendment Agreement, which among other things contains details of change in conversion ratio and total number of CCPS(convertible preference shares ) as 78,00,000 as against...
Hinduja group floats 4 new Indian cos to acquire Reliance Capital
Hinduja Group has now submitted a new plan changing the entire corporate structure of the transaction for the implementation of the resolution plan which again has been submitted to all the regulators for their fresh approvals Mumbai/Hyderabad In a bid to...
ICICI Prudential Life launches ULIP, links distributor remuneration to fund value performance
ICICI Prudential Life Insurance on Monday said it has come out with its first unit-linked product which aligns distributor payouts to their customers' fund value. Customers can choose from an array of 21 funds under this product, comprising 13 equity and four each in...
Hinduja group’s IIHL to revive health insurance company after acquiring Reliance Capital
Ashok Hinduja, chairman, IndusInd International Holdings IIHL has received clearance from Sebi, CCI (Competition Commission of India) and RBI and is awaiting the green signal from insurance sector regulator IRDAI for the Reliance Capital acquisition Mumbai: Apart from...
Global microinsurance premiums touch $5.8 billion in 2023, cover only 15% of market: Report
The 2023 Study, drawing on from 294 insurers covering 1,040 products across diverse sectors, including health, life, agriculture, and property, estimates the value of the microinsurance market across 36 countries at USD 41.4 billion. With only 15 per cent of that...
Bermuda insurer credit profiles supported by BMA regulatory reforms: Fitch
The Bermuda life insurance market has grown rapidly. Assets increased to $1.1 billion as of YE2022 from $496 million in 2018, and the number of life insurance licenses increased 10% over the same period to 180. This growth has been driven by its economic-based regime,...