The statement was in response to a report in The Washington Post...
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SBI Life’s net profit falls 7% to Rs 495 crore in Q2FY26 as costs rise amid competition
Its net premium income jumped 22.6% to Rs 24,848, driven by a near...
Ageas Federal Life and CSB Bank forge partnership
Ageas Federal Life Insurance, has announced a strategic SME...
ICICI Pru Life gets GST and penalty notices for over Rs 855 crore from several states
ICICI Prudential Life Insurance has received a GST and penalty order of over Rs 855 crore from tax departments of several states including Maharashtra, Bihar, West Bengal, Delhi, the company informed the exchanges on Tuesday. The insurer has received the highest...
IRDAI slaps a Rs 20 lakh fine against Edelweiss Tokio Life Insurance for violating shareholding norms
In an order signed by two members, BC Patnaik, Life and RK Sinha, Finance and Investment , the regulator has alleged that the insurer has carried out changes in the shareholding pattern of the joint venture, without its prior approval and also the company has not...
RCap lenders urge Hinduja Group arm to resolve IRDAI’s concerns early
According to the sources, the lenders expressed concerns over the slow progress towards the implementation of RCAP resolution plan, as IIHL is yet to receive the crucial IRDAI approval on the resolution plan.The IRDAI has raised multiple queries and concerns over the...
FIU notifies fresh money laundering, terror financing reporting alerts for insurance and capital market players
A working group, that included insurance regulator IRDAI, went into issues related to the insurance sector during 2022-23 fiscal and the revised guidelines laid "special stress" for generating alerts in cases of frauds experienced by the insurance firms and analyse...
6th Bima Manthan: Panda and insurance CEOs brainstorm on Bima Trinity, new products and data
Debasish Panda,chairman,IRDAI The industry's preparedness for transitioning towards Risk-Based Supervision, Risk Based Capital frameworks and convergence to International Financial Reporting Standards (Ind-AS) took center stage of the latest Bima Manthan, with...
SBI Life Q4 net profit grows by 4% to Rs 811 crore
SBI Life said it registered a growth of 9 per cent in the value of new business (VoNB) to Rs 5,550 crore in FY24.VoNB is the present value of expected future earnings from new policies written during a specified period. Mumbai: SBI Life Insurance, the second largest...
Bima Vistaar: IRDAI unveils premium for its mass combo cover at Rs 1500, for a family at Rs 2420
Debasish Panda, chairman,IRDAI Bima Vistaar will have a combined features of Life, Health, Personal accident and Property. For Life cover a premium of Rs 820 has to be paid while Health, Personal accident, Property have been priced at Rs 500, Rs 100 and Rs 80...
LIC warns against misleading social media ads exploiting Its brand and logo
''It has come to our attention that certain individuals and/or entities are engaging in fraudulent advertising practices on various social media platforms by misusing the image of our senior official/s or ex-officials, our brand logo, and our brand name without our...
Pvt sector life insurers gain market shares in new business premium and policies sold in FY24
26 private sector life insurers have gained market share over LIC in all three key areas like new business premium, policies and number of policies and number of lives covered under group schemes in FY 24 Indicating higher ticket size of its average...
Tata AIA crosses Rs 1 lakh cr AUM
Tata AIA Life Insurance has crossed Rs. 1 lakh cr in assets under management (AUM). In less than three years, the Company has doubled its AUM from Rs. 50,000 crore (Aug’21) to Rs. 1,00,000 crore. This increase has been fuelled by strong growth in Individual New...