It captures the level of financial inclusion using data from...
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TRAI convenes joint committee of regulators on issues of spam and cyber fraud
Key outcomes were urgent transition to 1600-Series for Commercial...
Allianz and Reliance Group’s Jio Finance float three 50-50 JVs for life,non-life and reinsurance business in India
Jio Financial Services Limited (JFSL) and Allianz Group (Allianz),...
TCS expands 15-yr strategic partnership with UK’s Aviva, to service over 5.5 million policies
Doug Brown, CEO Insurance, Wealth & Retirement, Aviva said,“Extending this strategic partnership will improve how we serve our customers, further simplify our operations and support our growth ambitions. It will allow us to rationalize our systems and improve...
IRDAI sets higher targets for insurers in revised norms on `Rural, Social Sector and Motor Third Party Obligations’
Insurance business pertaining to Government social security schemes such as Pradhan Mantri Awas Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY),Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY), etc. where total/ partial premium is paid by the Government,...
House panel recommends reduction of GST on health, term and micro insurance policies
Jayant Sinha, chairman, Parliamentary Standing Committee on Finance The Committee is in favour of allowing composite licensing that could provide further impetus to the insurance sector owing to its various benefits New Delhi: The Parliamentary Standing Committee on...
Max Life gets Irdai nod for Rs 1,612 cr infusion by Axis Bank
Last year in August, the company announced a capital infusion by Axis Bank by issuance of 14.25 crore equity shares to help Max Life to support its future growth ambitions, augment its capital position and improve solvency margins NEW DELHI: Max Financial Services,...
H Venkatachalam appointed as new MD & CEO of Tata AIA Life, Tahilyani to head Tata Digital
H Venkatachalam, MD & CEO designate , Tata AIA Life Venkatachalam H. will take over as MD& CEO shortly from the incumbent Naveen Tahilyani, who has been made a non-executive director of Tata AIA Life Insurance Company. Mumbai: Tata AIA Life Insurance Company...
LIC launches a new unit linked plan
Siddhartha Mohanty, chairperson, Life Insurance Corporation launched a new unit linked plan- Index Plus- on Monday The new product is a Regular Premium, Individual Life Insurance Plan which offers life insurance cover cum savings throughout the term of the policy,...
Max Life Insurance appoints Sumit Madan as chief distribution officer
Max Life Insurance Company has appointed of Sumit Madan as senior director and chief distribution officer. In this role, Sumit will help drive the company’s business growth and expansion initiatives across distribution networks, including bancassurance, agency, and...
LIC shares cross Rs 1,000 mark, GIC re touches issue price of Rs 433 for the first time
The shares of New India Assurance(NIA) also rose almost 10 per cent and closed at Rs 265.10 in BSE New Delhi: The upward share prices of Life Insurance Corporation of India (LIC) and GIC Re, state-owned multinational reinsurer, on Monday brought cheers to the retail...
IRDAI asks insurers to put in place Climate Risk Management framework by Apr 1
As part of the Board’s internal governance practices, the Board has to consider and adopt appropriate steps and measures towards succession planning through a process of proper identification and nurturing of individuals for taking up directorship and KMP (Key...
Insurers need not seek its prior-approval for going public: IRDAI
The IRDAI will soon provide more clarity on capital structure of the applicants seeking new registration and provide more clarity on applicability of requirement of prior- approval for transfer of shares Hyderabad: Announcing some key measures, Indian insurance...