The adoption of Risk-Based Capital (RBC) rules by the Indian...
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Asia Index launches BSE Insurance Index
The BSE Insurance Index is derived from the constituents of BSE...
Govt to sell minority stake in LIC
The quantum of stake sale, price and timing would be decided in due...
Innovation is key for achieving Insurance for all by 2047 : LIC Chief
Siddharth Mohanty, chairman, Life Insurance Corporation In the age of high competition for the business in the industry, Mohanty, however,emphasised that insurance companies also need to prioritize purpose before profit and should focus on social consciousness rather...
LIC receives IT refund of Rs 25,464 crore relating to interim bonus
For LIC, this is second time in recent years large IT refund has happened. Earlier it had received a IT refund of Rs 6000 crore Mumbai: Life Insurance Corporation of India (LIC) said it has received an income tax refund of Rs 25,464 crore relating to interim bonus to...
HDFC Life Q3 profit rises 16% to Rs 365 crore
Vibha Padalkar,MD & CEO, HDFC Life On the Irdai plans to massively hike the surrender value of policies mid-way, Padilkar said that conceptually she agrees with the proposal, as policyholders should not be losing their money if on surrender. However, the industry...
Max Life ventures into the United Arab Emirates
Prashant Tripathy, CEO and Managing Director, Max Life said “ With our presence in Dubai, we are not only extending our reach to the Gulf region and enhancing our brand awareness, but also bridging the geographical gap to ensure that our NRI customers experience a...
LIC receives Income Tax demand order of Rs 3,528 crore
Corporation shall file an appeal before Commissioner (Appeals), Mumbai against the said orders within the prescribed timelines. There is no material impact on financials, operations or other activities of the Corporation due to the abovementioned orders," the LIC...
SBI Caps CEO RK Sinha appointed as Member, Finance & Investment, IRDAI
RK Sinha, MD& CEO, SBI Capital Markets Sinha is an officer from State Bank of India having specialisation in Treasury, Trade Finance & Balance Sheet Management. Analysts pointed out that with his expertise in global markets, Sinha will contribute to the...
Pramerica Life launches new brand campaign,
Pramerica Life Insurance on Monday announced the launch of its inspiring brand campaign, "This is My Climb." This powerful campaign, featuring two short films, aims to celebrate the diverse stories of purpose, aspirations, and resilience that define our individual...
LIC to pick up 10% stake in NHB-promoted company
In a regulatory filing, LIC said the board has cleared the proposal to invest in a new company, promoted by the NHB, for residential mortgage-backed securities, through equity contribution up to 10 per cent of the share capital Mumbai: Life Insurance Corporation of...
PK Arora, Member, Actuary, IRDAI gets 2-yr extension
Pramod Kumar Arora, member, Actuary, IRDAI Though, the government had advertised for the post sometime back, it decided afterwards to give extension to Arora, who was also managing Reinsurance Department at the IRDAI New Delhi: The government has given two...
Payout by life insurers moderates in FY23 compared to previous year
The benefits paid on account of surrenders/withdrawals increased by 25.62 per cent to 1.98 trillion in 2022-23, of which public sector insurers accounted for 56.27 per cent New Delhi: Payout by life insurance companies declined by about Rs 6,000 crore during 2022-23...