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FSIB recommends R Chander as MD of LIC
The Financial Services Institutions Bureau (FSIB) interviewed five...
LIC sees Rs 1,100 crore premium inflows on first day of GST relief
Industry experts said that the removal of GST has made traditional...
IRDAI Board meets today, to approve Bima Sugam
Bima Sugm will be officially called as Rashtriya Bima Sugam Nigam Ltd, built with an intial corpus of Rs 200 crore and the shareholding of the company will be widely held amongst life insurers, general insurers and health insurers with no single entity having...
Indian insurance industry receives Rs 54,000 crore FDI since December 2014: DFS Secy Joshi
Financial Services Secretary Vivek Joshi said that the Assets Under Management (AUM) nearly tripled to Rs 60.04 lakh crore as on March 31, 2023 as compared to Rs 21.07 lakh crore in 2013-14, while total insurance premium recorded more than two-fold jump to Rs 10.4...
Banks asked to check mis-selling of insurance products, safeguard account holders’ interest: DFS Secy
Vivek Joshi ,Financial Services Secretary Banks have been sensitised on the matter, as the Department of Financial Services (DFS) regularly gets complaints that fraudulent and unethical practices are being adopted by banks and life insurance companies for procuring...
Govt approves 17 % wage hike for LIC employees
The revision incorporates an enhancement in National Pension System( NPS) contribution from 10% to 14% for a better future of nearly 24,000 employees, who had joined after Apr, 2010 Mumbai: After banking, the government has approved a 17 per cent hike in the wages of...
Life expectancy dropped by 1.6 years during pandemic, reversing past progress: Lancet study
The study found that life expectancy declined in 84 per cent of countries and territories during this time. This demonstrated the “devastating potential impacts of novel pathogens”, the researchers said New Delhi: Global life expectancy dropped by 1.6 years between...
SCOR overhauls its regional and business structure
The structures within Property & Casualty (P&C) and Life & Health (L&H) are being simplified to achieve more immediate client access and decision-making Paris: French major SCOR is restructuring its business processes to become a simpler and...
Life protection plan for Indian blue-collar workers unveiled in the UAE
Around 3.5 million Indians reside in the UAE, of which about 65 per cent are blue-collar workers, who form one of the largest groups of migrant workers in the UAE. In 2022, the consulate registered a total of 1,750 death cases, of which around 1,100 were workers...
Committee of Creditors asks Hindujas to complete RCap resolution by March end
COC, in an official communication, through its lawyer Luthra and Luthra, on Monday, has further asked IIHL to provide all necessary information, documents and cooperation to obtain the pending regulatory approvals, especially from the Indian insurance regulator IRDAI,...
SBI Life Insurance partners with Lucknow Super Giants as ‘Lead Helmet Partner’
SBI Life Insurance has announced its association with the Lucknow Super Giants (LSG) franchise, as ‘Lead Helmet Partner’ for the upcoming 2024 cricketing season. SBI Life's logo will feature prominently on the helmets of Lucknow Super Giants, thus leveraging the...
Canara HSBC Life partners with Tripura Gramin Bank
Canara HSBC Life Insurance Company Limited announces a new strategic partnership with Tripura Gramin Bank (TGB) to offer a range of life insurance products through TGB's extensive branch network within the state. The collaboration marks a significant milestone,...