SBI Life's Value of New Business (VoNB) stands at Rs.1,088 crores...
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Former finance secy Ajay Seth appointed as new IRDAI chairman for 3 yrs
Ajay Seth, Chairman-designate, IRDAI Seth, a 1987-batch Indian...
Angel one forms Rs 400 crore life insurance JV with Singapore’s Livwell
Wilf Blackburn, ex-regional CEO of Prudential Asia, is proposed to...
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...
5 Predictions for the insurance industry in 2024
Kenneth SaldanhaSenior Managing Director – Global Insurance Lead, Accenture In 2024, we will see excitement about the possibilities of GenAI give way to growing demand for material economic impact from AI/GenAI solutions As we look ahead to 2024, while we see many...
LIC receives GST demand notice of Rs 663 crore from Chennai tax officials
The demand pertains to wrong availment of Input Tax Credit (ITC) and non-payment on tax on turnover wrongly declared as non-GST supply in GSTR-1 for 2017-18, and 2018-19, it said Mumbai: Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have...
LIC gets GST demand notice of Rs 116 crore
The demand for Telangana came a day after LIC on Monday received a similar notice demanding about Rs 806 crore for short payment of GST for 2017-18 along with interest and penalty for Maharashtra Mumbai: Life Insurance Corporation of India (LIC) on Tuesday said tax...