Shares of Star Health and Allied Insurance Company skyrocketed 9.35...
Category:
Life
Latest
New India to pass on maximum benefit of 18% GST exemption to retail Health Insurance customers
``As India’s most trusted insurance partner, New India Assurance...
18% GST on re/insurance premiums of retail Life and Health covers removed from Sept 22, insurers have to pass on benefits to customers: Sitharaman
``We have decided to remove 18 per cent GST from all 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...
LIC receives GST notice for Rs 806 crore
LIC will file an appeal before the Commissioner (Appeals), Mumbai, against the said order within the prescribed timeline. The total includes GST worth Rs 365.02 crore, penalty of Rs 404.7 crore and interest of Rs 36.5 crore New Delhi: The Life Insurance Corporation of...
LIC wants more investment avenues, ‘in active discussion’ with RBI for access to debt data via CRILIC: Chairman
Siddhartha Mohanty,chairman,Life Insurance Corporation According to the LIC chairman, so far as investment scope for insurance companies are concerned, it is highly regulated. So, new asset class should also be allowed, like your sovereign gold bond, equity...
CCI clears Hinduja group owned entities’ acquisition of controlling stake in Reliance Capital
Reliance Capital's subsidiaries and associates are engaged in various businesses in the financial service sector including insurance New Delhi: The Competition Commission of India (CCI) has approved acquisition of controlling stake in Reliance Capital Ltd by Hinduja...
Indian life insurers’ net profit zoom 500 % to Rs 42,788 cr, lower claim settlement ratio at 98.45% in FY 2022-23
During 2022-23, the life insurance industry recorded premium income of Rs 7.83 lakh crore registering 12.98 per cent growth De-growth of 2.21 per cent in the number of new policies issued Benefits paid on account of surrenders /withdrawals increased by 25.62 per cent...