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...
LIC projects double digit growth in FY24, plans to launch innovative products: Chairman
"We are projecting double-digit growth over the last year. We are going to achieve that because a recent trend is showing uptick in individual retail business. In order to further reinforce our commitment, we are going to launch some new attractive products," LIC...
Govt searches Aviva Life insurance office for alleged tax evasion-sources
The Aviva searches are part of a broader investigation involving many insurers who face allegations of at least $610 million in unpaid dues, a senior Indian government official, said. New Delhi: India's tax inspectors searched the office of British insurance giant...
Bank of England to deepen system-wide stress test for banks, insurers and pension schemes in 2024
The Bank wants to see how market players cope when there are huge demands for liquidity, such as meeting extra margin calls on positions in a short time. London: The Bank of England said on Friday it would start the second leg to its first system-wide stress test of...
LIC Q2 net profit at Rs 7,925 crore on lower income, ropes in BCG for digital transformation
`We are conscious of the market dynamics in certain parts of our business and are working towards profit-oriented consolidation. The distribution mix is also more diversified with increase in share of Bancassurance and Alternate Channels. We continue to remain focused...
China authorities ask Ping An to take controlling stake in Country Garden, sources
China's State Council, which is headed by Premier Li Qiang, has instructed the local government of Guangdong province, where both companies are based, to help arrange a rescue of Country Garden by Ping An, said two of the sources who have direct knowledge of the...
India among top countries with high income, wealth inequality: new UNDP report
In India, between 2000 and 2022, per capita income soared from USD 442 to USD 2,389. Whereas, between 2004 and 2019, poverty rates (based on the international poverty measure of USD 2.15 per day) plummeted from 40 to 10 per cent New Delhi: India has emerged among top...
India debut 50-year bond fully sold on increasing insurer demand
The nation’s burgeoning life insurance and pension fund industries, driven by an expanding middle class, are changing the landscape for India’s $1 trillion sovereign debt market. India’s yield curve has been nearly flat even amid record borrowing by the government as...
Q3 InsurTech investment surpasses USD1 billion on P&C surge
With wealthy backers writing enormous checks, InsurTechs could ignore the importance of loss ratios or customer retention. They – and their investors – could instead focus on metrics like growth and divergence and miss the extremely important lessons that ultimately...
India First Life gets GIFT City IFSC registration; to commence operation soon
The registration will enable India First Life to expand its reach globally, the company said in a statement. Mumbai: India First Life Insurance on Wednesday said it has received the registration to undertake life insurance business in the Gujarat International Finance...
Future Generali appoints Akshaya Kashyap as chief people officer
Future Generali India Insurance Company (FGII) has appointed Akshaya Kashyap as its chief People Officer of the organisation, effective October 1, 2023. He has a rich and diverse experience in the Human Resource (HR) domain, spanning over 18 years, with almost a...