Key outcomes were urgent transition to 1600-Series for Commercial...
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Allianz and Reliance Group’s Jio Finance float three 50-50 JVs for life,non-life and reinsurance business in India
Jio Financial Services Limited (JFSL) and Allianz Group (Allianz),...
About 1.4 lakh new PMJDY a/cs opened under financial inclusion saturation campaign: FinMin
Nearly 1.4 lakh new Jan Dhan accounts have been opened and more...
After NCLT snub, Torrent Investment once again knocks SC’s doors
In a fresh Letter of Urgency, Torrent Investment has stated that during the pendency of its appeals before the SC, the Committee of Creditors (COC) of Reliance Capital have not only conducted the second round of auction, but approved the resolution plan of IIHL and...
LIC gets income tax penalty notice of Rs 84 crore; insurer to file appeal
For assessment year 2012-13, the tax authority has imposed a penalty of Rs 12.61 crore, for 2018-19 Rs 33.82 crore, while Rs 37.58 crore for assessment year 2019-20, LIC said in a regulatory filing NEW DELHI: Life Insurance Corporation (LIC) on Tuesday said that the...
Strategic shift: LIC increases its g-sec exposures
Presently, more than 70 per cent of LIC's investments from its non-participating fund of Rs 13.5 trillion ($162.39 billion) is invested in debt, they said. Most insurers keep debt levels at above 90 per cent in their non-participating book to cushion their solvency...
Prashant Tripathy reappointed as Max Life’s MD & CEO for another 5-yrs
Prashant Tripathy, MD and CEO, Max Life Tripathy's deputy V. Viswanand, deputy managing director at Max Life has decided to move on and has already put in his papers New Delhi: Max Life Insurance has announced the reappointment of Prashant Tripathy as the MD and CEO...
Aviva to buy AIG’s UK life insurance business for $563 million
The transaction will add 1.3 million individual protection customers and 1.4 million group protection members, Aviva said, with the deal expected to close in the first half of 2024, subject to regulatory approvals. London: Aviva said on Monday it had agreed to buy the...
LIC to appeal against GST tax notice of Rs 290 crore
The tax authority has alleged that among other violations, LIC did not reverse the Input Tax Credit (ITC) availed on the premium received by the corporation from policy holders Mumbai: The Bihar-Additional Commissioner State Tax (Appeal), Central Division, Patna, has...
Max Life ties up with AU SFB selling life insurance products
Max Life Insurance Company has entered into a bankassurance alliance with AU Small Finance Bank (AU SFB), This collaboration will allow AU SFB’s digitally inclined customers to access the full spectrum of life insurance plans offered by Max Life.
Talent war, rising costs causing Indian employers to rethink benefits strategy: WTW Survey
In India, employers see risk and insurance benefits (51 per cent), health benefits (51 per cent) and career, training and development (43 per cent) as the most important benefits in their portfolios ''Economic factors, a tough labour market and tight budgets are...
Ministry of Finance approves welfare measures for LIC agents and employees
Siddhartha Mohanty, chairperson, LIC, thanked finance minister Nirmala Sitharaman for extending the benefits of agents and employees of the corporation New Delhi: The Ministry of Finance today approved a series of Welfare measures for the benefit of agents and...
RBI’s financial inclusion index rises; shows growth across all segments
In August 2021, the central bank said it has been conceptualised as a comprehensive index, incorporating details of banking, investments, insurance, postal, as well as the pension sector, in consultation with government and respective sectoral regulators Mumbai: The...