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Canara HSBC Life IPO sees tepid response; subscribed 6 pc on day 1
The retail individual investors (RIIs) category was subscribed 9...
Bajaj Finserv rebrands insurance businesses as Bajaj General Insurance and Bajaj Life Insurance
Sanjiv Bajaj, chairman & managing director, Bajaj Finserv "The...
Bharti to acquire AXA’s 49% stake in Indian life Insurance JV, scouts for new partners, AXA exits both Indian life and non-life biz
Bharti’s intention is to ensure that the life Insurance business continues to serve the Indian market and, in this regard, it is engaging with other strategic and financial investors to partner and or combine, so as continue to scale this business New Delhi: Sunil...
LIC receives Rs 37,000 tax notice from J&K GST body
The Jammu & Kashmir GST authority has calculated the pending dues of the LIC saying the corporation has paid taxes at 12% instead of 18 % on certain invoices Mumbai: Life Insurance behemoth Life Insurance Corporation(LIC) on Wednesday said it has received a demand...
Aviva shares jump 8% as Times cites takeover talk
Names of potential bidders mentioned include Germany’s Allianz SE, Denmark’s Tryg AS, and Canada’s Intact Financial Corp, the Times said. LONDON: Shares in Aviva shot up almost 9% on Friday, after Britain's Times newspaper cited talk of a possible takeover of one of...
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.