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Life insurers record marginal 5% rise in new premium collection in FY25, no of policies sold fell 7%
LIC's total new business premium rose just two per cent Rs 2.26...
HDFC Life’s net profit rises 15% to Rs 475 crore in Q4 FY 25
``As we enter our 25th year of existence, our aspiration remains,...
New York Life buys Max Financial Services’ shares worth of Rs 94 cr
MFSL is the holding firm for Max Life Insurance company and New York Life was its foreign partner in early 2000 Mumbai: A promoter entity of Max Financial Services Ltd (MFSL),Max Ventures Investment Holdings , on Wednesday offloaded the company's shares worth Rs 94...
Rural households prefer savings instruments over term insurance plans: Max Life Survey
Saving for children’s education and marriage emerged as top savings objectives, multiple anxieties around savings and expenditures for the future abound The low uptake of life insurance products in rural Indian can be primarily attributed to inadequate funds to buy...
IndiaFirst Life gets SEBI approval for its IPO
The public issue consists of a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) up to 141,299,422 equity shares by promoter and selling shareholders Bank of Baroda will offload about 89,015,734 equity shares, while Carmel Point...
FSIB to select a new LIC chairman soon
The chairman will be selected from the four managing directors of the company, sources said Currently, Siddhartha Mohanty, managing director of LIC, is acting chairman of the country's biggest life insurance firm after the completion of the term of MR Kumar on March...
Anup Bagchi to succeed Kanan as MD &CEO of ICICI Pru Life
Anup Bagchi, executive deirector, ICICI Bank To ensure a seamless transition, Bagchi has been appointed as ED & Chief Operating Officer of ICICI Pru Life with effect from May 1, 2023 subject to regulatory approval(s). Mumbai: ICICI Pru Life Insurance, on Thursday,...
U.S. insurers’ direct exposures to bank failures modest; Liability profiles support stability, says Fitch
Fitch's sector outlooks for U.S. Life and U.S. P&C are ‘neutral’ Insurers’ investments to the failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure to the failed banks (comprising...
China’s Ping An Insurance posts 17.6% drop in 2022 profit
“Household consumption recovery still faced many challenges, which continued to have an impact on Ping An’s long-term life & health protection insurance business,” it said. Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value,...
Govt unlikely to roll back tax plan on high-value life insurance, say govt officials
The move, which will come into effect for policies issued from April 1, has rattled insurers, with top company executives meeting Finance Minister Nirmala Sitharaman and finance ministry officials to petition them to reconsider the proposal. New Delhi: The Indian...
Govt clears appointment of 2 new LIC MDs, Jagannath joined on Monday
If IFSB decides to hold the interview for post of chairmanship of the corporation shortly then Siddath Mohanty, acting chairman, Mini Ipe,MD, M Jagannanth and Tablesh Pandey will be shortlisted as eligible candidates for the selection New Delhi/Mumbai The government...
Finance firms with $136 trln urge boards for more environmental data
For the first time, the questionnaire will also ask companies about plastics-related business risks, for example around packaging, and how they are addressing them The increase in demand for more information from companies comes as regulators across the world begin to...