The Committee of Creditors (CoC) of Reliance Capital has informed...
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LIC offices to be open on Sat, Sun and Monday
LIC on Friday said its branches will be open during the weekend and...
Insurance industry not expecting any large claims out of earthquake damages in Myanmar and Thailand
This is a significant human tragedy. Unfortunately, there will be a...
FSIB to interview 6 sr LIC officials on Monday to select 2 MDs
Year 2023 will see complete change of LIC's top management, as starting with Kumar, other three MDs, BC Pattanaik, Mini Ipe and Siddarth Mohanty along with MR Kumar,chairman will be retiring in next six months New Delhi: The Financial Services Institution Bureau...
Budget- 2023-24:FM may announce sops for middle class
Nirmala Sitharaman, Union Finance Minister The insurance industry has been pitching for a separate tax deduction provision for life insurance, tax waiver for annuity income, and higher deductions for health insurance premiums. New Delhi: The finance ministry is...
India Protection Gap: Term insurance ownership remains stagnant
The following findings reveal insights that highlight urban India’s shift in attitude and approach towards financial preparedness as shown in a survey-India Protection Quotient 5.0,fifth edition(1st edition of the survey was done in 2019) conducted by Max Life...
Post Covid, insurance awareness rises : Max Life’s survey
Prashant Tripathy, managing director and CEO, Max Life Insurance India has begun recognizing the real value of term insurance, ownership remains an area of challenge that the life insurance industry will need to work hard to address New Delhi: A survey, by Max Life...
Budget Wishlist: Insurers expect for tax concessions to push industry’s growth
Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers The industry players are also...
SBI Life Insurance Q3 profit falls over 16% to Rs 304 crore
The asset under management (AUM) grew by 17 per cent from Rs 2,56,870 crore as on December 31, 2021 to Rs 2,99,990 crore as on December 31, 2022 with debt-equity mix of 71:29, it said Mumbai: Private sector SBI Life Insurance on Saturday reported more than 16 per cent...
Indian insurance industry needs Rs 50k annual investment for doubling its growth in 5 yrs
Debasish Panda,chairman, IRDAI "If we have to double the penetration, every year there is a need to infuse an additional Rs 50,000 crore. While half of these funds need to be generated by the insurers internally, the other half has to mobilised from markets and...
NCLT directs lenders to maintain status quo on Reliance Capital matter
Torrent Investments had filed a plea seeking the tribunal to quash the lenders' plans to hold a fresh auction for the takeover of the Anil Ambani-promoted Reliance Capital. Torrent Investments was the highest bidder offering Rs 8,640 crore Mumbai: The National Company...
HDFC Life Q3FY2022-23 profit rises by 15 pc to Rs 315 crore
Vibha Padalkar, MD & CEO said,``In Q3 fy2022-23, we grew by 17% in terms of Individual Weighted received premium( WRP). On a year to date (YTD) basis, we grew by 13% leading to a market share of 15.8% amongst private insurers. Our distribution network has been...
Claims and reinsurance costs impacting on Indian insurers’ profitability
"India's privately-owned insurers, where foreign shareholdings are concentrated, have cut their exposure to high risk assets and have been early adopters of actuarial-led reserve management and risk-based capital management. This has and will continue to help private...