Rakesh Joshi, chairman, Bima Sugam India Federation Joshi as a...
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LIC launches a new product- Nav Jeevan Shree
Life Insurance Corporation has launched a new product Nav Jeevan...
Axis Max Life Insurance reports cyber threat
Indian firms such as Angel One, Niva Bupa Health Insurance and Star...
LIC,GIC Re and NIA continue to be listed as D-SIIs in 2022-23:IRDAI
Domestic Systemically Important Insurers refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system, said the Irdai Hyderabad: Life...
India’s $1 trillion sovereign bond market sees rising clout of insurers
“Insurance companies have been one of the key investors in long-maturity bonds,As the penetration and reach of distribution channels increase, we expect that the growth in the sales of the traditional products to continue to grow, and consequently the demand for...
IRDAI removes caps on commissions paid to intermediaries within Expense of Management(EOM)
The government last Sunday has notified the new regulations, as approved by insurance regulator IRDAI , on the removal of cap on payment of commission to the intermediaries Oveall limit of Expense of Management(EoM) for the insurers will be fixed by insurance...
IRDAI approves new expense of management for insurers, allows higher intermediary commissions within EOM
New measures to be effective from Apr 1 The IRDAI also approved licenses of two new life players-Acko Life Insurance and Credit Access Life Insurance Hyderabad: With a bit of delay, insurance regulator IRDAI had its last board meeting of the current fiscal, FY2022-23,...
RCAP resolution plan: Roadblock as bidders upset over another auction plan
According to the sources, Torrent has recently conveyed to the lenders that it is not willing to participate in the second round of auction The other bidder -- IndusInd International Holdings Ltd (IIHL) of Hinduja Group -- has also told the lenders that it wants to...
LIC plans investment exposure caps post Adani share rout
Currently, the insurer cannot invest more than 10% of outstanding equity in a company and 10% of the outstanding debt. New Delhi: The Life Insurance Corp. of India (LIC) is planning to impose caps on its debt and equity exposure to companies, two sources said, in a...
FSIB selects Siddhartha Mohanty as chairman of LIC
Siddhartha Mohanty,acting chairman and managing director Life Insurance Corporation Currently, Mohanty is acting chairman of the country’s biggest life insurance firm after the completion of the term of MR Kumar on March 13, 2023. After becoming LIC chairman, Mohanty...
LIC’s 4 MDs battle out today for corporation’s chairmanship
The four MDs who are facing the interview are- Siddhartha Mohanty, Mini Ipe, BC Patnaik and M Jagannath Since, some of the top bureaucrats who are part of FSIB , are busy during the Budget session of Parliament, the interview is being conducted virtually...
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...