(L to R)-R Venkatachalam Iyer, MD & CEO Tata AIA, Amit...
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China pushes commercial insurers in bid to boost local biotechs
The 3.5 trillion yuan ($486 billion) fund — which covers medical...
FSIB panel headed by BS Sharma gets one year extension
For insurance sector appointment, Usha Sangwan, former Managing...
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...
LIC’s debt exposure in Adani group cos dips marginally to Rs 6,183 cr as of March 5
LIC's exposure in Adani Power (Mundra) was Rs 266 crore, Adani Power Maharashtra Ltd - Phase I (Rs 81.60 crore), Adani Power Maharashtra Ltd - Phase III (Rs 254.87 crore), Raigarh Energy Generation Ltd (Rs 45 crore) and Raipur Energen Ltd (Rs 145.67 crore), as per the...
Transforming Life: Tapping the new Normal
MR Kumar, Chiarman, Life Insurance Corporation The Indian life insurance industry needs to gear up for the coming prosperity and be ready with its products, distribution channels and processes to meet the demands of the new normal The entire life insurance sector has...