Siddartha Mohanty, MD & CEO, Life Insurance Corporation `Our...
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Allianz exits 2 Bajaj insurance JVs by selling its 26 % for Rs 24,180 crore, to set up new Indian insurance companies
Allianz, which had invested just Rs 174 crore in both the JVs way...
Religare Enterprises seeks governance review, funding from Burman family
The objective is to review past operating practices, suggest...
Max Fin Services gets Irdai nod to acquire 5.17% stake of Mitsui Sumitomo in Max Life
The transaction entails the purchase of 9.91 crore shares of Max Life at Rs 85 per share by MFSL, the parent company of Max Life Post completion of MSI balance stake buyout of 5.17 per cent, MFSL's shareholding in Max Life will increase to 87 per cent New Delhi: Max...
Battle for Reliance Nippon Life Insurance: Nippon top brass likely to visit India
To counter the Aditya Birla bid, Nippon Life is also preparing to bid for Reliance Capital's 51 per cent stake in RNLIC in partnership with an Indian company, as Indian regulations restrict the holding of foreign companies in the insurance sector at 74 per cent...
IRDAI eases norms for PEs to invest in insurance cos, Corporate agents can tie up with 9 insurers, Kshema General Insurance receives license, 19 pending
Corporate agents can tie up with 9 insurers (earlier 3 insurers) and Insurance Marketing Forms (IMF) can tie up with 6 insurers (earlier 2 insurers) in each line of business of life, general and health for distribution of their insurance products. The area of...
IRDAI plans to launch social safety net product “Bima Vistaar” on Bima Sugam
(Lto R)Thomas M Devasia, member-Non-Life, IRDAI, B C Patnaik, MD,LIC at 14th Assocham Global Insurance Summit Thomas M Devasia, member-Non-Life, Insurance Regulatory and Development Authority of India said, “We are working on certain broad-based initiatives towards...
Shriram Financial Ventures to be Shriram Group’s holding company
Following the merger, Shriram Financial Ventures (Chennai) Pvt Ltd, which was the holding company of Shriram Capital Ltd, would now become the promoter and holding company of the financial services and insurance businesses of the group Chennai: Shriram Capital Ltd,...
IRDAI proposes single management expense limit for insurers
It also proposed that there should be no variable pay to Managing Director (MD), Chief Executive Officer (CEO), Whole-Time Directors (WTD) and Key Management Persons (KMPs) for the financial year in which the actual expenses exceed the projected expenses by more than...
SAT upholds IRDAI’s rulings against Go Digit on combi product
IRDAI after examining Go Digit’s “Digital Group Total Protect Policy” filed under `Use and File’ norms had asked the company to withdraw the product as some of its features fall under life insurance products and can’t be offered by a general insurance company...
Chubb receives regulatory approval to increase its Huatai stake to 83.2%
"China is currently the second largest insurance market after the United States. With an aging and more affluent society comes the growing demands for insurance and asset management products and services. We take a long-term view, and I am confident Huatai will grow...
MP: Youth kills father for Rs 10 lakh insurance money in Barwani, arrested
When the police team check the CCTV footage and cyber reports, they grew suspicious and interrogated the people concerned then it came to light that Anil along with three others hatched a conspiracy to kill his father Barwani, Madhya Pradesh: A youth hatched a...
InsuranceDekho partners with LIC
Insurtech InsuranceDekho has partnered with Life Insurance Corporation of India (LIC) to sell the corporation's products on its platform. Ankit Agrawal, CEO, and Co-founder, InsuranceDekho, said, “We will leverage the best technology, POSP partner practices, and...