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Over 1.3 crore get insurance cover through GeM in 2024-25
“GeM remains committed to continuously enhancing its platform to...
ICICI Pru Life’s net profit more than doubled to Rs 386 crore in Q4
ICICI Prudential's value of new business (VNB), or expected profit...
Deadline to submit bids for IDBI Bank privatisation to be extended till early Jan
The government on October 7 had invited bids for the EoI of IDBI Bank for which the last date is December 16. Both the government and Life Insurance Corporation (LIC) hold 94.71 per cent shares in the lender The deadline to submit preliminary bids for IDBI Bank...
Govt may seek a private sector chief to lead LIC – sources
"The government is planning to broaden the eligibility criteria for appointment of LIC CEO so that private sector candidates can apply," said one of the government officials, who declined to be identified as the discussions are private New Delhi: India aims to appoint...
Differences emerge between lenders, advisors over resolution plan options for RCL; lenders meet on Tue
Deloitte, the process advisor of Reliance Capital Ltd (RCL) Administrator Y Nageshwar Rao, is of the opinion that the value of the bids is almost 70 per cent below the liquidation value of Rs 13,000 crore, sources said. Mumbai: Differences have emerged between lenders...
Overhauling Regulations: Time for spurring long-term sustainable growth
Unless the existent issue of muted demand for insurance, especially life insurance products, is not acknowledged and addressed by the regulator and the industry, such supply-side proposals alone will not be adequate to spur sustainable growth, says a report by Emkay...
Govt proposes scrapping of minimum capital for insurers
The department of financial services (DFS) has said these amendments would enhance the financial security of policyholders, promote their interests, and improve their returns New Delhi: Revamping the existing regulatory frame work, the finance ministry has proposed...
Independent valuers give Rs 13,000 crore liquidation value for Reliance Capital
According to Duff and Phelps' valuation report, the liquidation value of Reliance General Insurance is Rs 7,000 crore, and Reliance Life Insurance is Rs 4,000 crore. On the other hand, RBSA has given a liquidation value of Rs 7,500 crore and Rs 4,300 crore for...
Govt gears up for amending Insurance Acts to overhaul sector, may go through in Budget Session
On Wednesday, the department of financial services, through an office memorandum has asked for public comments on the proposed amendments by December 15 The proposed amendments primarily focus on enhancing the financial security of the policy holders, promoting policy...
COC rejects all bids for Reliance Capital, decides liquidation: sources
The option 1 bidders are Hinduja, Torrent, Oaktree, Cosmea Financial and Piramal consortium, and UAVRCL. Out of these five bidders, UVARCL has bid on a fee basis, which means that it has not submitted any resolution plan for RCAP. It will further sell RCAP assets and...
SCOR completes a £1.7 billion longevity transaction with Balfour Beatty Pension Trust
Frieder Knüpling, SCOR, CEO Life & Health, said: “This transaction underlines SCOR’s strong appetite to deliver longevity solutions to our clients. Recent world events have brought life and health risks into sharp focus and now, more than ever, we are seeing...
YES BANK partners with Turtlefin
Mumbai: TurtleFin, an insurtech platform, has partnered with YES BANK, to sell insurance products to bank's customer through its technology platform – EasyNsure.The platform is already live with over 40 life and general insurance plans being readily available for...