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Cooperation Min Amit Shah says 17,176 PACS registered so far to function as Common Service Centres

by AIP Online Bureau | Jul 23, 2023 | Data, Eco/Invest/Demography

These PACS will be able to provide all the services listed on the Digital Seva Portal of CSC scheme to citizens, including banking, insurance, Aadhaar enrolment/update, legal services, agri-inputs like farm equipment, PAN card, IRCTC, rail, bus, and air ticket-related...
Reliance’s financial unit valued at $21 bn, to venture into life and general insurance soon

Reliance’s financial unit valued at $21 bn, to venture into life and general insurance soon

by AIP Online Bureau | Jul 20, 2023 | Indian News, Life, Non-Life, Technology

The group aspires to foray into non-lending financial businesses like life/ general insurance and AMC where it can even take the inorganic route and benefit from recent regulatory change that allows banks to have up to nine insurance partners. Mumbai: Jio Financial...

Bain Capital raises $1.15 bln for first fund dedicated to insurance investments

by AIP Online Bureau | Jul 19, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance

Matt Popoli, global head of Bain Capital Insurance, told Reuters that the new capital pool, Bain Capital Insurance Fund, would give his 20-strong team the ammunition to back middle-market insurance firms overlooked by others Focused on North America and Europe, the...

Higher losses during disasters due to abysmally low insurance cover of 8%: SBI Report

by AIP Online Bureau | Jul 17, 2023 | Data, Disaster & Management, Eco/Invest/Demography, Non-Life, Reinsurance, Risk Management

The losses due to the ongoing floods in the north is the range of Rs 10,000-15,000 crore as the calamity has severely hit Himachal Pradesh, Uttarakhand, Punjab, Uttar Pradesh, Rajasthan, J&K and Delhi. Himachal alone would have lost Rs 3,000-4,000 crore by way of...

IRCTC travel insurance: Passengers now automatically covered, can opt out too

by AIP Online Bureau | Jul 17, 2023 | Indian News, Non-Life

Passengers booking their train tickets on the IRCTC portal are now automatically provided insurance cover for Rs 10 lakh, a senior insurance industry official told IANS The policy covers death/disabilities/medical expenses due to a train accident during the travel....
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