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Working millenials not saving enough for their retirement

“While it could be assumed that millennials have plenty of time to save for retirement, they have to shoulder more responsibility than their parents and grandparents to do so, Compared to older generations, millennials are less likely to have employer-provided pension or defined benefit retirement plans. Additionally, millennials are likely to live longer,” said Rui Yao, associate professor at University of Missouri.

9 battle it out for IRDA chairmanship

Along with S Khuntia, a former chief secretary, Karnataka, eight other candidates including Nilesh Sathe, member(Life), IRDAI, BS Bhandari, member, PFRDA,  G Srinivasan, CMD, New India Assurance, AV Girija Kumar, CMD, Oriental Insurance Company, VK Sharma, chairman, Life Insurance Corporation(LIC)  and three managing directors of the LIC – Hemant Bhargava, Sunita Sharma and B Venugopal, were interviewed by a five -member panel headed by cabinet secretary PK Sinha. .

Axa in Advanced Talks to Buy U.S. Insurer XL Group

Buying XL, which sells insurance to other insurers, would bolster Axa’s casualty coverage business in the U.S., and mark the biggest insurance deal since 2015, according to Bloomberg data. Such firms have become ripe takeover targets as policy prices begin to increase after firms booked heavy losses last year due to a spate of natural disasters.

India-So far 80% bank accounts, 60% mobile connections linked with Aadhaar

Out of the 1.09 billion banks accounts, almost 870 million have been seed with Aadhaar, said the official of the Unique Identification Authority of India (UIDAI), which issues the national ID number.Of this, 58 0 million have already been verified while in case of the rest the authentication process is underway with the documents that have been submitted to the banks, the official said.