Intermediaries

M. R. Kumar, chairman,Life Insurance Corporation

Banks should sell life insurance products more aggressively:LIC chief

Indian News       Jan 10, 2020

  Pune: M. R. Kumar, chairman,Life Insurance Corporation(LIC), has suggested two keyways to increase the life insurance penetration in the country: first the banks need to sell aggressively to their existing customers and the insurance companies need to go extensively to recruit agents. ``As far as...

Cholamandalam GI and Toyota Tsusho lnsurance Broker penalised for violating MISP norms

Indian News       Jan 09, 2020

  Hyderabad: Even as Maruti lnsurance Broking Hero lnsurance Broking lndia  have brought stays from the Securities Appellate Tribunal (SAT) against IRDAI's decision to fine them for violating  the Motor lnsurance Service Provider (MISP) norms, the insurance regulator continued its punitive actions against more players on...

IRDAI slaps a Rs 3 cr penalty against Aditya Birla Insurance Brokers for violating MISP norms

Indian News       Jan 07, 2020

  Hyderabad: Regulator IRDA has slapped a fine of Rs 3 crore against Aditya Birla Insurance Brokers Limited (ABIBL), a part part of Aditya Birla Group,  for violating the Motor lnsurance Service Provider (MISP) norms.   The IRDA thus far has taken actions against three large brokers, ...

Prudential Vietnam and SeABank establish exclusive bancassurance partnership

International News       Jan 06, 2020

HONG KONG, CHINA: Prudential Vietnam Assurance Private Limited ("Prudential Vietnam"), a subsidiary of Prudential plc, and Southeast Asia Commercial Joint Stock Bank ("SeABank") have entered into an exclusive bancassurance partnership with a 20-year term.   Prudential Vietnam will also become the preferred life insurance provider to...

Gallagher expands Asian presence with stake in specialist Malaysian broker

International News       Jan 06, 2020

  Chicago: US based Gallagher today announces that it has extended its investment in Asia with the acquisition of a minority stake in specialist Malaysian broker SP&G Insurance Brokers Sdn Bhd (“SP&G”). Terms of the transaction were not disclosed.   The deals extends Gallagher’s strategic development in...

Insurance intermediaries with majority foreign stake can't repatriate over 75% as dividend: IRDAI

Indian News       Jan 03, 2020

  Hyderabad: Insurance intermediaries with majority foreign stake can't repatriate over 75% as dividend: IRDAIInsurance intermediaries having majority foreign holding cannot repatriate dividend more than 75 percent of the net profit and if there is any extra-ordinary profits or income, the dividend payout ratio should be...

Reinsurance markets diverge at 1.1 renewal:Willis

International News       Jan 02, 2020

  London:Singapore:  Reinsurers have been judicious during the 1.1 renewal period, leading to significant pricing and capacity variance depending on geography, product line, loss record, and individual client relationships. As a result, the renewal season has concluded later than in previous years, according to the latest...

IRDA slaps Rs 2.18 cr of fine against Hero lnsurance Broking lndia for violating MISP norms

Indian News       Dec 31, 2019

   Hyderabad: After penalising Maruti lnsurance Broking with a fine of Rs 3 crore on Monday, for violating various provisions of Motor lnsurance Service Provider (MISP) the insurance regulator IRDAI has slapped a penalty of Rs 2.18 crore against Hero lnsurance Broking lndia on Tuesday on...

Maruti lnsurance Broking fined Rs 3 cr by IRDAI for violating motor insurance norms

Indian News       Dec 30, 2019

   Hyderabad: Insurance regulator, IRDAI on Monday has slapped a fine of Rs 3 crore against Maruti lnsurance Broking, the largest broker in the country, for violating various provisions of the Motor lnsurance Service Provider (MISP) norms.   Further, taking  serious note that  the affidavit submitted by...

To strengthen conduct, Sebi asks investment advisers to do risk profiling

Indian News       Dec 27, 2019

  New Delhi: To further strengthen the conduct of investment advisers, markets regulator Sebi on Friday asked them to do proper risk profiling of clients and obtain their consent on the same before providing any advice to such investors.   The regulator also restrained investment advisers from...

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