Axis bank may pick up 20%-30% stake in Max Life

Indian News       Feb 20, 2020

  Mumbai: Axis Bank, Max Financial Services Limited (MFS) and its subsidiary Max Life Insurance Company Limited (Max Life) today signed a confidentiality and exclusivity arrangement to explore the possibility of Axis Bank picking up 20 per cent -30 per cent in Delhi based Max Life.   ...

(L-R) Bhargav Dasgupta, MD & CEO, ICICI Lombard GIC,Sunil Sharma, President, Institute of Actuaries of India and S C Khuntia,chairman, IRDAI at the 21st Global Conference of Actuaries in Mumbai

No plans to make listing mandatory for insurers:IRDAI chief 

Indian News       Feb 18, 2020

Mumbai: Insurance watchdog Irdai is yet to get any proposal from life insurance behemoth LIC on an initial public offering but feels a listing is better from a governance perspective, chairman S C Khuntia said on Tuesday.   He also said that there is nothing for...

Chinese province launches insurance for businesses hit by coronavirus

International News       Feb 17, 2020

  China’s southern province of Hainan has launched the first specially-designed insurance product to cover losses incurred by businesses as a result of the coronavirus outbreak in the country, the banking and insurance regulator said.   The scheme has set aside 200 million yuan ($28.7 million or...

No proposal to merge LIC Housing Finance with any other entity: LIC

Indian News       Feb 17, 2020

  Mumbai: Life Insurance Corporation on Monday said there is no proposal to merge its subsidiary LIC Housing Finance Ltd (LICHFL) with any other entity.   The statement came after some reports suggested that insurance behemoth LIC might expedite the process of merging LICHFL with its banking...

AIA Singapore offers free COVID-19 coverage for its 1.4 million customers, employees and tied representatives

International News       Feb 17, 2020

Singapre: AIA Singapore today announced that all existing 1.4 million eligible customers1, its employees and tied representatives will automatically benefit from free additional coverage1 to eligible customers as part of the insurer's proactive efforts to protect individuals against the ongoing threat posed by the Coronavirus...

6-7% LIC stake dilution enough to mop up ₹90,000 crore: CEA KV Subramanian

Indian News       Feb 16, 2020

NEW DELHI : The government's ₹2.1 lakh crore sell-off target is achievable with half of this amount expected to be met through the spill-over deals of Air India, BPCL and Concor and the remaining ₹90,000 crore through just 6-7 per cent stake dilution in state...

Association of stock brokers ANMI to mobilise 10 mn investors for LIC IPO

Indian News       Feb 16, 2020

  New Delhi: Association of stock brokers ANMI on Saturday said it will mobilise 10 million investors for the initial public offering of insurance behemoth LIC in order to unlock the true potential of the country's crown jewel, akin to the Saudi Aramco.   Finance Minister Nirmala...

Negative interest rates turn saving, borrowing upside down

Articles       Feb 14, 2020

  FRANKFURT: Imagine a mortgage that pays you the interest, not the other way around. Or a savings account where it's the bank, not the saver, who collects interest.   Welcome to the upside-down world of ultra-low and negative interest rates that is taking hold in many...

Sunil Sharma, President Institute of Actuaries of India.

IAI to host 3-day 21st Global Conference of Actuaries in Mumbai from Feb 17

Indian News       Feb 12, 2020

  Mumbai:  Institute of Actuaries of India (IAI)  all set to organise the 21th Global Conference of Actuaries from 17th February to 19th February, 2020 in Mumbai.  The global conference will be conducted with a flavour of grandeur and admiration of the Indian Actuarial Profession on...

Bill Coen appointed chair of the IFRS Advisory Council

International News       Feb 11, 2020

  London: The Trustees of the IFRS Foundation have appointed Bill Coen as Chair of the IFRS Advisory Council, effective immediately.   The Advisory Council supports the Trustees by providing strategic advice. Coen has been appointed to chair the Council and consider how to improve its effectiveness.  ...

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