by AIP Online Bureau | Feb 16, 2025 | Indian News, Life, Policy, Regulation
After hearing Aviva’s defence, joint tax commissioner Aditya Singh Yadav ruled the company evaded tax of around Rs 32.6 crore ($3.8 million), which it must pay with a 100 per cent penalty, totalling Rs 65.3 crore, or $7.5 million, according to a February 5 order...
by AIP Online Bureau | Feb 15, 2025 | Eco/Invest/Demography, Indian News, Policy, Regulation
Prime Minister Narendra Modi “It is my conviction that there should be less interference of the government in the society. For this, the government is also going to constitute a Deregulation Commission,” PM Modi said New Delhi: Prime Minister Narendra Modi...
by AIP Online Bureau | Feb 15, 2025 | Eco/Invest/Demography, Indian News, Intermediaries, Life, Non-Life, Regulation, Technology
The implementation of Bima Sugam is going as planned and is now ready to be capitalized by Indian insurers, said the IRDAI Hyderabad: The unveiling of of IRDAI’s game changing move Bima Sugam might have been delayed but the portal for Bima Vahak’s, the localised...
by AIP Online Bureau | Feb 15, 2025 | Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation, Risk Management
Debasish Panda, chairman,IRDAI Distribution reforms in the pipeline were discussed which aim to empower individuals in the space of insurance intermediation through measures to enhance performance and productivity of the distribution channels, training and capacity...
by AIP Online Bureau | Feb 15, 2025 | Eco/Invest/Demography, Indian News, Policy, Workplace/Employee Benefits
The Bill introduces a new concept of ‘tax year’ as the 12-month period beginning from April 1. This would replace the present concept of assessment and previous year. Currently, income earned in the previous year (PY) say in the year April 2024 to March...
by AIP Online Bureau | Feb 14, 2025 | Briefs, Intermediaries, Non-Life, Regulation, Reinsurance
GIFT City based the IFSCA has cancelled the license granted to Prowess Insurance Brokers Pvt. Ltd. (PIBPL), to operate a Branch office in GIFT IFSC as IFSC Insurance Intermediary Office (IIIO). The action is taken in light of non-compliance with directions...
by AIP Online Bureau | Feb 14, 2025 | Eco/Invest/Demography, Health, Indian News, Regulation
With this ruling, the Burman Group’s open offer process remains on track, solidifying their acquisition bid for Religare Enterprises Ltd (REL) New Delhi: Capital markets regulator Sebi on Friday rejected Digvijay Laxhamsinh Gaekwad’s plea seeking an...
by AIP Online Bureau | Feb 14, 2025 | Indian News, Life, Technology
Siddhartha Mohanty, CEO & MD, LIC, said, “With the launch of the MarTech platform, LIC has taken the first leap on its bold new journey of digital transformation, one that will redefine customer engagement in the insurance sector. This initiative strengthens...
by AIP Online Bureau | Feb 14, 2025 | International News, Non-Life, Reinsurance, Risk Management
Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025 London: Convex Group Limited (“Convex”), the international specialty insurer and...
by AIP Online Bureau | Feb 13, 2025 | Indian News, Non-Life, Policy
“With improved risk-management practices, loss-control initiatives, adoption of technology, development of new products, better customer services and diversification of portfolio, the Public Sector General Insurance Companies have posted a magnificent turnaround...
