LIC hikes stake in Dena Bank
LIC has acquired an over 4.5 per cent stake in public sector lender Dena Bank in preferential allotment of shares over a period of nearly three months to mid-September. LIC,…
Air India saves Rs.26 crore in insurance premium
Air India has saved close to $4 million (Rs.26 crore) in the insurance premium it has to pay for getting its fleet of over 100 aircraft insured for 2017-18, a…
To Life and General Insurers (Including Standalone Health Insurers)
The Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 Central Government vide gazette notification dated 1st June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules,…
Why autistic kids need a ‘special’ health cover
As child-centric disorders like autism get diagnosed more often, insurance companies are looking to provide standalone products or add-ons to existing ones. Currently, not many insurers have children-specific offerings, but…
GIC Re IPO subscribed 1.37 times on last day
The IPO of GIC Re was subscribed 1.37 times on Friday, the last day of the share sale. The portion of shares reserved for institutional investors in the GIC Re…
LIC arm files insolvency suit against DB Realty
LIC Housing Finance (LICHF) has filed an application at the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against DB Realty. The developer, in a notice to the stock…
100 more drugs to be available at OTC
The government is set to expand the basket of over the-counter (OTC) medicines by adding around 100 new drugs which are currently sold on prescription in an attempt to make…
Insurers may see spike in demand for Directors and Officers Liability Policies
General insurers are likely to see a surge in demand for their Directors' and Officers' Liability (D&O) policies after the Kotak Panel has suggested that such a cover be made…
IRDAI asks Insurers to conduct cyber security audit
Insurance Regulatory and Development Authority of India has directed insurers to conduct security audit of their Information and Communication Technology (ICT) infrastructure. The insurers should take `immediate steps' for conducting…
PNB MetLife Insurance appoints new MD and CEO Ashish Kumer Srivastava
PNB MetLife India Insurance has appointed new MD and CEO Mr.Ashish Srivastava. He will be responsible for leading all aspects of the business in the country. Prior to this elevation,…