LIC to file draft IPO papers with Sebi next month
Country's largest insurer LIC is likely to file draft papers with Sebi by November for the largest IPO in country's history, a finance ministry official has said. "We target to…
LIC gets RBI approval to hike stake in KMB to 9.9%
Life Insurance Corporation of India has received approval from the RBI to raise its stake in Kotak Mahindra Bank to up to 9.99%, the bank informed the stock exchanges on…
LIC pulls life insurers’ new biz premium down by 5%
After recording impressive growth in September, new business premiums (NBP) of 24 life insurance companies degrew 5 per cent year-on-year (YoY) in October, mainly due to Life Insurance Corporation (LIC)…
LIC switching focus to non-par policies
LIC of India, is seeking to change its product mix such that policies rewarding equity investors gain a bigger share of business while maintain its dominance in a rapidly expanding…
LIC IPO expected to hit market by Q4
Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey has said that the much-awaited LIC IPO is expected to hit the market by the fourth quarter of the…
Shriram General’s Fire Loss of Profit insurance gets sandbox nod
Shriram General Insurance fire Loss of profit product has got sandbox nod. This product covers the loss of gross profit or income and / or the increase in working costs…
Crop Insurance Claims at Rs 9,570 Cr for 2020-21 Lower by Over 60% from Previous Year
There has been more than 60 per cent decline in the crop insurance claims of farmers at Rs 9,570 crore under the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the…
General insurers log Rs 17,679 crore premium in Oct
Indian non-life insurance segment closed October 21 on a positive note with a total premium of Rs 17,679.98 crore, said Insurance Regulatory and Development Authority of India (IRDAI). According to…
Drones may be deployed to expedite crop insurance claim settlements
Agriculture Insurance Company (AIC) of India Limited, is in discussions with various commodity boards for exclusive crop-specific insurance schemes. A senior official of the Agriculture Insurance Company said that one…
Insurance industry adoption of environmental, social and governance practices driven by long-term climate change, says GlobalData
Environmental, social and governance (ESG) practices have become more than a buzzword, with businesses across all market sectors including the insurance sector, making efforts to adopt and integrate ESG practices…