LIC’s unclaimed money tops many ministries’ budgets
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest…
Aditya Birla Sun Life Insurance and Bharat Co-operative Bank (Mumbai) Ltd. Ink Bancassurance Partnership
Collaboration to offer life insurance solutions of Aditya Birla Sun Life Insurance through Bharat Co-operative Bank’s (Mumbai) 103 plus branches Aims at combining synergies to enhance the reach of life insurance products Aditya Birla…
General insurance industry in Hong Kong to cross $10bn in 2026, forecasts GlobalData
Hong Kong general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.6% from HKD57.2bn ($7.4bn) in 2021 to HKD78.6bn ($10.1bn) in 2026, in terms of gross…
Insurer gets time till Jan ’23 to dispose of ‘other investments’
Life Insurance Corporation (LIC) has received the insurance regulator's nod for time till January-end 2023 to dispose of investments in pension, group and life annuity funds, which do not fall…
LIC fares well in cost to premium ratio
Life Insurance Corporation (LIC), which has a nearly two-thirds market share, fares well in agent productivity and in cost-to-premium ratio. According to the draft prospectus filed by the insurer ,…
Govt files LIC DRHP, may mop up Rs. 1-lakh cr
LIC filed its draft red herring prospectus (DRHP) with SEBI.The issue is completely an offer for sale of 31,62,49,885 equity shares by the promoter, which holds a 100 per cent…
IRDAI red-flags LIC investment in IFSC
Life Insurance Corp. of India's (LIC's) bid to buy 15% in India International Exchange (IFSC) Ltd (India INX), a stock exchange located in Gujarat's GIFT City, has been blocked by…
Irdai raises concern over govt move
The insurance regulator has raised corporate governance concerns over the government's move to appoint one person as chairman of two state-run insurers. The government had sought Insurance Regulatory and Development…
IRDAI wants insurers at par with banks on legal recourse for surety bonds
IRDAI has taken up the issue of insurers being treated at par with banks when it comes to recovery recourse available to them for the surety bond business and the…
IRDAI proposes to make policyholders less accountable while porting health policy
Soon, insurers may be solely responsible for collecting the policyholder's claims information from the existing insurer after porting of a health policy. As a result, insurers will not be able…