Kotak Life to expand distribution
Kotak Life Insurance is hopeful that the worst of the pain from the pandemic is over and is now working on an expansion strategy. “We will be expanding our distribution…
Life Insurers to get annuity boost
Life and general insurance companies may see a divergence in their fourth-quarter earnings as life insurers are expected to continue seeing robust demand for annuity schemes that will help offset…
SBI research report bats for nil GST on insurance premiums
Taxing insurance premiums at 18 per cent at a time when insurance penetration in the country is merely 4.2 per cent is, perhaps, not the best way forward. Instead, the…
IDBI Bank to sell entire stake in life insurance arm to JV partner
IDBI Bank will offload its balance 25 per cent stake in Ageas Federal Life Insurance Company (AFLI) to Ageas Insurance International NV. The board of directors has approved to sell…
Sebi may postpone implementation of tougher norms for LIC IPO
Sebi has proposed to postpone the implementation of tighter anchor investor norms for large IPOs. Bankers said the move is aimed at facilitating better institutional participation in the upcoming initial…
LIC IPO set to open May 04, price band likely at Rs 902-949/share
Life Insurance Corporation (LIC) has fixed the price band for its initial public offer (IPO) at Rs 902-949 a share. The issue, which will remain open for retail investors from…
Life insurance companies new business premium rise 37% in March
Life insurance companies have recordedanincrease of 37 percent in new business premiums (NBP) to Rs 59,608.92 crore in March 2022, with LIC recording 51 percent surge in first-year premiums. In…
Government approaches foreign sovereign, pension funds to be anchor investors in LIC public issue
The Central Government has approached the sovereign wealth and pension funds to be anchor investors for the upcoming public issue of LIC. These sovereign wealth and pension funds include the…
LIC chairman’s term extended by a year
The Centre has extended the term of the incumbent Chairman MR Kumar by one more year. This is expected to ensure continuity at leadership level and provide comfort to key…
LIC Board approved minimum 3.5% stake dilution via IPO, can raise limit to 5%
The Board of Life Insurance Corporation (LIC) of India is learnt to have agreed on diluting 3.5% stake in the country's largest insurer, even as it keeps the 5% stake…