50-year bond ends life insurers’ wait
The central government has introduced a new dated security of 50-year tenor in its borrowing calendar for the second half of the current financial year—a long-standing demand by life insurance…
Insurers may get financial creditor status from govt
To make the surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditors in…
LIC’s market share drops to 59% from 68.7% in a year
The share of LIC in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022…
GST Council to clarify life insurance premium
The GST Council will soon provide clarity on input tax credit for life insurers, following a recent Rs 290-crore demand on Life Insurance Corporation — a move that is expected…
InsuranceDekho valued at $600 million in Series B round
Insurtech startup InsuranceDekho said it has raised $60 million in a Series B funding round led by Japan’s Mitsubishi UFJ Financial Group (MUFG); insurer BNP Paribas Cardif through its insurtech…
Life insurance firms’ new business declines 13% in first half of FY24
The life insurance industry has reported a lacklustre performance in the first six months of the financial year 2023-24 (FY24) with the new business premium falling 12.97 per cent, mainly…
Govt clears welfare measures for LIC employees, agents
Over 1 lakh employees and nearly 13 lakh agents of the Life Insurance Corporation of India (LIC) will have something to cheer, as the Finance Ministry approved welfare measures, including…
Max Life Insurance targets double-digit growth in new business premium this fiscal
Max Life Insurance is on an expansion spree, and is implementing a comprehensive plan focussed around channels, growth, new distribution buildup and product launches, its MD & CEO, Prashant Tripathy…
SBI Life Insurance finds big gap in Indians’ financial preparedness
A study by SBI Life Insurance, conducted in collaboration with Deloitte, highlights a concerning gap in the financial preparedness of Indian consumers. The Financial Immunity Study 3.0, titled ‘Demystifying the…
LIC employees, agents to benefit from finmin steps
The finance ministry announced a series of steps that will benefit around one lakh employees of LIC and 13 lakh agents of the state-run company. In the package for employees…