LIC profit jumps 466% in Q4
Life Insurance Corporation of India has recorded a standalone net profit of Rs 13,427.8 crore for the quarter ended March FY23, a rise of 466 per cent over the corresponding…
LIC’s Adani portfolio value up 54% from Hindenburg
The value of Life Insurance Corporation’s investment in the Adani group companies went up to Rs 44,664 crore, marking a 54 per cent rise from the recent lows of Rs…
LIC relaxes claims process for Odisha train victims
Life Insurance Corporation of India announced various reliefs for claim settlements of victims of the triple train accident in Odisha’s Balasore district. The national insurer said it will expedite claim…
SAT stays transfer of Sahara’s biz to SBI Life
The Securities Appellate Tribunal (SAT) has stayed the order by the IRDAI, transferring the business of Sahara India Life Insurance (SILICL) to SBI Life. This is the second time that…
SBI Life to take over 200,000 Sahara policies
IRDAI has identified SBI Life Insurance to take over liabilities of about 200,000 policies of Sahara India Life Insurance (SILIC) as the latter failed to comply with regulatory directions, amid…
IndiaFirst Life gets Sebi nod for IPO
IndiaFirst Life Insurance, promoted by Bank of Baroda, has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The life…
GST authorities summon insurance intermediaries
Widening its probe in the bogus invoicing case against insurance intermediaries and aggregators, the Goods and Services Tax (GST) authorities issued summons to several of them seeking extensive information. The…
Insurers seek hike in tax deduction limit
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income…
Gadkari wants surety bond insurance for infra projects
Gadkari recently launched India’s first surety bond insurance product for highway contractors, from Bajaj Allianz Insurance. Seeking rapid growth for the product, Gadkari said he would approach the finance ministry…
Wealthy Indians under scanner over foreign Life Insurance Policies
Many rich Indians, some belonging to the community of diamantaires, are under probe by the income tax department for holding foreign life insurance policies running into millions of dollars. Most…