CCI approves acquisition of stake by HDFC in 2 insurers
The Competition Commission of India (CCI) granted its approval to mortgage lender HDFC to acquire a certain stake in HDFC Life Insurance Company and HDFC ERGO General Insurance Company Ltd.…
GST violations case: Finmin refuses to act on industry plea, refers matter to IRDAI
The finance ministry has declined to intervene in a plea for relief made by the insurance industry, which is facing penal action from tax authorities for goods and services tax…
Expansion in value of new business to be driven more by volumes: ICICI Pru Life MD
Expansion in value of new business (VNB) for ICICI Prudential Life Insurance is now likely to be driven more by volumes rather than margins, according to MD and CEO NS…
Bajaj Allianz, ICICI Pru face tax evasion charge
India's tax authority has sent Bajaj Allianz Life Insurance and ICICI Prudential Life Insurance show-cause notices for evading taxes since 2017, as part of a probe spanning 16 insurers and…
Siddhartha Mohanty appointed as new LIC chairman till June ’24
The government appointed Siddhartha Mohanty as the Chairperson of the Life Insurance Corporation of India (LIC) till June 29, 2024. Mohanty, the current Managing Director, has been serving as the…
HDFC Life Q4 net flat at Rs. 358.6 crore
HDFC Life has reported a consolidated net profit of Rs 359 crore for the quarter ended March 2023, almost unchanged from Rs 357 crore clocked in the corresponding period of…
SBI Life registers Rs. 777-crore profit in Q4
SBI Life Insurance Company has declared a net profit of Rs 777 crore for the fourth quarter of the fiscal year 2022-23, which is 15 percent higher against Rs 672…
Shriram Life Insurance posts Rs. 156 crore net in FY23
Shriram Life Insurance posted a profit after tax (PAT) at Rs 156 crore in FY-23 on the back of growth in individual non-single premiums. A year ago, the company reported…
Canara HSBC Life Insurance unveils new “Smart Guaranteed Pension”
Canara HSBC Life Insurance has announced the launch of Smart Guaranteed Pension, a guaranteed annuity product that provides premium paying flexibility and ensures a regular guaranteed income stream that will…
LIC’s knock-on effect: Insurers’ new business premium drops 12.6%
The new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation…