AIG launches sale stake in former Asian unit AIA
American International Group Inc launched the sale of a stake in its former Asian unit AIA recently, providing the insurer with funding to help repurchase up to $5 billion of…
New business income of life insurers gain 16% in April-July
LIC’s income rose 23% to Rs. 238.58 billion during April-July
LIC to invest Rs. 500 bn by FY12-13
Life Insurance Corporation of India (LIC) is planning to invest Rs. 500 billion in equities in the financial year 2012-13.
LIC settled Rs 21.86 lakh claims in 2011-12
Life Insurance Corporation of India (LIC) has settled 21.86 lakh claims amounting to Rs 4,389.79 crore in the financial year 2011-12. This was announced by zonal manager of East Central…
LIC of India celebrates foundation day
The Life Insurance Corporation Of India (LIC) is celebrating its foundation day by making the first week of September as 'insurance week'. For this, the LIC employees and authorities have…
Reliance Capital announces special dividend to its shareholders
On the occasion of the 25th anniversary of the company, Reliance Capital chairman Anil Ambani announced a special interim dividend for its shareholders, and said the company is in talks…
Insurance norms may be tweaked for infrastructure push
Finance minister P Chidambaram met insurers recently to discuss steps to channelise their long-term savings into infrastructure sector and other issues relating to the sector.
‘Agents still the backbone of insurance industry’
Inadequate product pricing leaves the end user feel short-changed. An appropriate pricing, on the other hand, leads to innovations, better distribution and reach and reliable customer service. Tapan Singhel, MD…
Protest against firing at insurance company
Several trade unions and members of the civil society recently condemned the attack on employees of the government-owned General Insurance subsidiary National Insurance Company Ltd by anti-social elements.
26/7 deluge victim wins 4 lakh insurance payout
Seven years after the July 26 deluge, a consumer forum recently ordered the New India Insurance Company Ltd to pay a Juhu resident Rs 3.84 lakh he had claimed after…