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IRDAI appoints administrator for Sahara Life Insurance Company

IRDAI appoints administrator for Sahara Life Insurance Company

Insurance regulator IRDAI on Monday appointed an administrator to manage Sahara India Life Insurance Company, saying Subrata Roy-run insurer was "acting in manner" prejudicial to interest of subscribers.

Fixed deposits score big over equities, MFs for investment: Sebi Survey

More than 95 percent Indian households prefer to park their money in bank deposits, while less than 10 percent opt for investing in mutual funds or stocks, a new Sebi survey showed Wednesday.

 

Demonetisation: EPFO pensioners can submit life certificate till January 15

Demonetisation: EPFO pensioners can submit life certificate till January 15

Providing breather to its around 50 lakh pensioners amid difficulties being faced in banks due to demonetisation, retirement fund body EPFO has extended the last date for submission of life certificate till January 15.

ICICI Prudential Life will outpace market growth: Chanda Kochhar

ICICI Prudential Life will outpace market growth: Chanda Kochhar

"The company has had the tradition of growing faster than the industry and that gives us the comfort that the company will continue (to grow faster)," she told reporters, minutes after the first insurer to go public was listed on the bourses.

GST: Life insurers want exemption; general differential rates

As the GST rollout plans gathers momentum, life insurers sought exemption from the new taxation regime on premium income, while general insurers have demanded differential rates for their products.

10 new players apply to Irdai to start operations in India

10 new players apply to Irdai to start operations in India

Insurance Regulatory and Development Authority of India (Irdai) has received applications from ten new players to start operations in the country

PNB MetLife eyes 30% growth in first premium income

 Life insurance firm PNB MetLife is expecting 30 percent growth in first premium income during the current financial year, a senior company official said on Wednesday

PNB MetLife eyes 30% growth in first premium income

 Life insurance firm PNB MetLife is expecting 30 percent growth in first premium income during the current financial year, a senior company official said on Wednesday

Nippon acquires 23% stake in Reliance Life for Rs 2,265 crore

Nippon acquires 23% stake in Reliance Life for Rs 2,265 crore

Japan's Nippon Life Insurance on Tuesday announced the acquisition of another 23 percent stake in Reliance Life Insurance for about Rs 2,265 crore.

 

IRDAI asks life insurers to avoid delay in pension payment

Insurance watchdog IRDAI has issued directive to life insurers to streamline process to ensure timely payment of pension to policyholders who have bought such products from them.

Life insurance market clocks 20% growth in first quarter

After witnessing de-growth since 2010, the life insurance industry rebounded in the first quarter of the fiscal recording a robust 20 percent growth in new premium income.

CCI clears deal involving Aegon's life insurance JV

The Competition Commission has approved the proposed deal related to Aegon Religare Life Insurance Company that would see Religare Enterprises exiting the joint venture.

Life insurers total assets up 17% in FY15, new premium down

The life insurance sector, consisting of 24 companies led by state-owned LIC, had seen its total new premium fall by 6 per cent to Rs 1,13,140 crore in 2014-15 from Rs 1,20,162 crore in 2013-14.

Life insurance premiums jump 24% in April-May

LIC made a smart recovery with a 21 per cent growth in total premium mop-up at Rs 9,384 crore in the said period. The Corporation's business stood at Rs 7,757 crore in the year-ago period.

IRDA slaps fine of Rs 10 lakh on Tata AIA Life Insurance

Insurance regulator IRDA Monday imposed a fine of Rs 10 lakh on Tata AIA Life Insurance for violation of excess payment to corporate agents.

Life insurance body apprehends PMJJBY viability

Apex body of life insurers, Life Insurance Council is working hard towards making the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) attractive for its member companies apprehending its viability under the present pricing policy.

Swiss Re aims to grow its India business by 25% by year-end

World's second-largest reinsurer Swiss Re aims to grow its business in the country and other parts of Asia, including China and Indonesia, by 25 percent by 2015-end.

'Public sector insurance firms defeating govt's objectives'

The apex consumer commission has imposed a punitive cost of Rs 10 lakh on a public sector insurance company for wrongly denying claims of several people, saying such firms "are always at their best in defeating noble objectives of any welfare scheme".

Religare to exit life insurance; Aegon to hike stake to 49%

Financial Services firm Religare Enterprises on Tuesday said will exit Aegon Religare Life Insurance Company by selling its stake to existing partner Bennett, Coleman and Company Ltd of the Netherlands.

IRDAI seeks suggestions on proposed amendments to its rules

Insurance sector regulator IRDAI has sought public comments on proposed amendments to its existing norms pursuant to the introduction of Insurance Laws (Amendment) Act, 2015.