Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
The insurance regulator is likely to confine the portability of health insurance policies to non-life insurance companies.
After lying low since its foray into the credit card business two years ago, Life Insurance Corporation (LIC) of India on Monday announced a tie-up with Axis Bank to offer co-branded credit cards to its policyholders and employees.
RBI slams public sector banks for the strange phenomenon of profits dipping when a new chairman takes over.
Insiders say some issues that demand immediate attention include improving asset quality and conservation of capital.
According to data from company sources, the Life Insurance Corporation of India (LIC) still remains the benchmark when it comes to settling death claims. However, major private players are also fast catching up.
More than half a dozen life insurance companies -- that are operating for nearly a decade now -- have cut their branch presence significantly in the last six months in a bid to cut cost and increase efficiency.
Bankers' committee suggests banks lend to meritorious students without collateral.
Sharp increase is a major departure from those during former chairman O P Bhatt's regime.
Unlike other cases, where elimination of terror kingpins has led to moderation in terror activities, insurers anticipate Osama's death may trigger a series of incidents across the world, especially in the US and Europe.
T S Vijayan, whose five-term as the chairman of government-owned Life Insurance Corporation of India (LIC) ended on Tuesday, is likely to shift to UTI Mutual Fund as the new head.
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
Microfinance companies have been facing a crisis after a crackdown by the Andhra Pradesh government last year in response to allegations they were charging high rates and using coercive recovery practices.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
The Life Insurance Council has made a representation to the Insurance Regulatory Development Authority (Irda), seeking some revisions pertaining to unit-linked products.
Prior to the attack, the size of the pool was around Rs1,400 crore.
Star Union Dai-ichi expects to break even within five years of starting operations.
Govt plans cap on third-party claims, three-year time limit for filing claims.
Nippon Life's plan to buy a stake in Reliance Life may be delayed as the deal requires special permission from the government.
Life Insurance Corporation of India, the country largest insurer, is in talks with the government to modify its investment norms to diversify the risk.
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