Insurer seeks leeway to invest in sub-AAA-rated companies.
The Burman family is in talks to buy less than 26 per cent stake in Espirito Santo India.
Amid the ongoing controversy surrounding net asset value-guaranteed products, the Insurance Regulatory and Development Authority is standardising the method of calculating NAV under the unit-linked plans of life insurance companies.
After getting the approval of raising up to Rs 30,000 crore (Rs 300 billion) through issuance of tax-free bonds this financial year, infrastructure finance companies, Housing and Urban Development Corporation (HUDCO) and Power Finance Corporation (PFC), have thrown open their subscriptions under the private placement route.
Indian banks are knocking the regulator's doors, seeking approval to open branches in Dhaka, the capital of Bangladesh, as they sense an opportunity to cater to the business community involved in the trade of non-Basmati rice.
Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started the due diligence process and is expected to complete this by the end of this financial year.
Regulator plans minimum death benefit at five times the annual premium.
The Indian currency has depreciated 6.86 per cent since April.
Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on Ulips from September 2010.
Draft norms reduce investment ceiling from 25% to 5%.
A host of companies started the ground work for their banking play.
The premium would rise, despite 'no claims' during 2010-11 and the same fleet size.
This is a major relief for life insurers, as pension products used to account for nearly 30 per cent of their sales before the new regulations came into force.
After rising for more than a year, short-term interest rates have started falling since the beginning of the month, thanks to improved liquidity.
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 country's largest commercial bank's SME advances grew nearly 23 per cent to Rs 119,676 crore last financial year.
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.
It is clear now that our policy to treat FCCBs as debt upfront turned out to be the right approach.
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.
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