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.
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.
One of the MDs, R Sridharan, is focusing on associates and subsidiaries. Another managing director, S K Bhattacharyya, who retired in October, 2010, was the chief credit risk officer.
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.
The bank follows RBI discomfort with quid pro quo pact.
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.
"There will be a spectrum of guarantees. For instance, there could be a guarantee on premiums paid or sum insured or rate of return or annuity," said an Irda official.
Life Insurance Corporation of India, Housing Development Finance Corporation and State Bank of India together own a little over 45 per cent in IL&FS. The deal is expected to be valued around $2.5 billion.
The finance ministry's plan to offer basic banking licences may find few takers because of doubts over the commercial viability of the proposed business model.
"The main point is managing this growth so as to make it sustainable. Our aim is to grow by at least 25 per cent on-year during 2011-12."
LIC is also working on a new model to scan loan applications.
You can't ask a current borrower to finance your growth, says RBI memeber Yezdi H Malegam.
Banks have started putting the brakes on short-term corporate loans.
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