The downsizing is a direct fall-out of the slowdown in the business and the promoter's plan to sell stake in the life insurance business.
'This will be our first large-size bank partner, and hence, the partnership will be a game-changer for us.'
This law will further promote inclusive economic growth targeting a larger population and enabling deeper insurance penetration.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Recent years have been turbulent for the insurance industry due to direct and indirect tax reforms, regulatory overhaul and other external pressures. The events cumulatively slowed growth rate to single digits from the high teens seen earlier.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
Make sure the rider adds value rather than just adding to cost.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
Deal with current owner Exide may be signed next week
Encourage domestic savings by providing tax incentives for investment in insurance and pension schemes.
New returns norm may push us off business, say insurers
The Indian lenders are worried over the fast depleting asset base of the Future group companies which would make their recovery of dues difficult. The asset base of Future group has eroded in the last two years due to lockdown and takeover of 947 stores by rival Reliance Retail after Future group's lease on the properties expired. Bankers said they have approached bankruptcy court so as to avoid any duplication of legal action and reduce time at the legal forums.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
You will lose out on discounts and have to pay a higher premium.
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
The FDI in insurance and defence and the plethora of schemes for improving the rural economy with all round focus on development programmes, are a key thrust.
The regulatory changes brought in by the insurance regulator and the amendments proposed to the Insurance Act by the Centre may herald a new dawn for the sector in India. This may result in insurers bringing out more consumer-led products, top honchos of general insurance companies of the country concurred at the Business Standard BFSI Insight Summit 2022.
Though costlier and fewer illnesses are covered, the breadwinner should have one with high sum assured.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
While your insurer will help you open an e-insurance account at the time of buying a policy, existing policyholders must do so themselves
Commercial papers, certificates of deposit also dry up
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
The industry's reactions to the Budget have been mixed.
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
Experts hail Budget 2015 as a progressive, growth oriented one.
What is it about Arohan that puts it in the top league of microfinance institutions in the country?
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