New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
HDFC Bank is recruiting Insurance Advisors for its branches in Mumbai.
Buoyancy in the equity market and the soft interest rate regime have prompted insurers like the LIC to focus on unit-linked products that provide life cover as well as tax benefits and capital appreciation to investors.
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Core retail segments like motor and health continue to report strong growth of 19-20 per cent with competitive intensity still visible in the motor OD (owner driven) segment. Commercial lines reported muted growth. Group health remains a key driver. Among the listed companies, ICICI Lombard continues to trail in the motor section while Star Health has lost its Y-o-Y retail market share although its better on a sequential basis.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
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.
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
Standard Life has raised its stake in an Indian life insurance joint venture to 26 per cent ahead of a proposed flotation of the business on the Indian stock exchange in 2009.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Its not so tough to improve insurance coverage at nominal cost.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
UK-based Standard Life, the joint venture partner in HDFC Standard Life Insurance and HDFC Asset Management Company, is entering the Indian private equity space. Gerry Grimstone, chairman of the British insurance major, speaks to Business Standard's Shilpy Sinha on the impact of the economic slowdown and the company's investment plans.
The first quarter earnings season will dictate the trend in the equity markets in this holiday-shortened week amid absence of major macroeconomic drivers, say analysts. Besides, lacklustre global markets may increase volatility in the market, they added. Equity markets would remain closed on Wednesday for Bakri-Id.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Use whole life term policies for legacy planning. By doing so, your annual outgo will come down and returns will improve, suggest Chirag Madia and Tinesh Bhasin.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
Insurance firms want more clarity before increasing foreign partner's stake.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
One might wonder what's wrong if one were to get the best of both worlds by buying one product. There are basically two problems... cautions Rajiv Raj
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Apart from special services from banks for their wealth management needs, HNIs are now getting offers from insurance companies, too.
Buying an insurance policy? Claim Settlement Ratio helps you find out the chance that your claim will be settled and how soon it will be setled.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
It is important to preserve copies of benefit illustration and product features.
State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.
The Centre's decision to not reduce the face value of shares of India's Crown Jewel - Life Insurance Corporation (LIC) - was taken to make shareholders feel they are acquiring something 'precious'. The face value of LIC's shares was retained at Rs 10, quoted in the draft prospectus, as it would also align the insurer's shares with those of its private sector peers. Even as the LIC Act was amended to "consolidate or reduce the nominal or face value of the shares", with the Centre's approval, it was decided to stick to the current face value of shares at Rs 10 without splitting the existing 6.32 billion shares.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
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