Indian stock markets this week will be primarily influenced by a series of corporate Q1 earnings, the evolving geopolitical situation in West Asia, and fluctuations in crude oil prices, according to market analysts.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
Life insurers' new business premium (NBP) reported stellar performance in November after a poor showing in October, on the back of strong growth in group single premiums for both private insurers and Life Insurance Corporation (LIC) of India. In November, 24 life insurers, including LIC, reported NBP to the tune of Rs 27,177 crore, up 42 per cent year-on-year (YoY) from the year-ago period. Private insurers' NBP rose 58.63 per cent YoY to Rs 11,209.75 crore as group single premiums more than doubled during this period.
Life insurance companies reported a 17 per cent year-on-year (YoY) drop in new business premium (NBP) in February as state-owned Life Insurance Corporation of India's premiums contracted 32 per cent during this period on account of a drop in its group single premium segment. According to data released by the Life Insurance Council, the industry earned an NBP of Rs 22,847.65 crore in February - a drop of 17 per cent from the same period a year ago.
Even as non-life insurers reported muted premium growth in October, standalone health insurers saw a robust 38 per cent year-on-year (Y-o-Y) surge. This growth was driven by pent-up demand in the retail health insurance segment.
LIC is the only brand in the Brand Finance India 100 2026 report that has a top five rank in both brand value and brand strength.
Eight of India's top-10 most valued firms saw their combined market valuation increase by Rs 1,87,497.45 crore last week, with Bharti Airtel emerging as the largest gainer, reflecting a positive trend in the equities market.
Here's a list of life insurance companies that have the maximum number of customer complaints against them in various categories such as claim disputes and unfair business practices.
The Insurance Regulatory and Development Authority of India's (Irdai's) decision to allow insurers to hedge risks through equity derivatives will help them manage market volatility and protect policyholder returns. However, this move is unlikely to alter their investment strategies.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
The combined market valuation of four of India's top-10 most valued firms, including State Bank of India, Bharti Airtel, Tata Consultancy Services, and Larsen & Toubro, eroded by Rs 1 lakh crore last week amidst a volatile and range-bound equity market.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
There have been some cases where the entire family has perished or both spouses died in the crash, which are making the claims process particularly complex.
High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year's Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of 'less than Rs 5 lakh', mainly originating from smaller cities. During this year's Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.
The Insurance Regulatory and Development Authority of India (Irdai) has asked at least 10 general and life insurance companies to submit a detailed road map for their listing strategies by the end of this month, according to multiple sources with direct knowledge of the matter. "The regulator met four life and six general insurers last month and asked them to provide their listing strategies by the end of February," said one of the sources.
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
HDFC Life has a balance between traditional policies and Ulips
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
rediffGURU T S Khurana answers readers' personal income tax queries
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
This will not affect the tax exemption provided to the amount received on the death of a person insured. It will also not affect insurance policies issued till March 31, 2023
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
As opposed to term insurance that keeps you covered for a specific time period, opting for a whole life term plan means that you are covered for your entire life, says Santosh Agarwal.
Wipro reported Q4FY26 IT services revenue of $2.6 billion, a modest 0.2 per cent Q-o-Q constant currency growth, with adjusted operating profit margin beating estimates at 17.2 per cent. The company announced a significant share buyback of ~15,000 crore, but faces near-term growth challenges, particularly in the BFSI segment, and has issued a soft Q1FY27 revenue guidance.
When Life Insurance Corporation (LIC) of India gets listed on the bourses next month, it will be among the biggest listed life insurers globally in terms of market capitalisation (m-cap), assets, and revenue, but will also be among the least profitable and capitalised among its peer group. A big gap between LIC's m-cap, profits, and networth (shareholder capital) will make it one of the priciest insurers globally, in terms of price-to-earnings (P/E) multiple and price-to-book value (P/B) ratio. LIC also lags behind its Indian listed peers in terms of profit and networth.
'We do not believe in fire sale. We don't do it.'
The BSE Sensex and the Nifty 50 declined around 4.5 per cent each since the start of the West Asia conflict.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
Private insurance firms say, over the past few years, they have been investing on digital technologies to reach semi urban and rural areas.
Aim is to boost sales volumes and increase penetration.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
'LIC's investment decisions are taken independently, following strict due diligence, risk assessment and fiduciary compliance.'
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
