HDFC Life Insurance reported a 4 per cent year-on-year increase in net profit to Rs 495.6 crore for Q4FY26, while its parent, HDFC Bank, announced a Rs 1,000 crore preferential share issuance to raise its stake to 50.5 per cent.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
Bupa and Axa have already declared their intention to raise stakes.
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Bharti will move FIPB soon for increasing Axa's stake to 49%
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
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.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
'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 one common theme across companies that have rewarded shareholders is consumption.
Mutual funds have launched a clutch of new fund offers in the silver ETF (exchange traded fund) category this year and collected Rs 1,400 crore in assets after the introduction of the newly-created investment asset class by market regulator Sebi in 2021. Further, fund houses including Kotak Asset Management Company have filed draft documents with the markets regulator to float silver ETF as well as silver ETF fund of funds for investors, information with the Securities and Exchange Board of India (Sebi) showed. These NFOs (new fund offers) are providing an opportunity to the investors to digitally invest and own silver which is easily tradable during market hours.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
A glance back at some of the important ups and down Indian Inc faced in 2018.
