India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
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Foreign investment cap in insurance sector raised to 49 per cent.
People without health insurance are less likely to get recommended for cancer screening tests, the study also found, confirming earlier research. And when these patients finally do get diagnosed, their cancer is likely to have spread, The Columbian reported on Friday.
The Insurance penetration in India is very low at 3.9 per cent.
Amit Shah wants to increase the party's nationwide vote share by at least 10 per cent from the 37.7 per cent it secured five years ago and ensure above 50 per cent vote share in the states where it came close to that benchmark, but couldn't cross it.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
However, under several external factors -- such as technological disruption or advancement, regulatory or policy changes, or economic shocks -- the gig workforce may grow only to 32.5 million by 2047, a report points out.
The Brookings Institution, a think tank associated closely with the US administration, recently expressed keen interest in it.
Iffco Tokio General Insurance is hoping to step up growth by focusing on motor and health insurance.
Some of the suggested strategies include making thoughtful trade-offs between career choices and family responsibilities to avoid the guilt of not spending adequate time with elders and children at home; resisting the pressure to be a 'superwoman' by trying to manage everything alone; demanding, negotiating, and selecting jobs with flexible working hours; exploring work-from-home options; choosing an appropriate time for a career break; upskilling to re-enter the workforce after a break; and communicating openly with family members -- including spouse and in-laws -- about the support needed to grow professionally and the challenges faced at work, highlights N Ravichandran.
The artificial intelligence-based system aims to authorise cashless claims within 60-90 seconds and bring the turnaround time for investigations down to a one day, or even a few hours.
Suresh Chand, 46, had pleaded guilty on September 2, 2009, to one count of conspiracy to commit health care fraud and one count of conspiracy to launder money in Medicare Fraud Scheme.
French information technology (IT) and consulting services major Capgemini on Monday said it would acquire Mumbai-headquartered WNS for $3.3 billion in cash. This could be one of the largest merger & acquisition deals in the IT services and business process management sector.
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
The government on Friday said it intended extending coverage of its flagship health insurance scheme for poor families to auto-rickshaw drivers, cycle rickshaw pullers, street vendors and rag-pickers.
Its not so tough to improve insurance coverage at nominal cost.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Many other companies have expressed intent of diluting stakes.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
Beneficiaries to get hospitalisation cover up to Rs 30,000.
While the BJP has assured voters that these benefits will not be discontinued, AAP leaders have questioned the party's long-term commitment.
There are host of policies one needs to manage. These include property, business continuation, health, and life.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
Sinha called for justice to the victims as he blamed Pakistan for "still trying to kill innocent people" in the region to disrupt peace.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far.
Giving an exit route to health insurance policy holders, the IRDA said people subscribing to such policies with a cover for three years or more can surrender them within 15 days if they are not satisfied with the terms and conditions of the agreement.
Wouldn't it be better to reach 45 with a backup engine of passive income that helps you glide through these years instead of grinding, asks Ramalingam Kalirajan
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
A top up insurance would cost far lesser than a fresh insurance policy for a higher sum insured
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Kejriwal described the BJP's election manifesto as "dangerous for the country".
