Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Pension schemes across the world are coming under greater pressure due to low returns on investments and public reluctance to join them, chairman of Insurance Regulatory and Development Authority N Rangachary said.
The Life Insurance Corporation of India will comply with the Insurance Regulatory and Development Authority's norm on solvency by providing Rs 1,871 crore (Rs 18.71 billion) additional capital by this fiscal.
Compared to a third party insurance buying comprehensive insurance makes more sense, says Neeraj Gupta
In the wake of the natural disaster in Uttarakhand, the proposal for 'catastrophe insurance' is in spotlight.
The new draft guidelines issued by IRDAI proposes a minimum sum assured of Rs 50,000 and a maximum of Rs 5 lakh. A General Insurance Council official said the guidelines were still being worked on and would only be finalised next week.
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
New Irda rules open the way, with 5 entities getting okay to set up as repositories; firms preparing structures for switch
In January 2017, the growth in total premium was Rs 13,138 crore, against Rs 10,284 crore in January 2016, a growth of 28 per cent.
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
The National Commission concluded that the claim had been rightly rejected on grounds of misrepresentation in the proposal form and breach of duty to maintain utmost good faith while applying for insurance coverage.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
Dahiya's first internet-based venture to sell insurance failed, but he was convinced digital was the future
Ashish Mehrotra, MD and CEO, Max Bupa Health Insurance, explains the changes we can expect in health insurance this year.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Section 45, which says no claim can be rejected after three years of a policy being in force, remains a bone of contention
The Burman family, which runs Dabur Group, has denied any involvement or role in an illegal cricket-betting app as alleged by the Mumbai police in a complaint filed last week. The family said vested interests were behind the police complaint and they wanted to scuttle their (Dabur's) move to acquire Religare Enterprises, a financial services company. "We have not received any formal communication on any such FIR
Agents often influence customers into buying new products every year instead of continuing with their existing policies
The Bill will come up for discussion in the upcoming winter session of the Parliament.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
RBI's draft guidelines prescribe that banks with a strong capital base and NPAs below 3% can become brokers.
The devastation caused by the current deluge has damaged hundreds and thousands of homes and vehicles.
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
Moving to a new company means losing out on continuity benefits
Vehicles are depreciating assets and lose their value over time.
'Because it is the only public sector company in this sector, currently.'
You can exit Ulips after five years.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Last week, the Pension Fund Regulatory Development Authority (PFRDA) appointed State Bank of India, UTI Mutual Fund and the Life Insurance Corporation as fund managers for the schemes to manage the corpus that has accumulated since the NPS was launched in January 1, 2004. At present, the NPS is restricted to all central government employees who have been recruited after January 1, 2004.
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.
While insurance companies are yet to finalise the premiums, there are chances that group health premiums could see an increase.
Last year, FDI cap in insurance was hiked to 49%
The insurance sector is seeking clarity on the 'Indian management control' clause.
Life Insurance Corporation of India chairman S B Mathur on Monday said the corporation had no intention to pick up strategic stake in UTI Bank or in any other bank.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances