FM's revival package for life insurance sector will lead to high growth-high risk investments, lesser documentation
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.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
There are challenges galore before him, and it is not going to be easy. In the next four years, he has to conjure a system that changes the optics about him and the BJP both nationally and internationally so that he can ride back on his own, claim the top slot, and not have to lean on a coalition, asserts Ramesh Menon as Modi 3.0 completes a year in power.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
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.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
The Insurance Regulatory and Development Authority on Wednesday issued a 26-point guideline for on-line agent training institutes which stipulates at least 100 hours of training in life or non-life insurance.
While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
Insurance against terror will command a lower premium starting next fiscal, as the pool created in this respect has accumulated a large sum and received less claims.General insurers have agreed to cut down the premium charges for the Market Terrorism Risk Insurance Pool to up to 0.003 per cent of the sum insured for various categories of properties.
Company launches claim guarantee scheme for customers.
A look at the fine print in your insurance document.
Ministry of Finance, Joint Secretary -- insurance, Anoop Wadhwa, had reviewed the progress of development of micro-insurance products at a meeting in the national Capital on Tuesday.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
The Anil Ambani Group-promoted Reliance General Insurance is looking to buy a majority stake in its rival Royal Sundaram, while talks are in advanced stages to bring in Swiss Re as foreign partner in its life insurance venture.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
India's insurance industry is set for a makeover as it seeks to survive and grow in a changed environment that dawned on September 1. With a three-month spat over who will regulate unit-linked insurance plans (Ulips) settled, the Insurance Regulatory & Development Authority (Irda) in July announced sweeping changes to the way insurance companies do business.
Life insurance companies have put their plans to list their shares on the stock exchanges on the backburner, though they are hopeful of Parliament's nod for the Insurance Bill, which will increase the foreign investment limit, during the Winter session.
It is just not enough to select a life insurance company that is known for its high claim settlement ratio. The responsibility also rests with you to ensure that you play it right so that your claim is not rejected.
The total number of Indian agents registering with the Million Dollar Round Table (MDRT), a prestigious international trade association of insurance agents, has more than tripled to 1,931 agents for 2007 compared with 532 in 2006. To qualify for the MDRT, an Indian insurance agent has to get a premium (read business) of Rs 23.92 lakh to his insurance company or earn a commission of Rs 5.98 lakh.
Detariffing in the non-life insurance market may well be the beginning of the end of cross-subsidisation and low premiums in group health insurance, with insurers now looking at pricing all their products individually.
Indian government expects LIC to have better business this year.
Over six years after the insurance sector was opened up to private players in India, AMP-Sanmar Life, one of the first private entrants in life insurance sector, on Tuesday said it was exploring all options, including exiting the business.
They want to take advantage of the few days remaining before the IRDA's new guidelines on Ulips come into force. What has also added to the rush is the fall in the sale of big-ticket, single-premium covers and Ulips in the current financial year as individuals are holding on to big-ticket purchases, especially where the returns are linked to the equity markets. For insurers, big-ticket policies mean a lower lapse rate and it translates into higher commission for agents.
With lower rates of renewal and lesser disposable income available to invest, insurers said the penetration has come down.
One year after the Insurance Regulatory and Development Authority's (Irda) allowed insurance companies to invest in venture capital (VC) funds, no insurer has shown interest in funding VCs.
A proper mix of cover that gets tax advantage is essential to ensure that there is adequate insurance. But first, you need to identify the needs. And they will keep on changing, according to your age, dependents and other factors: Medical insurance premiums up to Rs 15,000 come under Section 80D. And life insurance premiums up to Rs l00,000 get benefits under Section 80C.
There are many reasons why you should not; the main one is that they make money off you.
Though agents promote Ulips instead of term policies, the latter make more sense for pure insurance purposes.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Insurance falls from 14 position in 2013; insurance penetration falls to 3.9%.
Justices Arif S Doctor and Somasekhar Sundaresan held there was nothing in the MCC that would interfere with the Board's ongoing activities.
The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy.
With increasing cases of lifestyle diseases, opting for a critical illness health insurance policy makes sense.
Implementation of BI tools can improve the bottom line by 10-15 per cent of insurance companies.
