Bank of Baroda is keen on having a common strategic foreign partner for both its mutual fund and the proposed life insurance venture.
Caught between choosing to continue an inefficient policy and dropping it? We have some answers that will help better your insurance portfolio.
If you have done proper planning and have little liability, there is no need to go for an insurance policy after 50.
The downsizing is a direct fall-out of the slowdown in the business and the promoter's plan to sell stake in the life insurance business.
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
Industrial Development Bank of India Ltd on Monday said it will enter into a memorandum of understanding with Netherlands-based Fortis Insurance International NV for setting up a joint venture company. \n
IndusInd Bank Limited has applied to the Reserve Bank of India for floating an insurance broking subsidiary as an area of diversification, a top bank official said.
A whole-life policy can also be a source of credit for other purposes.
Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
While the four general insurers will have equal stake in the TPA, Life Insurance Corporation and General Insurance Corporation might hold a less stake.
Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started the due diligence process and is expected to complete this by the end of this financial year.
Industrialist Anil Ambani on Tuesday said that his group was looking to unlock value in its life insurance venture through listing of Reliance Life as a separate company on the bourses.
Insurance firms and non-banking finance companies are heaving a sigh of relief as the revised draft of the Direct Taxes Code has suggested that book profits rather than gross assets be used to calculate the minimum alternate tax, or MAT, for both groups.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Insurance Regulatory and Development Authority (Irda) Chairman J Hari Narayan on Thursday said overall growth in the insurance business this financial year would be "encouraging".
An insurance advisor/agent can play the part of the direct link between the insurance company and the insurance seeker i.e. you. He is the one who can help you select the right policy i.e. one which can help you fulfill your insurance needs.
The Bill will come up for discussion in the upcoming winter session of the Parliament.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
The insurance industry will remember 2010 as an eventful year in which insurance regulator Irda came out on top in a turf war with market watchdog Sebi over the regulation of Unit-Linked Insurance Products, with the end result of such schemes becoming investor-friendly.
Mediclaim covers not only the expenses incurred during hospitalisation but also the pre and post-hospitalisation expenses (subject to conditions).
Don't buy a cover because your neighbour, whose needs are different from yours, has bought it. Buy only according to your own need.
The LIC and some PSU general insurers are expected to maintain dominant position in the coming years even in the liberalised scenario, ICRA said in a research report.
The online population forms a brand new market that cuts across borders, it added.
Says market regulator's order is misconceived and not in public interest.
'Margins will be an outcome of that. They will likely remain somewhat range-bound.'
Carefully observe these important steps before you hit 'buy' to buy an online term insurance policy.
Add-ons such as critical illness or disability due to accident are available on payment of a little extra money, and they can take care of any unforeseen, unfortunate developments, says Santosh Agarwal
An insurance company is liable to pay compensation to the accident victim's kin even if the driving licence of the offending vehicle's driver has expired and not renewed, as an expired licence would not make him an unskilled driver, the Bombay high court has said.
The rise in premiums could be in the range of 5-25 per cent, depending on the features that each insurance company adds on its products. Insurance firms have been given time till September 30 to include modifications mandated by the regulator.
Do you have health insurance/mediclaim queries? Rakesh Kaul, chief distribution officer, Edelweiss General Insurance, will answer your queries.
If you find yourself stuck with a wrong policy situation, consult your financial planners or insurance advisors and then decide on continuing the policy based on the merits of the case and your finances, among other factors.
ICICI Lombard is utilising the latest technology and forensic methods to verify insurance claims.
The Hinduja group is learnt to be looking at alternative means of financing, including private credit, to fund its Rs 9,661 crore all-cash offer to acquire Reliance Capital. The regulator, Insurance Regulatory & Development Authority of India (Irdai), had earlier rejected the collateral offered by the group to raise funds. The Hinduja group was in talks with Barclays, JPMorgan, Cerberus Capital Management and Apollo Global Management to raise up to $850 million.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
World's largest insurer AXA on Wednesday tied up with India's leading telecom company Bharti Enterprises for entering the life insurance business in India.
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