The total number of agents of Reliance Life at the end of September stood at 211,293. By December-end, the numbers were down by 68,450 to 142,843, according to an investor presentation made by the company.
Shares of Life Insurance Corporation (LIC) of India hit fresh record lows amid sustained decline in Adani Group stocks. Its stock finished at Rs 567.8, down 2.9 per cent over its previous close. The state-owned insurer's market value is now down Rs 2.4 trillion, or 40 per cent, compared to initial public offering levels.
LIC and GIC employees will go on strike on Tuesday to lodge their emphatic protest against the 'ill-advised' two Bills the Government of India introduced in Parliament on Monday. The office bearers of Insurance Employees' associations said the increase in FDI limit under external pressure results in increased access to private foreign capital over domestic savings, thereby weakening the public sector LIC of India.
While it is advisable to hold the insurance policy till its maturity, it is not always possible. Life throws up some unexpected challenges, and so we are forced to sell the policy, in order to raise cash to tide over these emergencies.
Players may have to suffer underwriting losses this year.
As we enter the peak tax-saving season, you will notice an increase in advertisements related to tax-planning products. Expect an escalation in the noise surrounding tax-saving products like life insurance and mutual funds. These advertisements will almost certainly be followed up by persistent calls from telemarketers, not to mention personal visits from your friendly neighbourhood insurance agent.
Insurance industry is gearing up to clear claims from the attack on Mumbai even as many of the injured are finding it tough to produce the required documents.
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.
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
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
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.
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.
A whole-life policy can also be a source of credit for other purposes.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
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.
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.
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.
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.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
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".
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.
Mediclaim covers not only the expenses incurred during hospitalisation but also the pre and post-hospitalisation expenses (subject to conditions).
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.
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.
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.
Loudspeakers blaring indecipherable music alongside a group of musicians beating drums filled the air outside the BJP headquarters in Mumbai but party supporters and workers has deserted the premises.
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.
Carefully observe these important steps before you hit 'buy' to buy an online term insurance policy.
