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.
The growth in new business premium for private sector players slowed down to 53.6 per cent y-o-y for March 2008 compared with 90.5 per cent y-o-y for the period beween April 2007 and February 2008. That dragged down the growth for the full year of 2007-08 to 83.7 per cent from 103.8 per cent in the prvious year. The slowdown was more marked for public sector Life Insurance Corporation.
With terrorist attacks getting more frequent in the country, insurance companies are introducing a mechanism for processing speedy claims on this.
Double world champion Fernando Alonso gave a 10 million euro ($13.33 million) thumbs-up to future Formula One success with Ferrari Monday.
Before buying a life insurance policy, weigh the pros and cons of who you are buying froman agent, broker or bancassurance.
The new Insurance Bill may take little time to see light of teh day.
Unit-linked life insurance products are those where the benefits are expressed in terms of number of units and unit price. They can be viewed as a combination of insurance and mutual funds.
According to sources close to the development, major domestic banks and institutions such as State Bank of India (SBI), Bank of India (BoI) and Life Insurance Corporation (LIC) have sought the permission of their respective regulators - the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority (Irda) to participate in the equity derivatives market (F&O segment) as traders.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
Max New York Life, a private life insurance company requires direct sales executives.
Union Bank of India has tied up with HDFC Standard Life Insurance Company Ltd to provide bank depositors an insurance cover under group policy with a target to bring in 50,000 customers under risk cover by March.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
MetLife India Insurance Co Pvt Ltd is looking out for Channel Sales Officers.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
