If nominees pass away, distribution is governed by succession laws of insured's religion.
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
LIC said USTR's views are based on an incomplete understanding of Indian insurance regulation and LIC's functioning.
The data for individual weighted received premium (WRP) showed divergent trends for life insurers in December 2024. Overall, the industry's individual WRP grew 4.8 per cent year-on-year (Y-o-Y); LIC's individual WRP declined 13 per cent while private players saw 11.4 per cent growth.
The resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs, Finance Minister Nirmala Sitharaman said in London on Tuesday.
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
It is a real life story. A story of an insurer that has managed to hold on to its lead in the marketplace for seven years.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
In a setback to Prudential Plc's efforts to bolster its Asia presence, American International Group today rejected the British insurer's reduced $30.38 billion takeover bid for AIG's Asian life insurance unit.
The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
'Investment by insurers in the Bima Sugam India Federation is illegal as it is a private limited company.'
'Investors should continue with their SIPs, especially during market corrections.' 'For those looking to start new SIPs, beginning with large-cap funds is a prudent strategy, followed by flexi-cap and value-oriented approaches.'
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
AUM heavyweights SBI, HDFC and ICICI Pru flex muscle, adding Rs 2 trillion+ each.
Prudential Sugar Corporation Ltd approved allotment of 10.344 million equity shares, or four equity shares of Rs 10 each for every one 16 per cent partly convertible redeemable share.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
Prudential ICICI Asset Management Company the investment manager to India's largest private sector mutual fund launched an innovative product, the Pru ICICI Advisor Series.
ICICI Prudential Life Insurance on Monday said it will hike capital by Rs 50 crore to Rs 575 crore by the end of this fiscal, after posting over 170 per cent jump in business till September.
The new business premium (NBP) of life insurance companies dropped 21.7 per cent year-on-year (Y-o-Y) to Rs 30,218.71 crore in December 2024 on the back of a steep fall in business. According to data published by the Life Insurance Council, LIC's premium dropped 41.15 per cent Y-o-Y to Rs 13,523.87 crore while private insurers reported 7 per cent growth in NBP to Rs 16,694.85 crore as the industry absorbs the impact of the revised surrender value norms.
India won their seventh ICC trophy, while registering their third Champions Trophy triumph.
Since Sanjay Malhotra took office as governor in December, the Reserve Bank of India (RBI) has adopted a more accommodative stance, which bodes well for banking and the economy as they navigate a growth slowdown, according to analysts.
ICICI Prudential Life Insurance Company has launched a completely online term insurance plan named 'iProtect' on Tuesday.
ICICI Pru is barred from doing any further business with the state government or any of its departments.
Prudential CEO Tidjane Thiam today indicated that the British company would sell its stake in Tata AIG Life to the Indian conglomerate. In March, Prudential had acquired AIG's Asia business for $35.5 billion, which included the 26 per cent stake in Tata AIG.
The market capitalisation (mcap) cutoff to qualify for mutual funds' (MFs') largecap universe is likely to go up for the fifth consecutive time to touch the Rs 1 trillion mark for the first time. A fresh list of largecap, midcap, and smallcap stocks is set to be released by the Association of Mutual Funds in India (Amfi) in the first week of January.
Some smart moves and course corrections have helped ICICI Prudential turn profitable.
Value mutual funds have witnessed robust investor interest, garnering Rs 22,757 crore in inflows in 2024, nearly double the amount seen in 2023, fueled by impressive returns generated by the segment. This surge reflects a shift in investor focus towards fundamentally strong yet undervalued stocks.
Among the 11 equity sub-categories, thematic funds received the highest net inflows at Rs 9,017 crore, followed by smallcap funds at Rs 5,721 crore and flexicap funds at Rs 5,698 crore.
After life insurance, DLF Ltd is foraying into asset management by offering local and global mutual funds through a joint venture with Prudential Financial Inc of the United States.
Younger investors with long investment horizons may continue their SIPs.
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
