French wine and spirits maker Pernod Ricard expects to report low double-digit growth in India in the medium-term on the back of a strong premiumisation trend emerging in the country. "We are now the second market worldwide for Pernod Ricard and India continues to be a big growth engine for the group. "Our compoun annual growth rate (CAGR) over the past five years was 8 per cent, which is robust and was maintained at a rather high level," said Jean Touboul (pictured), chief executive officer, Pernod Ricard India.
The Insurance Regulatory Development Authority of India (IRDA) and non-life insurance companies are working towards setting up a pool for creating a capacity within India to underwrite risks from natural catastrophes.
The Life Insurance Council has made a representation to the Insurance Regulatory Development Authority (Irda), seeking some revisions pertaining to unit-linked products.
Finance Minister Pranab Mukherjee on Monday held a meeting with senior BJP leaders L K Advani, Sushma Swaraj and Yashwant Sinha to discuss these two legislations.
The government is expected to outline a policy framework for artificial intelligence (AI) at the annual India Mobile Congress (IMC) 2024, beginning Tuesday, officials said. Apart from industry participation, the four-day event will feature booths from over 15 ministries showcasing how AI is being integrated into their departments.
Insurance funds will soon start flowing to special economic zone projects, agro-processing and infrastructure projects, domestic satellite services and social infrastructure like educational institutions and hospitals.
IRDA said it wanted to seek a legal mandate jointly with Sebi, but the market regulator had reservations.
The Securities and Exchange Board of India, the capital markets regulator, restrained 14 insurance entities from raising fresh money through Ulips - Unit Linked Insurance Products.
Last week, the Pension Fund Regulatory Development Authority (PFRDA) appointed State Bank of India, UTI Mutual Fund and the Life Insurance Corporation as fund managers for the schemes to manage the corpus that has accumulated since the NPS was launched in January 1, 2004. At present, the NPS is restricted to all central government employees who have been recruited after January 1, 2004.
In what may translate into lower premium rates for traditional pension and annuity policyholders, the Insurance Regulatory Development Authority today said the capital requirement for these segments would be lowered from the end of this month.
The Insurance Regulatory Development Authority (Irda) is likely to broaden the definition of infrastructure to include more sectors. The move, being discussed with insurance companies, is aimed at enabling insurers to get access to more papers to invest in and diversify their portfolio.
Soon standalone health insurance companies will be governed by separate regulations
The Insurance Regulatory Development Authority (Irda) is planning to issue a notice to Life Insurance Corporation of India (LIC) to stop the latter from allowing policy holders to nominate "strangers" (those who are not close relatives) and religious institutions as beneficiaries of life policy claims.
Here's a quick look at the likely changes proposed for selling unit linked insurance plans from September 1, 2010 and how they will impact investors.
Irda to raise provisioning norms to 163-213 per cent.
The removal of tariffs would result in health insurance becoming the second-largest business for general insurance companies over the next three years.The health insurance premium which stood at Rs 675 crore in 2001-2002 has risen to Rs 3,200 crore by March 31, 2007.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
The Supreme Court has ruled that public sector insurance companies cannot refuse to provide medical cover policies to those suffering from pre-existing diseases and said such an action was arbitrary, illegal and unconstitutional.
Earlier, the Indian Banks' Association has shown interest in the NPS for new bank recruits. Though no concrete decision has been taken so far. In the Budget tabled in Parliament, the government said that self-employed persons subscribing to the NPS would be subjected to tax only at the time of withdrawal.
Rediff.com, one of India's pioneering internet companies, on Tuesday announced the appointment of Mr Vishal Mehta as its new Chairman and Managing Director. This key leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.
The Insurance Regulatory Development Authority plans to introduce guidelines soon on transfer (also called assignment) of insurance policies after the Insurance Act is amended.
With the top life insurance companies planning to list next year, the Insurance Regulatory Development Authority is setting up a committee for working out a mechanism to decide the valuation and the likely initial public offer price.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar
The Insurance Regulatory Development Authority of India has clamped down on excessive discounts on fire
Seventy five per cent of the non-life insurance industry, which consists of fire, engineering and motor covers, was subject to rates prescribed by the Tariff Advisory Committee up to December 2006, irrespective of whether the risk was good or bad. The industry was partially detariffed on January 1, 2007, but the regulator restricted the discounts insurers could give to minimise the dangers of an irrational price war.
National Insurance Company is going to come out with a new health policy for those above 60.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
The Pension Fund and Regulatory Development Authority has unveiled a savings account scheme under the New Pension Scheme which would allow investors to enter and exit at will. The account, called Tier-II, will be available only to those who have subscribed to Tier-I, which an investor cannot exit till the age of 60. Tier-I, a pension account, was launched in May but has not found too many subscribers in the absence of tax benefits at the time of withdrawal.
The pension regulator, the Pension Fund Regulatory Development Authority, is taking various steps to boost the numbers, cairman D Swarup tells Vrishti Beniwal in an exclusive interview
Pension Fund Regulatory Development Authority rolled out the NPS for all citizens from May 1. Till July 31, only 1,109 forms were collected by the 22 points of presence appointed by the interim pension fund regulator. ICICI Prudential Pension Fund Management, which has 49 branches authorised by the PFRDA to act as points of presence, collected 218 forms, the highest among all 22 POPs.
Implementation of BI tools can improve the bottom line by 10-15 per cent of insurance companies.
After tying up with 15 banks, state-owned National Insurance Company on Friday signed a memorandum of understanding with leading NGO, HelpAge India, to distribute its products.
A crucial point anyone purchasing health insurance must heed is the need to declare PEDs.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'A dynamic bond fund acts like a gilt fund in a rate cut scenario and like a conservative short-term bond fund when rates rise.'
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