The free pricing regime in the general insurance industry has come into force, with the Insurance Regulatory and Development Authority clearing all the revised rates filed by general insurers.
The Allahabad Bank-led, five-party venture for a non-life insurance company is expected to start operations by April-May 2007
The third party premium has been increased from the current Rs 700 to Rs 2,500, a 257 per cent hike for private cars, where the cubic capacity of the vehicle exceeds 1,500 cc.
State Bank of India, UTI AMC and Life Insurance Corporation will start investing the corpus of the new pension system (NPS), estimated around Rs 2,000 crore (Rs 20 billion) now, in market instruments including 15 per cent in equities from end-June 2008.
Life Insurance Corporation of India has asked the Insurance Regulatory & Development Authority to allow it a shareholding of up to 20 per cent in a company.
The Union Cabinet will soon take a call on setting up Railway Development Authority of India, an independent regulator, which will decide on passenger and freight rates
Anil Ambani-controlled Reliance Capital Ltd is all set to start life insurance business with regulator IRDA approving the acquisition of Chennai-based AMP Sanmar Life Insurance Ltd.
Paytm CEO Vijay Shekhar Sharma said on Wednesday that the company's share market performance has been in line with that of global peers in the sector over the past six months due to macroeconomic factors. "Macro factors like quantitative easing, free money due to US monetary policy and other parameters led to a spook in the market in terms of pricing the IPO. "Paytm's shares have received a similar response to that of global peers in the last six months...But that is not a complete reasoning.
In a bid to assure those affected by torrential rains in Maharashtra, insurance regulator IRDA on Thursday said public and private general insurers will not withdraw flood cover for homes and commercial establishments.
With organisations like the Bharatiya Mazdoor Sangh, which is a front of the Rashtriya Swayamsevak Sangh, telling Finance Minister Nirmala Sitharaman they want OPS back, the government is in a bind, report Shiva Rajora and Aditi Phadnis.
The latest data released by the Insurance Regulatory and Development Authority (Irda) show that during April and May this year, premium from the sale of new policies rose to Rs 8,119 crore (Rs 81.19 billion) compared with Rs 7,331 crore (Rs 73.31 billion), representing a rise of 10 per cent.
Finance Minister P Chidambaram on Tuesday asked chief ministers to carry forward pension reform as the liabilities of both the Centre and states was expected to cross a staggering Rs 100,000 crore
Life Insurance Corporation (LIC) has received the insurance regulator's nod for time till January-end 2023 to dispose of investments in pension, group and life annuity funds, which do not fall in the "approved investment" category. Had the Insurance Regulatory and Development Authority (Irdai) denied more time to transfer the investments to shareholders' fund at amortised cost, the loss that would have accrued in the profit and loss account (shareholders account) would have been Rs 5,365.83 crore as of September 2021, LIC said in its draft red herring prospectus (DRHP).
ULIPs have become popular amongst investors, especially those who do not have the time to track the markets but want to earn higher returns on maturity.
The Insurance Regulatory and Development Authority on Wednesday issued a 26-point guideline for on-line agent training institutes which stipulates at least 100 hours of training in life or non-life insurance.
The Pune-based firm had submitted interim safety and immunogenicity data of phase 2/3 bridging clinical trial conducted in the country as well as interim clinical trial data of safety and efficacy from phase3 clinical trials conducted in the UK and the US along with its application.
The proposed PFRDA bill, aimed at setting up a regulator and manage a new pension system, will not allow pension schemes to invest their money in individual stocks.
The central government has appointed India Invest Economic Foundation, a private agency, as consultant for operationalisation of new pension scheme by this month.
In a bureaucratic reshuffle, economic affairs secretary Rakesh Mohan will look after the key budget division following the appointment of expenditure secretary D Swarup
Gross enrolments of new subscribers with the ESIC were 1.49 crore during 2018-19.
The long-awaited Pension Bill to set up a regulator and manage the new pension scheme for government employees is likely to come up before Parliament in the forthcoming session beginning May 10.
Illegal gambling on the cup is prevalent in countries like Thailand and Malaysia, where football is hugely popular, but which don't have legal betting alternatives, gambling industry experts say.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
The healthcare industry on Friday asked the government to revamp the foreign direct investment and capital adequacy norms for health insurance entities to make world-class medical treatment available to Indians and make the country a healthcare hub i
The Insurance Regulatory and Development Authority has tightened financial disclosure norms by asking general insurers to give details of the reserves maintained for claims that have been paid but not reported adequately in the books of accounts.
Decks have been cleared for the long-awaited pension reforms with the union cabinet on Thursday giving approval to a proposal to bring in legislation for setting up a separate regulator for the sector. \n
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