Reliance Industries Ltd buys Bharti stake in Axa joint ventures.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
Nippon Life's plan to buy a stake in Reliance Life may be delayed as the deal requires special permission from the government.
Insurance stocks gain after parliament passes bill to hike FII limit.
With mobile data getting cheaper, insurers are introducing technologies that eases buying and lodging claims.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Reliance Life to tie up with banks to distribute products
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
State-run insurance giant LIC and the government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
You will lose out on discounts and have to pay a higher premium.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
The Anil Ambani Group-promoted Reliance General Insurance is looking to buy a majority stake in its rival Royal Sundaram, while talks are in advanced stages to bring in Swiss Re as foreign partner in its life insurance venture.
The Anmol effect: R-Cap shares jump 40% since junior Ambani joined the board
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.
The transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore ($2.6 billion), the statement said, adding that the transaction is subject to necessary regulatory approvals.
Primarily trained for a career in FMCG, he shifted to insurance when the opportunity came his way.
A consortium of insurers, led by Anil Ambani group's Reliance General Insurance, has made final payment of $20 million (about Rs 90 crore) towards aircraft insurance claims arising from the Mangalore crash in May.
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.
Advait Rao Palepu reports how a recent Supreme Court order will impact motor vehicles insurance policies.
The revival initiative allows RLIC policyholders to renew their lapsed policies by simply paying their due premium -- without any penalty or medical tests.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
Private insurer AMP-Sanmar Life Insurance company on Friday said it was in talks with "several companies" to sell the life insurance business and denied that it had already sold the venture to Reliance Capital.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
The Anil Dhirubhai Ambani Group Company also announced to invest Rs 1,000-1,200 crore (Rs 10 to 12 billion) on expansion of its life insurance business in the next 2-3 years. The company is aiming to sell one million 'Express Life' policies in this financial year.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
All covers have a war exclusion clause. For cargo, shipping, and aviation industries, war schemes are available.
India Inc has reported a muted start to the financial year 2024-25, with a decline in net earnings and a modest single-digit uptick in revenues. An analysis of 488 companies that have released their results for the June 2024 quarter reveals a 1.6 per cent year-on-year (Y-o-Y) drop in combined net profit -- the weakest performance in the past seven quarters. In stark contrast, the combined net profit of these companies experienced a 13.6 per cent Y-o-Y increase in the previous quarter (Q4FY24) and a 65.2 per cent Y-o-Y rise in Q1FY24.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
Here's a list of life insurance companies that have the maximum number of customer complaints against them in various categories such as claim disputes and unfair business practices.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
The regulator has put a cap on the business a bank can get from a single insurer.
Anil Rego of Right Horizons explains how the new insurance rules will help policy buyers.
Though the overall environment seems to be improving, Reliance Capital CEO Sam Ghosh tells Business Standard that the company is opting to be cautious.
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
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