"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
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
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.
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.
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.
Advait Rao Palepu reports how a recent Supreme Court order will impact motor vehicles insurance policies.
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.
Here's how you can make buying insurance the cakewalk that it is, says Anit Jain
The revival initiative allows RLIC policyholders to renew their lapsed policies by simply paying their due premium -- without any penalty or medical tests.
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.
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.
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.
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
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
All covers have a war exclusion clause. For cargo, shipping, and aviation industries, war schemes are available.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
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.
General, life insurers with 8 & 10 yrs in biz, respectively, may have to list
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.
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.
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
Here's your chance to land a job during your vacations. Here are some openings.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Having witnessed a dip of over 4,500 staff from its headcount in last fiscal, Anil Ambani group's financial services arm Reliance Capital will hire over 3,500 managers for its various businesses this year.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Company in talks with Reliance Capital, Apollo Pharmacy to offer new services at outlets.
Bullish on growth of the insurance sector, Reliance Life Insurance is set to hire 2,500 managers, besides 90 thousand advisers in the next four months.
Before buying a life insurance policy, weigh the pros and cons of who you are buying froman agent, broker or bancassurance.
A Central Bureau of Investigation team on Friday arrived at the Som Vihar residence of former Jammu and Kashmir governor Satya Pal Malik in connection with its probe in the alleged insurance "scam" in the Union territory which came to light after his statement that he was offered bribes to clear related files, officials said.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
