Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Simple to follow and effective ways to get cheaper two-wheeler insurance
'We do not see people getting reduced, but because of automation, we will do more work.'
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor - the banking, financial services & insurance (BFSI) sector - which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. "Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space - both through organic investments and with the addition of Capco," Suzanne Dann, Wipro's chief executive officer for Americas 2 said.
IT company Wipro on Wednesday reported almost flat growth in consolidated net profit at Rs 2,667.3 crore for the September 2023 quarter and projected a 3.5 per cent fall in revenue in the current quarter on a weak global economic outlook. The company had posted a profit after tax of Rs 2,649.1 crore a year ago. Its lower IT services growth estimate for the December 2023 quarter by 3.5-1.5 per cent is in the range of $2,617-2,672 million in constant currency terms or about Rs 21,642.59 -- Rs 22,097.44 crore.
The financial well-being of an insurance company is probably the most important factor that must influence you to take insurance from a particular company.
Buying a health insurance policy doesn't mean that you start getting cover from day one of the policy, says Harjot Singh Narula.
'We have not seen too many large deals compared to last quarter.'
Interoperability with other insurance companies - apart from banks, medical centres, among others - would be the eventual goal
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
But, neither were the big companies interested in growing inorganically nor were the smaller ones ready to offer themselves for sale.
The Insurance Regulatory and Development Authority on Thursday allowed portability of health insurance products. It will be applicable for all existing and new contracts from July.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
Though agents promote Ulips instead of term policies, the latter make more sense for pure insurance purposes.
As markets gain momentum, investors are again being lured into investing in ULIPs but they may face the heat in case markets fall.
Staying healthy is good news for the insurance company as well since it implies lower claims. Insurance companies offer discounts anywhere between 8 And 30 per cent discount on premium.
Let us take a look at why it is important to opt for travel insurance even for domestic use.
Mukesh Kumar, Executive Director HDFC ERGO General Insurance Company, tells you how you can benefit by doing so
To reiterate, individuals should evaluate their needs first and then build a life insurance portfolio. In the tax planning exercise, the long-term financial goals should not be lost.
Priority will be to maintain a balance between sector's growth and consumer welfare.
After reeling under losses for almost a decade, life insurance companies are now turning the tide. Four life insurers have, so far, posted profit, while three of them have brought down their losses.
Turn the table on unscrupulous agents selling policies you don't need.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
The government is nudging LIC to tweak its product strategy to maximise profitability in a bid to help the country's largest insurer realise its full growth potential and yield better returns for investors, an official said. Life Insurance Corporation (LIC) has been trading below the issue price of Rs 949 a share ever since it got listed on stock exchanges on May 17. It listed at Rs 872 apiece on NSE. On Tuesday, the scrip settled at Rs 595.50, down 0.72 per cent over the previous close.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
Insurance falls from 14 position in 2013; insurance penetration falls to 3.9%.
While there is more than one irritant that the bank and the insurer are trying to sort out, sources close to the development said the biggest roadblock is the rights that IAG will enjoy if the proposed venture gets a go-ahead from the SBI board. The issues are likely to be discussed at the board's meeting on Friday.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
Insurance sector to get lot of foreign investment: Jaitley.
Maharashtra has the highest share - over 16 per cent -- in the motor insurance premium (own damage category) of about Rs 17,098 crore (Rs 170.98 billion) collected as of 2012-13 in the country, whereas Gujarat tops in terms of annual growth rate, an Assocham study said.
If the insured dies due to any reason during this tenure, the death coverage is offered to the beneficiaries.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
