To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
Government's reforms agenda in Parliament is in for trouble with its biggest ally Shiv Sena on Monday joining some Opposition parties in declaring resistance to a bill on raising FDI cap in insurance sector from 26 per cent 49 per cent.
Under a 2010 nuclear liability law, nuclear equipment suppliers are liable for damages from an accident, which companies say is a sharp deviation from international norms
'From our perspective, it will bring additional customers and from their perspective, it will get them younger customers.'
Buying medical insurance? Make sure that you know what you are getting and what you are not.
'Those who want stability in life have started looking at opportunities outside of the start-up ecosystem.'
After life insurance products, the sector's regulator is now turning its attention to unit-linked insurance products (ULIP) that guarantee the highest net asset value (NAV) over its term.
Only investors with knowledge of cryptocurrencies, long-term conviction, and a long horizon should invest in this asset class.
A year after a Hamas attack against Israel on October 7 and the ensuing Israeli invasion of the Gaza Strip, India's trade with most West Asian countries has largely escaped any major disruption, except with countries like Israel, Lebanon, and Jordan. However, repeated flare-ups of geopolitical tensions in the region continue to drive up shipping and logistics costs.
The last few months have been action packed for insurance companies having a ULIP (unit-linked insurance plan) product in their portfolio. This, primarily on account of a cap levied by Insurance Regulatory and Development Authority on the total expenses that can be charged by insurance companies on such products with effect from October 1, 2009.
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
Questions market regulator's showcause to insurers on conceptual, legal, structural grounds.
Currently, the select committee is considering the Bill.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
Insurance companies sell off inventory of flood-damaged vehicles to cut losses.
Apart from paying ransom, the policy also takes care of the reward money, personal accident, cosmetic surgery and legal expenses.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
'Indians are basically liked because they are educated, they are intelligent.'
Insurance agents of all life insurance companies selling unit linked insurance plans will now show rate of returns ranging between 6 and 10 per cent to customers.
BMW Group India recorded its highest annual sales on the back of strong demand for its top-end ICE (internal combustion engine) and electric vehicles (EVs). The German luxury automaker on Thursday announced that its domestic car sales jumped 18 per cent year-on-year (Y-o-Y) to 14,172 units in calendar year 2023 (CY23). This mirrored a trend in the luxury space, with its peers also reporting record numbers.
Prudential ICICI's managing director, Shikha Sharma, talks about how the journey has been so far and also why she thinks unit-linked insurance plans are the best allocators of long-term funds.
Thousands of workers of every description -- from journalists to steel workers, from painters to New York cops, from auto to engineering workers -- marched for two hours down 5th Avenue one of Manhattan's most iconic thoroughfares, reports Jyoti Punwani.
Congress insists on sending legislation to select committee, says will support it in winter session.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
Much of the tardy reaction to competition is the result of LIC's legacy.
As part of the deal, Hilton will continue to operate the property for 100 years and the 1,413 room hotel will undergo a major renovation.
The good news is investors can make 5 to 6 switches during a year among funds depending on the insurance companies without incurring any costs.
This will be the largest claim in the aviation sector for Indian insurers in the last three years
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
After dominating the telecom space, Bharti on Monday forayed into the life insurance sector with its joint venture with global insurance major Axa Asia Pacific launching its operations in India with two products.
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
Having got the regulatory clearance to offer add-on insurance policies, non-life insurers are now preparing to launch the same in the coming weeks. Some of the insurers have said, however, that they need some time to launch these products. They say that, unlike commercial products which can be launched straight away, products meant for retail consumers need a certain level of preparation before they are ready for sale.
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
World's largest insurer AXA on Wednesday tied up with India's leading telecom company Bharti Enterprises for entering the life insurance business in India.
Either you are buying insurance policy online or through an agent, getting a better understanding about it will always be beneficial for you, says Harjot Singh Narula
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
