The Union Cabinet's decision to raise the foreign direct investment (FDI) limit in the insurance sector to 100 per cent is unlikely to significantly boost foreign investment as distribution remains a critical factor, requiring overseas players to partner with Indian businesses, experts said.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family's stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family's stake and take control of REL and this will mark the entry of Burmans into the financial services space.
Canara Bank entered into an agreement with AVIVA Life Insurance Co Pvt Ltd to act as corporate agent for selling AVIVA life insurance products without risk participation.
Sachin Tendulkar says the level of satisfaction he got from playing cricket cannot be compared with anything else.
Private sector Aviva Life Insurance has entered into an agreement with Indian Institute of Management, Ahmedabad, to have its staff trained.
Aviva CEO talks about talks about some of key issues on insurance.
Such products in insurance parlance are called acturial-funded products. The ban would require Aviva Life Insurance to withdraw all its 14 ULIP products, while Bajaj Allianz one of its ULIPs called Capital Unit Gain.
Aviva Life Insurance, a joint venture between UK's biggest insurer Aviva and Dabur, has roped in master blaster Sachin Tendulkar as brand ambassador and named its new child insurance policy after the cricketer's title - Little Master.
During the first quarter of the current fiscal, new business of the company has declined by 19 per cent compared to the same quarter a year ago. There are about 37,000 advisers and the employees base of the company is 7,000, Ramachandran said after launching its 'Street to School' programme in the country.
Aviva Life Insurance, which has embarked on an expansion drive, on Monday announced the opening 13 new branches across the country in 2005 while doubling the sales force.
Buoyancy in the equity market and the soft interest rate regime have prompted insurers like the LIC to focus on unit-linked products that provide life cover as well as tax benefits and capital appreciation to investors.
Aviva Life Insurance on Wednesday launched two new funds -- a secure guarantee fund and equity-oriented growth fund.
Aviva Life Insurance has hiked its capital by Rs 77 crore (Rs 770 million) to Rs 320 crore (Rs 3.2 billion) to sustain its business growth in the next fiscal.
Aviva Life Insurance has hiked capital by another Rs 88 crore (Rs 880 million) to Rs 243 crore (Rs 2.43 billion) to sustain growth in business, which doubled to over Rs 70 crore (Rs 700 million) in 2003.
Aviva Life Insurance has announced the launch of the Young Achiever Policy with the aim to help parents plan financial needs of their child, including education and marriage.
Aviva Life Insurance targets to treble its business to over Rs 70 crore (Rs 700 million) and hire 2,000 more people this fiscal while targeting to be among the top six life insurers within a few years.\n\n\n\n
Unit-linked plans or Ulips continue to be expensive compared to other instruments, say certified financial planners.
Well aware that he would not pick up the willow again, cricket icon Sachin Tendulkar had discussed his last dismissal with his elder brother Ajit even after his farewell Test against the West Indies in November 2013.
According to Insurance Regulatory and Development Authority recommendations, a uniform grace period of 30 days is extended for annual, half-yearly and quarterly renewals, and 15 days for monthly renewals.
The rally in Indian market is mainly due to resumption of foreign institutional investor inflows.
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