IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
Naval Goel explains all that you wanted to know about life insurance but didn't know who to ask
The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
Are all the benefits of group life insurance for real? Naval Goel finds out
Here is what you must not think before buying life insurance, says V Viswanand, Senior Director and Chief Operations Officer, Max Life Insurance
Life insurers' new business premium (NBP) reported stellar performance in November after a poor showing in October, on the back of strong growth in group single premiums for both private insurers and Life Insurance Corporation (LIC) of India. In November, 24 life insurers, including LIC, reported NBP to the tune of Rs 27,177 crore, up 42 per cent year-on-year (YoY) from the year-ago period. Private insurers' NBP rose 58.63 per cent YoY to Rs 11,209.75 crore as group single premiums more than doubled during this period.
As of March 25, life insurers have paid Rs 1,986 crore towards 25,500 Covid death claims
The Indian insurance industry is set to focus on customer-centric technological adoption and expansion into rural areas to drive growth in 2025.
The new regulations will allow the insurers to charge an extra premium from policyholders who wish to buy riders with unit-linked insurance plans.
'We have opened 100 branches in the last one and a half years. Our manpower is also in place.'
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance cover of over Rs 5 lakh.
What approach should you take when you decide your life insurance policy?
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
The life insurance industry does not have a good track record when it comes to passing on tax benefits to policyholders, points out Harsh Roongta.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government had increased FDI limit from 26 per cent to 49 per cent. Investment under the automatic route does not require prior approval from the government.
'Even if India is attractive, FPIs currently lack the funds to invest, as money is being redirected to the US.'
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
Agents often influence customers into buying new products every year instead of continuing with their existing policies
HDFC Life Insurance Company (HDFC Life) delivered a strong performance in the December quarter of the current financial year (Q3FY25), exceeding market expectations with robust earnings growth. The company reported a 13.7 per cent year-on-year (Y-o-Y) increase in net profit to Rs 414.9 crore in the quarter. The value of new business (VNB) rose 8.6 per cent Y-o-Y to Rs 930 crore, compared to Rs 856 crore in the corresponding quarter of the previous year.
>You can buy a life insurance policy for someone else only if you have an insurable interest or expect financial loss from that person's death, points out Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance, answering insurance questions.
This article deals with four wrong reasons for which life insurance products are being bought today.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Life insurance offers dual benefits: financial security to your family in case of the policyholder's death as well as helps you save tax, says Alok Patnia.
Fraudsters read your mind, weave convincing stories, earn your trust and then vanish with people's savings. Ramalingam Kalirajan reveals five simple tricks that cons use to steal money from you.
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
'I am very happy to see that the work is starting to bear some fruit now.'
Anil Ambani's Reliance Infrastructure Ltd has slashed its standalone debt by 87 per cent to Rs 475 crore after it cleared outstanding dues of Life Insurance Corporation of India, ICICI Bank and other lenders, the firm said on Wednesday. In stock exchange filings and press statements, Reliance Infrastructure said its standalone external debt has reduced from Rs 3,831 crore to Rs 475 crore. "Consequently, the net worth of the company will stand at Rs 9,041 crore."
Cover the spouse under the same policy. A joint life plan offers assurance that one will continue to receive the same financial care in case of an unforeseen loss of a partner, advises Pankaj Razdan.
SBI is expected to mop up almost $202 million via the share sale.
Premium paid on life insurance policies entitles you to tax benefits. Read on to find out more about this.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Rekha Gupta had the support of the RSS, which actively participated in the Delhi assembly poll campaign to help the BJP win.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
In January 2017, the growth in total premium was Rs 13,138 crore, against Rs 10,284 crore in January 2016, a growth of 28 per cent.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Both life insurance and medical insurance premiums are subject to an 18 per cent GST rate.
'Investment by insurers in the Bima Sugam India Federation is illegal as it is a private limited company.'
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