The government cleared Department of Post initiative on Wednesday to invest the interest earned by postal life insurance scheme to invest in the equity market, IT and Telecom Minister Dayanidhi Maran said in New Delhi.
To reduce time taken for product approvals, Irda has asked life insurers for a product planner before every financial year.
"With regard to life companies, the work on IPO guidelines is more or less complete and we would be going for gazetting the same as regulation very shortly, perhaps toward the end of this month," IRDA Chairman J Hari Narayan told reporters on the sidelines of a FICCI event in New Delhi.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
Loudspeakers blaring indecipherable music alongside a group of musicians beating drums filled the air outside the BJP headquarters in Mumbai but party supporters and workers has deserted the premises.
India's largest life insurer, Life Insurance Corporation of India (LIC) reported encouraging performance in the January-March quarter (Q4) of FY24. Total annual premium equivalent (APE) was at Rs 21,180 crore, up 10.7 per cent year-on-year (Y-o-Y), with group APE of Rs 3,890 crore, up 60 per cent Y-o-Y, though individual APE contracted 2.1 per cent Y-o-Y. The participatory book contracted 20.2 per cent Y-o-Y, but the non-par grew by 206 per cent to Rs 3,740 crore.
Hari Narayan said the proposed IPO guidelines for non-life insurance firms were in the process of finalisation before they were sent to SCADA, a body constituted by Securities and Exchange Board of India, for approval followed by a final approval from the market regulator.
'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'
It is advisable to file your ITR right away and not rely on potential extensions.
The policy features a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record, Guinness said in a statement.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
A day after Prudential bought out AIG's Asia arm, AIA, top executives of both AIG and Tata AIG met the Insurance Regulatory & Development Authority to keep the latter abreast of developments.Sources at Tata Sons told Business Standard they had decided to buy out AIG's stake in the life insurance business. And, would consider inducting a partner at a later stage.
The insurance sector is making a strong comeback. Buoyed by a steep rise in sale of single premium policies, the industry clocked a 53.25 per cent rise in November.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
Apollo Hospitals Enterprise (APH) delivered an in-line performance for the April-June quarter of the financial year 2024-2025 (Q1FY25)with growth in the number of patients. AHLL (Apollo Health & Lifestyle), a subsidiary, posted sales growth and profitability. APH also reduced operational costs at Healthco.
Insurance Regulatory and Development Authority has permitted Sahara Group to enter life-insurance segment, and issued 12 letters of intent to insurance broking entities, including three having foreign equity stake, to conduct business in India.
Treasury gains helped ICICI Bank post a nearly 10 per cent increase in the consolidated net profit for the April-June quarter at Rs 11,696 crore on Saturday. Growth in the core income slowed for the country's second largest private sector lender, but the treasury operations helped it report a 14.62 per cent rise in its post-tax profit at Rs 11,059 crore on a standalone basis. The core net interest income (NII) growth came at a multi quarter low of 7.3 per cent to Rs 19,553 crore for the reporting quarter.
Midcap stocks Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch, and Samvardhana Motherson are expected to earn upgrades.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
Cases of front-running mostly happen when large asset managers and intermediaries are involved in bulk trades as their transaction size is generally big enough to impact the stock price.
This year's tally is the second best ever after 2022 when 16 firms raised Rs 40,311 crore, led by LIC's biggest-ever IPO.
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
It is 'when someone uses their emotional problems to hook an audience on the Internet.'
It essentially amounts to 'performing sadness online for sympathy and/or attention,' explains Sandeep Goyal.
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
'We are in a position to start due diligence and private data room access shortly.'
Sebi had in October last year given the go-ahead to insurance companies for coming out with IPOs.
By following the path of Kula Dharma as mentioned in the Bhagavad Gita, you will not only be securing your child's future but also contributing to your own early sukoon (peace and well-being), says Vatsal Ramaiya
This will not affect the tax exemption provided to the amount received on the death of a person insured. It will also not affect insurance policies issued till March 31, 2023
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.
Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark. The market heavyweight's stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances