Pension biz of life insurers plunges 90% to Rs 2k cr in FY15

Last Updated: Sunday, August 23, 2015, 15:02

The pension business of life insurance players is down to a meagre Rs 2,000 crore in 2014-15, from Rs 20,000 crore in 2009-10.

Payments banks may ring in better days for insurers, MFs

Last Updated: Thursday, August 20, 2015, 23:41

Insurers and fund houses see payments banks (PBs) as a boon for the sector as opportunities of cross-sell would help deepen their reach in rural areas.

LIC eyes increasing market share in policies, first premium

Last Updated: Wednesday, August 19, 2015, 22:07

Life Insurance Corporation (LIC) has set a target to achieve 85 percent of its market share in terms of policies and 80 percent in terms of first premium by the end of the current fiscal.

Blast in China: This is what Insurance Companies might need to shell out!

Last Updated: Tuesday, August 18, 2015, 15:37

Chinese insurers across numerous sectors -- property, casualty and life -- will be impacted by the blasts, Credit Suisse analysts wrote in a research note.

LIC to launch maiden ULIP product on Wednesday

Last Updated: Tuesday, August 18, 2015, 14:35

Endowment Plus, a unit linked insurance plan (ULIP) will offer investment cum insurance during the term policy and provide due benefit of risk cover and benefits of investment markets, LIC Senior Divisional Manager, Nagpur, R Chander said on Tuesday.

HDFC to sell 9% stake in HDFC Life to UK firm for over Rs 1700 crore

Last Updated: Friday, August 14, 2015, 23:47

HDFC on Friday said it will sell 9 percent stake in HDFC Life to its British joint venture partner Standard Life for a little over Rs 1,700 crore.

SBI hopes to sell stakes in insurance units by year end

Last Updated: Tuesday, August 11, 2015, 21:55

State-run State Bank of India Tuesday said the valuation process for the stake sale in its insurance units has begun and the transaction is likely to be completed by the end of the year.

PF settlement timeline revised from 30 to 20 days

Last Updated: Tuesday, August 11, 2015, 17:59

The timeline for settlement of Provident Fund, pension and insurance claims have revised from 30 days to 20 days. As a result, the claimants would now get speedier service in July.

Probe against 16 insurers in Rs 2,500-cr CENVAT credit case

Last Updated: Monday, August 10, 2015, 22:49

Under the CENVAT credit scheme, a manufacturer or a service provider can avail credit of excise duty paid on inputs.

PM Modi may announce a universal health cover scheme on Independence Day

Last Updated: Monday, August 10, 2015, 22:16

The proposed new universal health cover will not have any subsidy element but the policy has to be sold by insurers at highly subsidised premium rates.

Govt plans 'Suraksha Bandhan' drive to push social security

Last Updated: Sunday, August 9, 2015, 14:38

Seeking to tap 'Raksha Bandhan' festival, the government plans to launch a 'Suraksha Bandhan' drive to push its flagship social security plans through innovative schemes like gift cheques and special deposits.

PSU general insurers on promotion spree, elevates 21 DGMs to GMs

Last Updated: Sunday, August 9, 2015, 13:52

In their bid to take on rising competition, public sector general insurers have unveiled a succession planning by promoting their young officials to the post of general managers.