RBI sees 'contagion risk' in LIC's bank ownership: Report

Last Updated: Thursday, May 21, 2015, 11:20

The cross-holdings of India`s state-owned firms have long been an area of concern but are not often discussed in public by major regulators like the RBI.

Stake dilution in SBI Life to be finalised in 3-4 months

Last Updated: Sunday, May 17, 2015, 15:44

It is believed that the foreign partner is most likely to increase its stake in the leading life insurance firm promoted by the country's largest lender State Bank of India (SBI).

LIC buys shares worth Rs 16,400 cr in 12 Sensex cos

Last Updated: Sunday, May 17, 2015, 11:33

State-owned insurance giant LIC has increased its exposure in 12 Sensex firms, including Coal India and Bajaj Auto, in the January-March quarter, with purchase of shares estimated to be Rs 16,400 crore at current valuation.

'Public sector insurance firms defeating govt's objectives'

Last Updated: Sunday, May 17, 2015, 09:22

The apex consumer commission has imposed a punitive cost of Rs 10 lakh on a public sector insurance company for wrongly denying claims of several people, saying such firms "are always at their best in defeating noble objectives of any welfare scheme".

Religare to exit life insurance; Aegon to hike stake to 49%

Last Updated: Tuesday, May 12, 2015, 16:13

Financial Services firm Religare Enterprises on Tuesday said will exit Aegon Religare Life Insurance Company by selling its stake to existing partner Bennett, Coleman and Company Ltd of the Netherlands.

IRDAI seeks suggestions on proposed amendments to its rules

Last Updated: Monday, May 11, 2015, 22:18

Insurance sector regulator IRDAI has sought public comments on proposed amendments to its existing norms pursuant to the introduction of Insurance Laws (Amendment) Act, 2015.

LIC's market share slips below 70% in FY15

Last Updated: Monday, May 11, 2015, 21:57

Country's largest life insurer LIC Monday said its market share in terms of new premium income slipped to 69.21 percent in FY 2015 from 75 percent a year ago, as the corporation had to stop selling Ulip products and discontinue a host of other products in new regulatory regime.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): Key Highlights

Last Updated: Saturday, May 9, 2015, 11:08

Pradhan Mantri Jeevan Jyoti Bima Yojana will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason.

'Online buying of non-life insurance schemes rising in India'

Last Updated: Thursday, May 7, 2015, 22:48

Online purchase of non-life insurance policies in the country is on a rise, while motor insurance attracts the maximum number of customers, a study said on Thursday.

LIC acquires NMDC shares worth over Rs 1,116 cr

Last Updated: Wednesday, May 6, 2015, 13:56

State-owned iron ore miner NMDC on Wednesday said Life Insurance Corporation of India (LIC) has acquired almost 8 crore of its shares shares worth over Rs 1,116 crore in a market purchase.

SBI Life FY15 net profit rises 11% to Rs 820 crore

Last Updated: Monday, May 4, 2015, 20:47

SBI Life Insurance, a subsidiary of SBI, Monday posted about 11 percent increase in its net profit at Rs 820 crore on account of new business growth for the fiscal ended March 2015.

SAT may hear SBI Life case against IRDAI this week

Last Updated: Sunday, May 3, 2015, 12:41

The Securities Appellate Tribunal (SAT) has served a notice to Insurance Regulatory and Development Authority of India (IRDAI) in adjudication of a case relating to SBI Life, the life insurance arm of SBI.