Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
Regulator wants all existing products to be refiled.
Lender to acquire 30% after existing shareholders divest stake
With "profitable growth" replacing "expansion drive" as the buzzword in the sector, the country's top private life insurers have significantly reduced branches and employees over the last couple of years to cut costs and improve efficiency.
These products contribute almost 20 per cent to the total premium collection of life insurers.
Indian billionaire Shiv Nadar's foray into the insurance sector is likely to fructify soon. DLF Pramerica Life, seeking an Indian partner for its operation, is in talks with Nadar's HCL Group to sell a majority stake. According to those in the know, both parties are back on the table to iron out the nitty-gritty, after the deal got stuck a year back due to stringent guidelines.
The appetite for Indian assets is growing among investors from the land of the samurai. An appreciating yen, combined with slow economic growth, has persuaded many Japanese investors to explore opportunities beyond their national boundary, and India appears to be one of their preferences.
Uppal, Kotwal, Venkataramanan shortlisted for managing director's post; outsider not ruled out.
Irda to raise provisioning norms to 163-213 per cent.
R-Cap, part of the Anil Dhirubhai Ambani Group, may get a controlling stake in the venture if the negotiations fructify.
Insurer seeks leeway to invest in sub-AAA-rated companies.
The Burman family is in talks to buy less than 26 per cent stake in Espirito Santo India.
Amid the ongoing controversy surrounding net asset value-guaranteed products, the Insurance Regulatory and Development Authority is standardising the method of calculating NAV under the unit-linked plans of life insurance companies.
Indian banks are knocking the regulator's doors, seeking approval to open branches in Dhaka, the capital of Bangladesh, as they sense an opportunity to cater to the business community involved in the trade of non-Basmati rice.
Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started the due diligence process and is expected to complete this by the end of this financial year.
Regulator plans minimum death benefit at five times the annual premium.
Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on Ulips from September 2010.
Draft norms reduce investment ceiling from 25% to 5%.
A host of companies started the ground work for their banking play.
The premium would rise, despite 'no claims' during 2010-11 and the same fleet size.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances