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Insurance

FDI policy, at present, allows 49 per cent foreign investment in the insurance sector. Government is considering allowing 100 per cent foreign direct investment (FDI) in insurance intermediaries with a view to give a boost to the sector and attracting more funds, sources said.Intermediary services include insurance broking, third party administrators, surveyors and loss assessors.The […]

Injecting a major booster to rail infra projects, LIC has recently agreed to finance rail infra projects to the tune of Rs.5,000 crore, said official sources, reiterating that railways projects will be funded by LIC at a cost of 30 bps over the 10-year government bonds. Funds will be available for 30 years as per […]

Ayushman Bharat National Health Protection Mission (NHPM), hailed as the world’s largest public funded health insurance scheme, would be ready for launch by July end, informed Union Health and Family Welfare Minister. “All activities related to launching of Ayushman Bharat will be done by the end of July,” he told reporters a day after the […]

Investors cheered Phoenix Group Holdings’ acquisition of Standard Life Aberdeen’s insurance unit Friday, a deal that will triple the UK company’s life-insurance assets. Phoenix rose as much as 7.6 per cent to a record in London after it announced the £3.2 billion ($4.5 billion) deal. As part of the transaction, Standard Life Aberdeen will get […]

In a bid to bolster its strength in the affordable and mid-income housing projects across metros in the country, Piramal Finance has decided to invest Rs.3,000 crore in the segment and will also scale up the investments to $2 billion by 2020, MD, Piramal Finance, Khushru Jijina said, reiterating that the company has aimed at […]

After the initial public offering (IPO) of New India Assurance last year, Kolkata-based National Insurance was next in line for an IPO early next financial year. However, now with the government proposing the merger of 3 public sector general insurance companies -— Oriental Insurance, National Insurance and United India Assurance — National Insurance will now […]

National Highways Authority of India (NHAI) has sanctioned Rs.3,680 crore to complete the five national highways in Tamil Nadu. The national highways will cover a length of about 221.48 km across the state. The five roads are–Chennai-Tada road-NH 5, Karaikudi-Ramanathapuram road-NH 210, Sethiyathoppu-Cholapuram and Cholapuram-Thanjavur (NH 45C) and Oddanchatram bypass road-NH 83. NHAI has allotted […]

Insurance heavyweight Aviva India is seeing a spurt in business from small and medium enterprises (SMEs) and expects the segment to come up on its own, a top official has said. Anjali Malhotra, Chief Customer, Marketing & Digital Officer at Aviva India, told that the SME line of business is trending at 6-10 per cent […]

Reliance General Insurance Company Ltd on Friday said it has signed a comprehensive Bancassurance agreement with YES Bank to distribute its various products. In a statement issued here, Reliance General – a subsidiary of Reliance Capital Ltd – said the bancassurance agreement – corporate agency agreement – has been inked to distribute insurance products to […]

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