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Company in future plans to focus on retail segment and build a ‘plug and play’ system for their partners. For driving growth in current fiscal year, 2 insurance arms of ICICI group will rely on investments in the latest technology, providing value-added customer centric services, better claims management, and expanding non-traditional distribution channels. ICICI Prudential […]

While a final decision is yet to emerge on whether LIC would be snapping up over 50 per cent stake in IDBI Bank, official sources said the preliminary contours of such a plan is being worked out. Insurance behemoth LIC is looking to enter the banking space by acquiring majority stake in IDBI Bank as […]

Partnership will begin as a pilot project for 3 to 6 months 1st in Bihar and Odisha and then in Uttar Pradesh to understand ground challenges. India1st Life Insurance has partnered payment solutions provider Oxigen to utilise its point of sale (POS) network for distributing insurance policies in a bid to reach underbanked population. “We […]

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 […]

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