Transactions of more than ₹12,000 crore are under the scanner of the income-tax department that is probing several commission agents of insurance companies over alleged […]
Tag: Insurance
Insurers want NPS tax exemption for their pension schemes, too
The insurance industry is seeking a level-playing field with the National Pension System (NPS) with a tax exemption for annuity products of insurance companies to […]
Axis Bank enters into revised pact with Max Financial Services for acquiring additional 7% stake in Max Life
Axis Bank on Tuesday said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in […]
SBI asks field functionaries to desist from mis-selling of insurance products
Within days of the finance ministry issuing a diktat against miss-selling, the State Bank of India (SBI) has asked its field officers to desist from […]
Battle for Reliance Nippon Life Insurance: Nippon top brass likely to visit India
The race for acquisition of Reliance Capital’s 51 per cent stake in Reliance Nippon Life Insurance Co (RNLIC) is intensifying, with the top brass of […]
Anant Singhania, CEO, JK Enterprises & President, IMC Chamber of Commerce & Industry conferred BFSI & Fintech Winners
B2B Infomedia: Indian BFSI sector is poised to become the third largest in the world by 2025. It means a huge amount of data is churning […]
Shriram Life empanelled as annuity service provider for PFRDA pension scheme
The Pension Fund Regulatory and Development Authority (PFRDA) has onboarded Shriram Life Insurance Company (SLIC) as the annuity service provider for the NPS scheme. The […]
IRDA directive to shun brokers for gilt trades baffles insurers
Insurance companies, a significant investor group in the financial markets, have been told by the regulator that they can no longer cut deals with brokers […]
ACRE offers to buy LIC’s Rs 3,400 crore Reliance Capital bonds
An Ares SSG Capital-backed asset reconstruction company (ARC) has given a binding offer to Life Insurance Corporation (LIC) to acquire its ₹3,400-crore Reliance Capital bonds, […]
Insurance contracts have very little option for consumers except to sign on dotted lines: Supreme Court
Insurance contracts prepared by an insurer have very little option or choice for a consumer, except to sign on the dotted lines, the Supreme Court […]