Life insurance majors like SBI Life Insurance, HDFC Standard Life, Reliance Life and ICICI Prudential may be able to launch initial public offers in the current fiscal itself as the insurance regulator IRDA and capital market regulator SEBI, fresh out of a turf war, have resumed the process for listing these companies. The necessary guidelines are under preparation.
The Reserve Bank of India raised key short-term policy rates by 25 basis points in an unscheduled announcement to tame doubled-digit inflation, but bankers said this won’t lead to any hike in interest rates for now.
Following Insurance Regulatory Development Authority’s move to allow insurance companies to offer “Health plus Life” products, Future Generali India Life Insurance, the insurance joint venture between Future Group and Generali of Italy, is planning to launch a combo plan in the next two months.
Private sector Dhanalaxmi Bank today said it has entered into an alliance with HDFC Mutual Fund for distributing the latter’s financial products through its branches across the country.
Clearing the deck for the merger of State Bank of India and its associate, State Bank of Indore, the Reserve Bank is understood to have approved the amalgamation proposal.
Over the past year one year fixed deposits have returning a mediocre 5 to 7 per cent compared to the 74 per cent that investing in equities would have earned you or the 25 per cent that you could have earned by investing in gold.
Insurance regulator IRDA today sought to assure customers that their policies would remain valid despite the withdrawal of licences of over 4,200 corporate entities, including HDFC Bank, Indiabulls Insurance Advisors and Indian Overseas Bank.
The Insurance Regulatory and Development Authority (Irda) has now proposed to streamline the promotion of insurance products through distance sales channels, such as the telephone and the internet.
The Insurance Regulatory and Development Authority (IRDA) has said that as many as 4,261 corporate agents, out of the total 7,000 in the country, are not authorised to sell policies from March 31, this year.
India is experiencing vibrant growth in health insurance, buoyed by government initiatives on large-scale insurance programs and favourable regulatory moves to drive private insurers’ expansion with new products and market development.