A personal hearing was given to M/s Reliance Life Insurance Company on July 28, 2010. Sri Malay Ghosh, President and his team were present. On behalf of IRDA, Sri G. Prabhakara, Member (Life), Sri A Giridhar, ED (Admn), Sri Kunnel Prem, CSO (Life) and Sri Satish Hegde, OSD were present.
Category: News
Latest news in India about finance, banking and insurance
Unit Link insurance sales slow due to new IRDA norms
It’s been over two months since the new IRDA norms for unit linked insurance plans (ULIPs) came into effect. The guidelines that have capped the overall charges and also imposed a minimum prescribed return may offer a much fairer deal to investors, but don’t seem to have set the cash registers ring for companies.
Whose health policy suits you better, life insurance cos or general insurers
The debate on whether health insurance is safer in the hands of life companies or general insurers has been on since quite some time in India. Today, a host of non-life and life companies, including public sector behemoth Life Insurance Corporation (LIC) offer health cover to individuals. While the non-life companies continue to dominate the health space, this does not mean that they have had a smooth sailing all along, having been beset with loss-making health portfolios.
Plan tax in advance for better gains
Efficient tax planning not only helps you save money but also helps in investing in instruments that yield good returns. Planning well ahead is critical for individuals who are taxed at a high rate.
LIC to issue Pre-paid cards to clients
LIC entered the credit card business in March 2009 by floating a wholly-owned subsidiary — LIC Card Services . The ‘LIC Cards’ are managed by Corporation Bank and the Visa is the payment service provider.
HDFC Standard Life hopes to break-even in FY12
Insurer HDFC Standard Life Insurance Company Ltd expects to break-even in the 2011/12 financial year, helped by an increase in premium income and reduction in operating costs, its chief executive said.
LIC to increase risk coverage of weaker sections in Himachal
To provide a social security cover for weaker sections, Life Corporation of India (LIC), is all set to surpass last year’s target of bringing more than 59,000 people under a life cover that also provides additional benefits.
LIC of India will provide school uniforms for tribal hostel students
At the valedictory function of the Social Security Month celebrations of LIC Pension and Group Schemes Unit, Vellore Division held at Yelagiri Hills on Tuesday, Mr. Sharma distributed educational scholarships to beneficiaries enrolled in LIC’s social security scheme Janashree Bima Yojana.
ING Life launches ‘ING Prospering Life’
NG Life India today launched its versatile new Unit Linked Insurance Product (ULIP), which meets the wealth accumulation and protection needs of customer.
IRDA bans universal life plans of Max New York Life, Aviva Life, Bharti Axa Life and Reliance Life
The Insurance Regulatory and Development Authority (Irda) has announced an overnight ban on all universal life insurance plans (ULPs). The regulator has told insurance companies that all current universal life plans will cease to exist from October 22.