Page 33 - Aathira Varier

No plan to bring clawback clause, says LIC MD & CEO Siddhartha Mohanty

LIC launched 32 products on October 1, 2024, as per the revised norms, and currently, the corporation has 35 products

New biz premium of life insurers rises 13% in October, shows data

According to a Nuvama report, growth dipped in October 2024 due to the 'increased surrender value' regulation kicking in, but still held steady

BS BFSI Summit: Insurers hope amendment Bill will drive customer engagement

The industry leaders were discussing the future of the sector at Business Standard's BFSI Summit 2024 on Friday

BS BFSI Summit: 'Changes to surrender value norms in interest of customers'

Apart from commission structures, the insurance companies can also try other levers to absorb the impact

BS BFSI Summit: 'Regulatory compliance key to consumer protection'

While compliance may incur costs, it strengthens consumer trust and safeguards data security in an era when customers increasingly demand faster service, said panellists at the BS BFSI Summit

BFSI Summit: 'Supply pressure for affordable housing despite strong demand'

The Reserve Bank of India (RBI's) had said that housing finance companies find the pre-payment penalty imposed as a challenge for the lenders. However, there is better clarity on regulations

IFC to partner with Bajaj Finance to pump in $400 mn for climate finance

IFC's $400 million loan will enable Bajaj Finance to expand access to finance for customers opting to buy EVs, including 2-wheelers, 3-wheelers and 4-wheelers

Irdai proposes changes to IAC meeting frequency, notice period, structure

The IAC comprises members representing various sectors, including commerce, industry, agriculture, and consumers, along with the chairperson and members of Irdai as ex officio members

SAHIs share in retail health insurance segment rises to 57% in FY24

According to the red herring prospectus (RHP) filed by Niva Bupa, the growth in share is attributed to the rising number of individual agents, an expanding hospital network

Bandhan Financial Services acquires Genisys Group, expands global footprint

The acquisition will help Bandhan Group expand its global footprint with new offices in the US, UK, and India, significantly enhancing its presence in these markets

Niva Bupa sets a price band of Rs 70-74 for its Rs 2,200 crore IPO

The IPO is a mix of a fresh issue of up to Rs 800 crore and an offer for sale (OFS) of up to Rs 1,400 crore by Bupa Singapore Holdings Pte Ltd and Fettle Tone LLP

Falling asset quality, credit costs weigh on major NBFCs in Q2FY25

Driven by cash flow disruptions, challenges seen in unsecured segments

Aditya Birla Capital Q2FY25 results: Net profit up 42% to Rs 1,001 crore

The company is focused on capturing white spaces and driving penetration into Tier-III and Tier-IV towns and new customer segments

Credit cards get a festive boost, spending increases 25% in September

Experts attributed the healthy growth to festive demand and the base effect

PNB Housing Finance looks to grow corporate loan book starting Q3

The New Delhi-based mortgage lender previously held a substantial corporate loan portfolio but reduced its exposure due to stress in the segment

Lockton receives Irdai approval to acquire Arihant Insurance Broking

The acquisition marks Lockton's strategic expansion into the Indian market, where it aims to address the growing demand for advanced risk consulting and management services

Jio Financial Services launches SmartGold for digital gold purchase

Customers can redeem their SmartGold units for cash or physical gold anytime they wish

InsuranceDekho merger to create new leader in segment, says RenewBuy

Reports have indicated that InsuranceDekho is in advanced talks to merge with RenewBuy in a cash-and-stock deal, which could value the combined entity at Rs 8,000 crore

SBI Life least affected by new surrender norms: MD & CEO Amit Jhingran

Following the company's Q2 earnings, SBI Life Insurance managing director and chief executive officer (MD&CEO) Amit Jhingran spoke on the road ahead for the company

LIC Housing Finance Q2 FY25 results: Net profit up 12% to Rs 1,328 crore

Total disbursements for the housing finance company rose by 12 per cent to Rs 16,476 crore in the quarter under review, compared to Rs 14,665 crore in the corresponding period in Q2 FY24