Page 34 - Aathira Varier

Non-Life Insurers premiums up 9.3% in July: General Insurance Council

The motor insurance and health insurance segments have been driving the growth in the non-life insurance industry so far in FY25, industry experts suggested

Hybrid workers drive demand for pay as you drive insurance plans

The insurance regulator had allowed general insurers to introduce pay as you drive and pay how you drive for motor insurance cover in 2022

PB Fintech posts consolidated net profit at Rs 60 crore in Q1 FY25

The overall adjusted Earnings before Tax, Interest, Amortization, Depreciation (EBITDA) margin improved from (-)31 per cent in Q1 FY24 to 12 per cent in Q1 FY25

Go cashless in Paris: JioFinance app forays into international segment

Visa, the official payments partner of the Olympic Games Paris 2024, has partnered with JioFinance for its presence at India House

Muted treasury gains for banks in Q1 FY25 due to new investment norms

Under the new norm, banks must categorise bonds as HTM on a permanent basis, with the exception of 5% of the portfolio that can be withdrawn throughout the year

NBFC growth likely to take a hit as banks show funding reluctance

According to RBI data, as on September 30, 2023, 37.8% of the NBFC borrowing was from banks

Wayanad floods: Irdai instructs insurers to disburse claims immediately

Life and general insurers have been asked to appoint nodal officers to manage claims related to landslides

LIC Housing Finance Q1 results: Net profit down 2% at Rs 1,300 crore

Total disbursements were at Rs 12,915 crore in Q1 FY25, as against Rs 10,856 crore for the corresponding period in FY24

Irdai levies Rs 2 cr penalty on HDFC Life Insurance for violating norms

The regulator cited violations of norms related to policyholders' interests, web aggregators, and insurance distributors

Aditya Birla Capital Q1 FY25 results: Net profit rises 16.7% to Rs 758 cr

The disbursements of Aditya Birla Housing Finance Company grew by 89 per cent Y-o-Y to Rs 3,068 crore in Q1 FY25

Abolish tax on life, health insurance premiums: Gadkari writes to FM

Gadkari said in his letter that he is writing to the finance minister following a memorandum from the Nagpur Divisional Life Insurance Corporation Employees Union

Life Insurers to seek extension on implementing surrender value norms

Revising all the traditional products according to the new surrender value norms and renegotiating terms with the distributors within the timeline is a huge challenge

New India Assurance increases premiums on health insurance by 10%

Amid the surge in medical inflation, other insurance companies are also believed to have increased their health insurance premiums

Draft guidelines may impact banks' existing LCR by upto 300 pps: CRISIL

Last week, RBI proposed to tighten norms related to liquidity coverage ratio by increasing the run-off factor to 5 per cent for retail deposits

State-owned non-life insurers report Rs 7,558 cr net profit in FY24

The government had infused capital worth Rs 17,450 crore in three years from FY20 to FY22 to restore solvency levels to control level

CSB Bank Q1 results: Net profit drops 14% to Rs 113 cr as provisions rise

The provisions for non-performing assets rose 273 per cent to Rs 20 crore from Rs 4 crore in Q1 FY24

Reduction in TDS for life insurance payouts draws mixed reactions

TDS will be reduced from current rate of 5% to 2% from October 1

Ujjivan SFB Q1 FY25 results: Net profit declines 7% to Rs 301 crore

The deposits grew by 22 per cent YoY to Rs 32,514 crore

Net credit card additions down to 2 mn due to seasonal, regulatory factors

Card spend flat at Rs 4.79 trillion but likely to pick up in coming quarters

Federal Bank Q1 results: Net profit increases 18% to Rs 1,010 crore

Net interest income (NII) improved 19 per cent year-on-year to Rs 1,919 crore while other income increased by 25 per cent to Rs 915 crore