Page 38 - Aathira Varier

Insurers have festivities covered as India prepares for celebrations

Step up coverage and costs for organisers and participants as festival season begins

Pvt insurers ceded ground in rural areas in FY24; Tier-II,-III saw growth

LIC share of rural policies more than doubled; ULIPs witnessed increased demand in urban areas

Irdai forms task force to tackle challenges, boost growth of surety bonds

A surety bond is a risk transfer mechanism whereby an insurance company provides a guarantee to the beneficiary that the principal or contractor will meet their contractual obligations

As India prepares for festivals, insurers have celebrations covered

State support for Dahi Handi to Durga Puja prompts organisers to strengthen assets and participants

Insurance must be bought for right reason: HDFC Life CEO Vibha Padalkar

We don't believe in fire sale, says Vibha Padalkar

Outward remittances under RBI's LRS drop 24% to $6.9 billion in Q1 FY25

In June 2024, overall remittances fell around 44 per cent Y-o-Y to $2.18 billion amid a decline in remittances across categories

Piramal Enterprises shares gain over 3% on stake increase by promoter group

The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals

Bank union urges more staff, security amid Ladki Bahin Scheme rollout

Additionally, some beneficiaries with defaulted accounts face restrictions that prevent them from accessing benefits, resulting in unrest and even violence at branches

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices

Mahindra Finance names Bijoy Thaplial CBO, Mod Narayan Singh as CCO

Thaplial will lead the vehicle leasing and subscription business, Quiklyz, while strengthening execution strategy across all payment products

New surrender-value norms: Max Life pencils in 100-200-bp hit to profit

VNB margin measures the profitability margin for life insurers

LIC's refusal to assign policies to ACESO will be contempt of court: Mehta

Established in 2018, ACESO monetises the assets of LIC policyholders to ensure maximum financial benefits, especially in cases where the policies are surrendered or lapsed

Piramal Enterprises shares tank over 10% after weak Q1 performance

PEL's share prices ended at Rs 881.35 today, down 10.59 per cent on the BSE

Affordable housing finance companies to gain from RBI norms tweak

The RBI tweaked the risk weights for undisbursed loans by capping them at par with those of disbursed loans to address a potential anomaly in the computation of risk-weighted assets of these loans

Piramal Enterprises Q1 results: Net profit down 64% at Rs 181 crore

The retail AUM, which accounts for 72 per cent of the total AUM, increased by 43 per cent Y-o-Y to Rs 50,000 crore

PSBs trim branch network but private sector spreads its net, shows data

Das asked banks to use their branches effectively to mobilise deposits, highlighting the importance of brick-and-mortar structures

LIC drives new biz premium growth of life insurance companies in July

The growth in the premium was driven by LIC, while a high base effect impacted the improvement of private life insurers, analysts said

Deepak Sood appointed as whole time member (non-life) of Irdai

He previously worked as CEO of Avantha Ergo and Future Generali India Insurance and held leadership roles at Bajaj Allianz, Zurich Financial Services, and United India Insurance

Health insurance master circular: General insurers seek 2-month extension

Irdai issued a circular on health insurance products in June and asked general/health insurers to offer a wider range of products to customers

LIC's VNB margin falls short of medium-term target, say analysts

LIC's VNB margins improved by 20 basis points (bps) to 13.90 per cent in Q1 FY25 over the same period last year due to a change in the business mix of the insurer