Page 53 - Subrata Panda

Irdai gives indicative premium growth targets to non-life insurers

The regulator's aim is to increase non-life penetration to 2.5% from the current 1%

Irdai empowers insurers to empanel hospitals for cashless facility

Regulator asks companies to publish board-approved empanelment criteria on their websites periodically; insurers to focus on quality of healthcare services of hospitals being empanelled

NCLT admits Bank of India's insolvency petition against Future Retail

IRP appointed; corporate insolvency resolution process to start against the retailer

Protection segment to be 22-25% of our product mix: ICICI Pru CEO

This is because this segment is expected to have high demand, given the under-penetration and the pandemic-induced awareness among consumers

ICICI Lombard's Q1 net up 80% to Rs 349 cr on strong premium income

The gross direct premium income by the insurer during the period was Rs 5,370 crore, up 28.2 per cent from the year-ago period

HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves

VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%

Group covers lead 22% growth in Q1FY23 health insurance premium

Motor insurance premium sees 27.5% rise on a low base

FPI legroom not enough for big MSCI boost, says Macquarie Capital

According to the latest June quarter shareholding data, the FII shareholding in HDFC Bank and HDFC Ltd has declined to 65.81 per cent and 67.7 per cent, respectively

HDFC Bank lost Rs 50k-cr corporate loans as competitors offered lower rates

Merger-related dispensations separately handled by RBI, says HDFC Bank CFO Srinivasan Vaidyanathan

ICICI Pru Life sees profit of Rs 156 cr in Q1 on lower claims, provisions

New business premium of the insurer grew 24.4 per cent to Rs 3,184 crore in the same period

Federal Bank's Q1 net jumps 64% to Rs 601 cr in best-ever quarterly show

Stronger bottomline supported by lower provisions and healthy NII

Irdai wants life insurance firms to eye 50% premium growth in 5 years

Irdai extended the "use & file" procedure to most life insurance products, barring individual savings, individual pensions, and annuity products

Irdai says no decision on mandatory disclosure of insurance commissions

Irdai said it regulator intends to hold discussions on the matter before a decision

State Bank of India increases MCLR by 10 bps, second hike since June

The six-month MCLR is at 7.45 per cent; one-year MCLR is at 7.50 per cent; two-year MCLR is at 7.70 per cent; and three-year MCLR is at 7.80 per cent

Regulator allows insurance firms 'use & file' procedure for agri products

Companies can introduce a product in the market and then file with the Insurance Regulatory and Development Authority of India (Irdai) for approval

LIC embedded value flat at Rs 5.41 trillion; VNB margin rises to 15.1%

In the past, analysts have said that LIC's balance sheet and, in turn, EV remain very sensitive to equity market movements

Life firms ask regulator to allow risk-based solvency regime for ULIPs

Life insurance companies will raise their solvency margin and free up capital that can be used for other purposes

SBI, ICICI Bank up interest rates on certain foreign currency bank deposits

According to SBI's website, the interest rate on US dollar category deposits with maturities up to 2 and 3 years are up by 85 basis points to 2.85 per cent and 3 per cent

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent