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We will be looking at surety bonds biz: Bajaj Allianz General Insurance CEO

Overall Covid claims constituted 20 percentage points (ppt) of the claim ratio movement, said Singhel

UPI logs 4.52 bn transactions worth Rs 8.26 trn in Feb, lower than Jan

In FY22 so far, UPI has processed a little over 40.49 billion transactions worth Rs 74.51 trillion

GIC Re set to participate in reinsuring Kudankulam power plant units

Currently, Indian general insurers have to cede at least 5 per cent of their business to GIC Re till FY22

Uneven economic recovery nudged MPC to continue policy support: Minutes

The six-member MPC voted to keep the policy rate unchanged and continued with the accommodative stance at its meeting on February 10

Irdai wants insurers at par with banks on legal recourse for surety bonds

The finance minister in her Budget speech this year had said that surety bonds can be used as a substitute for bank guarantees for government procurement

IPO-bound LIC exhibits distribution strength to financial investors

Insurer already sourced 97% of FY22 new business premium till September

NCLAT sets aside NCLT approval of Twin Star's resolution plan for Videocon

Remits matter back to Videocon's CoC for fresh bids; resolution plan approved was for only 4.15% of total outstanding claim amount and total hair cut to all creditors was 95.85%

Irdai seeks to revise formula for fixing insurers' obligation for Motor TP

The regulator has asked for comments from stakeholders, which they have to submit by January 25

Micro lenders seek extension of credit guarantee scheme in Union Budget

Seek allocation of Rs 15,000 cr for FY23, of which at least 75% should be earmarked for small and mid-size MFIs

15-year cap on tenure of MD, CEOs of insurance companies on cards

Proposed remuneration to be divided between fixed/variable pay, perquisites

IPO-bound LIC plans more focus on ULIPs, annuity and health products

LIC looks to improve share of non-participating products

HDFC Bank, ICICI Bank, SBI are domestic systemically important lenders: RBI

Essentially, systemically important banks are the ones perceived as too big to fail. Such a perception creates an expectation of govt support for these banks at times of distress

Bad loans of small finance banks may go up 70-80 bps by FY22-end

On an overall basis, ICRA expects some reduction in GNPAs in the second-half of FY22

Three private life insurers increase term plan rates by 10-30%

Munich Re had nudged its insurance partners on the hike in September and insurers were engaged in negotiations with the reinsurer on the quantum of increase.

RBI caps upper limit of offline payment transaction at Rs 200

An offline payment means a transaction not requiring internet or telecommunication (telecom) connectivity to take effect

UPI signs off 2021 on a high: Dec transaction value crosses Rs 8 trillion

Record year for UPI, clocked 38 billion transactions worth Rs 71.59 trillion

Surge in Covid-19 cases leaves non-life insurers on tenterhooks

In FY21, non-life insurers had settled 849,034 claims amounting to Rs 7,833 crore

UPI breaks 5-month growth streak; transactions decline 0.71% in November

In November, UPI recorded 4.18 billion transactions worth Rs 7.68 trillion

BS BFSI Insight Summit: Onus on life insurers to transform biz, say experts

The life insurance industry saw massive disruptions in the initial period of the pandemic

LIC's tepid show pulls life insurers' new business premium down 5% in Oct

Private life insurers total APE and individual APE up 19% and 23% respectively