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LIC's FY21 business will be higher than last year: Chairman Kumar

The life insurer hopes to sell 22 million policies and collect Rs 51,300 cr in first year premium income from individual business this financial year

Rising Covid, non-Covid claims a double whammy for general, health insurers

Insurers said while the situation had been manageable so far, going ahead, it would be a cause for concern

Digital health plan may make insurance products cheaper: Irdai member

Health insurance products calculated based on historical data will get better information, says T L Alamelu

DHFL auditors discover fraudulent transactions worth Rs 14,046 cr

The administrator of DHFL - R Subramaniakumar - has moved an application in the National Company Law Tribunal (NCLT) based on the findings of the of transaction auditor

UPI volumes at new high; digital transactions almost at pre-Covid levels

In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion

Irdai urges use of video KYC with geo-tagging, live photo of customer

In January this year, RBI had allowed banks and NBFCs to complete full KYC remotely. A number of banks have rolled out this service since the RBI's nod

Third-party motor insurance premium hike delay worries insurers

Next six months will be tough for the industry in terms of loss ratios

Developers and lenders tap need for owned homes amid festive season

Discounts, virtual tours, flexible payment options--players pulling out all stops

Unlock BFSI 2.0: Covid has accelerated digital payment adoption by 5-10 yrs

Apart from accelerating its evolution in India, Sameer Nigam, CEO, PhonePe, said, "Covid has been very helpful in customer acquisition, even more than demonetisation"

Retail payments register 28% jump in June; digital mode sees 23% rise

Total digital payments in the economy recovered to Rs 113.4 trillion in June, compared to Rs 92.03 trillion in May, up 23 per cent

Core investment companies can have only two layers, says RBI

In revised guidelines, regulator says entities have time till March 2023 to reorganise their biz structure

Reliance Commercial Finance gets 13 EoIs from global, domestic investors

The resolution is being pursued by change in management of the entity by acquiring a 100 per cent stake

Premiums of non-life insurers rise 18.4% to Rs 17,011 cr in July

The biggest gainers were the standalone health insurers, 6 in all, with premiums rising more than 40 per cent to Rs 1,573.96 crore

GI Council may move SC to implead itself on standard rates in Covid therapy

Wants govt to prescribe treatment protocol and then fix the rates

Indiabulls Housing Finance names S S Mundra non-executive chairman

Executive chairman Sameer Gehlaut will be CEO at Indiabulls Ventures

Covid-19: Axis Bank, HDFC raise Rs 10,000 cr each via QIPs to absorb risk

Recently, many private sector lenders have raised funds to create a buffer so that they are in a position to absorb any kind of shock emanating from the pandemic

Non-life insurers receive more than 100K Covid-19 claims worth Rs 1,644 cr

While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19

ICICI Bank launches QIP with floor price of Rs 351.36, eyes Rs 15,000 cr

The bank's Capital Adequacy Ratio (CAR) stood at 16 per cent as on June 30, 2020 with Tier I at 14.72 per cent. The asset quality profile of the bank improved during the reporting quarter

Air India Express plane, which overshot runway, was insured for $50 mn

Air India's fleet is insured for around $10 billion and the airline has a liability cover of $750 million

Insurance firms see surrenders decline in Q1, brace for trend to change

Companies look to hedge against policy surrenders by providing short-term loans as succour in pandemic