Page 39 - Insurance News
ICICI Lombard to make market debut today
The insurer had fixed the price band at Rs 651-661 per share for the Rs 5,700-crore IPO
 "ICICI Lombard to make market debut today")
Decision on PEs investing in insurance firms in a month: Irdai chief
PE firms have invested heavily in leading insurers such as SBI Life, ICICI Lombard, HDFC Life and Max Life
 "Decision on PEs investing in insurance firms in a month: Irdai chief")
Canara HSBC Oriental Life eyes Rs 850 cr in new business premium
Insurers growing in excess of 30-40% yearly are all backed by bancassurance
 "Canara HSBC Oriental Life eyes Rs 850 cr in new business premium")
CPPIB, GIC among anchor investors in SBI Life's offering
Sovereign and pension funds, PE firms and insurance firms lap 60% of IPO shares; mutual funds take the rest
 "CPPIB, GIC among anchor investors in SBI Life's offering")
General insurance companies see brisk rise in investments: Irdai data
Total investments of non-life insurance firms until March-end 2016 stood at around Rs 1,88,126 cr
 "General insurance companies see brisk rise in investments: Irdai data")
ICICI Lombard IPO gets fully subscribed, bidding ends later today
Bidding for the sale closes later on Tuesday
ICICI Lombard IPO subscribed 98% a day before close
Institutional portion fully subscribed, retail 60% covered, wealthy investor portion subscribed just 8%
 "ICICI Lombard IPO subscribed 98% a day before close")
SBI Life eyes 40% growth in new business premium
Total premium collection by the insurer in last fiscal was about Rs 21,000 cr
 "SBI Life eyes 40% growth in new business premium")
ICICI Lombard allots Rs 1,620-cr worth shares to anchor investors
The company's Rs 5,700-cr IPO opens on Friday and closes on Tuesday
ICICI Lombard sets IPO price band, looks to raise Rs 5,700 crore
ICICI Bank, the majority shareholder of ICICI Lombard, will dilute 31,761, 478 of its equity shares
 "ICICI Lombard sets IPO price band, looks to raise Rs 5,700 crore")
Reliance General Insurance gets in-principle Irdai nod for IPO
Reliance General Insurance outperformed industry growth rate of 30% and reported 41% growth in FY17
 "Reliance General Insurance gets in-principle Irdai nod for IPO")
Consent of clients must to use Aadhaar for e-KYC
The insurers have to maintain KYC records of their clients
 "Consent of clients must to use Aadhaar for e-KYC")
Readers' Corner: Life Insurance
Since life insurance is long-term contact, it is difficult for policyholder to change renewal date
 "Readers' Corner: Life Insurance")
HDFC Ergo-HDFC GI merger could face a few questions in post-GAAR era
There is no doubt the deal is value positive for existing shareholders
 "HDFC Ergo-HDFC GI merger could face a few questions in post-GAAR era")
India Inc on record fundraising spree; Rs 62,000-crore IPOs filed with Sebi
QIPs near all-time high in 7 months
 "India Inc on record fundraising spree; Rs 62,000-crore IPOs filed with Sebi")
Insurance firms tap blockchain for ease of transaction
13 companies to create pool of policyholder data; to lower cost for insurers
 "Insurance firms tap blockchain for ease of transaction")
Individual agents, marketing firms to soon be part of Irdai database
Measure to help curb cases of data duplication
 "Individual agents, marketing firms to soon be part of Irdai database")
Insurers close doors on GM cars, thousands of Chevrolet owners to be hit
Move follows carmaker's decision to exit India
 "Insurers close doors on GM cars, thousands of Chevrolet owners to be hit")
Saurabh Agrawal to succeed Ishaat Hussain in Tata insurance JVs
There is also a possibility of divesting some companies that are not on the group's priority list
 "Saurabh Agrawal to succeed Ishaat Hussain in Tata insurance JVs")
HDFC Life files draft paper with Sebi for IPO
Embedded value pegged at Rs 13,220 crore in June
 "HDFC Life files draft paper with Sebi for IPO")