Page 18 - Insurance Sector

New York Life Insurance to invest Rs 290 cr in Max Group's realty project

New York Life Insurance Company will invest Rs 290 crore to acquire 49 per cent stake in an upcoming commercial project in Gurugram being developed by Max Group firm Max Ventures & Industries Ltd (MaxVIL). In September last year, MaxVIL's arm Max Estates Ltd acquired Acreage Builders at an enterprise value of Rs 322.50 crore. Acreage Builders owns 7.15 acre land at Golf Course Extension Road in Gurugram. In a statement, MaxVIL said Max Estates has completed the 100 per cent acquisition of Acreage Builders, which now has become a step-down wholly-owned subsidiary of the company. "New York Life Insurance has been onboarded as an equity investor committing Rs 290 crore in Acreage Builders," MaxVIL said. Max Estates will hold 51 per cent stake and New York Life 49 per cent stake in Acreage Builders, which has a licence to develop this commercial project. "The developable leasable area is around 1.6 million square feet with a revenue potential of Rs 160200 crore per annum," MaxVIL ...

Budget effect: About 15% premium impact on some private life insurers

On net, about 15 per cent of overall premium for these players could be under severe growth risk, leading to about 3-4 per cent hit to growth expectations

Budget 2023 wish list: Insurers seek hike in tax deduction limit

This is among the host of suggestions submitted by the sector

2023 may see an M&A surge in insurance sector: Shriram General Insurance MD

As per the trends, the industry is expected to double its CAGR to 10.2% by the end of 2022 from its slowest growth of the decade at 5% from 2021, said Shriram General Insurance Company Ltd MD

Insurer liable to reimburse genuine cash payments

All payments were supported by TDS and GST. Hence, the National Commission concluded that the insurer would have to reimburse these legitimate cash expenses

Persistency ratio must improve for life insurance customers: CEOs at BFSI

Work done by life insurance industry led to economic revival amid Covid

LIC hits over 6-month high; stock gains 10% in two days

In past one month, the stock price of LIC has surged 20 per cent, as against 1 per cent decline in the S&P BSE Sensex.

BS BFSI Insight Summit 2022: Meet the leaders of general insurance sector

Here is the list of top leaders of general insurance sector on panel for the BS BFSI Insight Summit 2022

BS BFSI Insight Summit 2022: Irdai member Rakesh Joshi to speak at event

Joshi was made the head of a 15-member Health Insurance Consultative Committee set up by Irdai in October. He has more than 37 years of experience in the financial services industry

BS BFSI Insight Summit 2022: Meet industry leaders of life insurance sector

Here is the list of industry leaders from life insurance sector on panel for the BS BFSI Insight Summit 2022

Profit-led rally in GIC may fizzle out sans turnaround in underwriting biz

Unless the underwriting business starts looking up, brokerages are reluctant to give a buy call on the stock despite the recent rally

Health premiums on the mend: Non-life insurance in double digits

Group health plans drive the 29% growth in health premiums during the first eight months of FY23

Private companies lap up Esri's GIS software for multiple uses

Government departments have used it to build village land records, track rural roads, and manage water resources

HC asks Irdai to consult insurance firms about health cover for disabled

Court asked regulator and insurance companies to submit a status report before March 17, 2023

In a first: Bajaj Allianz set to launch surety bonds on December 19

SBI General Insurance and Tata AIG General Insurance are also said to be looking at launching a surety insurance product soon, said sources

Not all banks may opt to sell products of 27 insurers, say experts

Insurers are happy with the opening up of the distribution network as they need not shell out huge sums as a sign-in bonus to banks as corporate agents

New business premium of life insurance companies rises 30% in November

Private insurers' APE growth rebounds after lagging behind for three months

Explained: Why private insurance companies in India are coveted buys

By chasing profit over rapid expansion, companies have conserved capital, making them attractive for potential buyers

More risk in our book helps us become more agile: MD, Bajaj Allianz Life

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

GIEAIA asks Centre to send insurance amendment Bill to Parliamentary panel

The amendment Bill should be first sent to the Standing Committee of Finance in Parliament, demands the General Insurance Employees' All India Association (GIEAIA)