Page 14 - Insurance
GIC Re files for IPO, may raise over $1 bn
Will issue 124.7 mn shares comprising 14.22% of capital
 "GIC Re files for IPO, may raise over $1 bn")
Life insurers new business to grow 15-18%: Icra
General insurance industry expected to grow at 20% in FY18
 "Life insurers new business to grow 15-18%: Icra")
Now, SBI Life Insurance targets cancer treatment
Minimum sum assured was Rs 10,000 and Rs 50,000
No merger: Max India pulls out of Max Life-HDFC Life deal
Move follows Max group, HDFC Life calling off merger plans; decks cleared for HDFC Life's IPO plans
 "No merger: Max India pulls out of Max Life-HDFC Life deal")
LIC to invest in GIC IPO but will stay away from SBI Life IPO
NPAs of the public insurer was to the tune of Rs 18,000 cr
 "LIC to invest in GIC IPO but will stay away from SBI Life IPO")
FinMin official Ravi Mittal appointed part-time member on Irdai board
Former finance secretary Sushma Nath is another part-time member on the Irdai board
 "FinMin official Ravi Mittal appointed part-time member on Irdai board")
EPS to be revamped, medical scheme for pensioners to be formulated: Govt
We will revamp the scheme. Whatever gaps are there, will be plugged, says Dattatreya
 "EPS to be revamped, medical scheme for pensioners to be formulated: Govt")
Merger off table, focus is on HDFC Life IPO: Parekh
Under section 35 of Insurance Act an insurance cos can only be merged with another insurer: Parekh
 "Merger off table, focus is on HDFC Life IPO: Parekh")
The burden of education loan
Avoid over-leveraging with low job market; starting with default will hurt future loan options
 "The burden of education loan")
SBI Life Insurance files for IPO to raise Rs 7,000 crore
JV partners plan to sell up to 120 mn shares of a face value Rs 10 each through offer for sale
SBI Life, second life insurer to go public, to issue up to Rs 12 cr shares
SBI Life Insurance is joint venture between SBI, BNP Paribas Cardif- French insurance company
 "SBI Life, second life insurer to go public, to issue up to Rs 12 cr shares")
ICICI Pru Life mulls bid for Sahara's life insurance biz
Liabilities of Sahara Life are less than 1% of ICICI Pru's balance sheet
 "ICICI Pru Life mulls bid for Sahara's life insurance biz")
Aegon Life explores fintech,e-commerce channels to sell policies
Aegon Life is a joint venture between global insurer Aegon and Bennett Coleman & Company
 "Aegon Life explores fintech,e-commerce channels to sell policies")
Irdai's ad budget raised in FY18 even as it spent only 40% in FY17
Irdai had a budget of Rs 60 cr for ad last year of which it spent only Rs 24 cr
Irdai directs Sahara India Life Insurance to stop underwriting new business
But it's allowed to continue its business as far as its existing business is concerned
Insurance Information Bureau plans central data base of insurance agents
Move to help individual companies in having a background check of intermediaries before engaging them
 "Insurance Information Bureau plans central data base of insurance agents")
Irdai's no to HDFC-Max merger could impact sector valuations
The much-discussed synergy for the two life insurance entities might take longer to accrue
 "Irdai's no to HDFC-Max merger could impact sector valuations")
Reliance General Insurance IPO by FY18-end
Reliance Capital to dilute 10% stake
 "Reliance General Insurance IPO by FY18-end")
LIC settles 99.92% of death claim cases, sets record high
LIC is keen to push the boundary further, looking to settle 99% claims on a monthly basis in future
 "LIC settles 99.92% of death claim cases, sets record high")
EPFO to invest Rs 22,500 cr in ETFs for FY18
The annualised return on EPFO investments in ETFs has been over 12% so far: CPF Commissioner V P Joy
 "EPFO to invest Rs 22,500 cr in ETFs for FY18")
