Life Insuracnce

FSIB to soon start selection process for new LIC chairman this month

The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, may select a new chairman of insurance behemoth LIC this month. The chairman will be selected from the four managing directors of the company, sources said. According to sources, the bureau may conduct an interview for the position towards the end of next week if all members of the committee are available. FSIB is likely to make a selection this month, subject to the availability of members due to Parliament's Budget session, sources said. The final decision on the FSIB recommendation will be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. It can be noted that one of the managing directors BC Patnaik retires on March 31. The government has already appointed Tablesh Pandey as his replacement. Currently, Siddhartha Mohanty, managing director of LIC, is acting chairman of the country's biggest life insurance firm

Budget 2023: Tax on high-premium policy may hit life insurers' top line

The stocks of life insurance companies reacted sharply to the announcement of the finance minister on Wednesday, with most scrip witnessing around 10 per cent fall in a day

Analysts hopeful of ICICI insurance twins despite Q3 disappointment

Fair value targets of brokerages suggest there is some upside in the two stocks

Reasonable growth, attractive valuations for life insurers' stocks

Analysts positive on most of the stocks, especially SBI Life, HDFC Life and LIC

Higher claims pushed up non-life insurers' underwriting losses: Report

Life insurers paid benefits to the tune of Rs 5.02 trillion in FY22, says regulator's annual report

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

Govt proposes issuance of one licence for all insurance businesses

Suggests allowing insurers to sell other financial products

Govt nudges LIC to tweak product strategy for better investor return

The government is nudging LIC to tweak its product strategy to maximise profitability in a bid to help the country's largest insurer realise its full growth potential and yield better returns for investors, an official said. Life Insurance Corporation (LIC) has been trading below the issue price of Rs 949 a share ever since it got listed on stock exchanges on May 17. It listed at Rs 872 apiece on NSE. On Tuesday, the scrip settled at Rs 595.50, down 0.72 per cent over the previous close. Foreign brokerages, however, remain bullish on LIC setting a higher target price over the next year as they feel that the insurer has good medium-term market potential, negligible high risk assets and robust core operating Return on Embedded Value (ROEV). Citi in a research report dated October 14 set a target price of Rs 1,000 for LIC scrip, saying LIC is 'positioned better than mature global players'. The finance ministry in its performance review has been sensitising the LIC management about th

Life insurers' retail protection biz down YoY, seen stabilising going ahead

Max Life bucks trend with 11% YoY growth in retail protection APE in Q2

Torrent group to make Rs 2,900-cr bid for Reliance Nippon Life Insurance

Reliance Capital is undergoing a bankruptcy process and the administrator had sought offers for the entire company and for its various business clusters

Consider loss of cover, deductions before surrendering life insurance plan

If your income is likely to revive soon, consider taking a loan against the policy instead of surrendering it

Retail protection demand should come back in H2 of FY23: HDFC Life MD & CEO

Vibha Padalkar talks about the company's performance in Q1 and its growth plans going forward

Irdai proposes limits on expenses of management of life insurers

Insurance regulator releases exposure draft aiming to provide greater flexibility to insurers as far as their corporate agency tie-ups are concerned

Irdai empowers insurers to empanel hospitals for cashless facility

Regulator asks companies to publish board-approved empanelment criteria on their websites periodically; insurers to focus on quality of healthcare services of hospitals being empanelled

HDFC Life Q1 net up 21% to Rs 365 cr on VNB surge, lower mortality reserves

VNB up 25% YoY to Rs 510 cr, annualised premium equivalent grew 22% to Rs 1,904 cr; Solvency ratio at 178%, slightly above the regulatory norm of 150%

Irdai wants life insurance firms to eye 50% premium growth in 5 years

Irdai extended the "use & file" procedure to most life insurance products, barring individual savings, individual pensions, and annuity products

Life insurers' new business premiums grow 4.1% in June to Rs 31,254 cr

However, in Q1, the industry posted a 40% YoY growth in new biz premiums

LIC Mutual Fund looks to take cumulative AUM to Rs 25,000 cr by March

It hopes to double its recently launched equity fund to Rs 2,000 crore by the end of December and close the fiscal year

SBI Life, HDFC Life: Insurance stocks can rally up to 20%. Stay put for now

HDFC Life's acquisition of Exide Life Insurance last week has brought back the focus on insurance sector plays. Are they a good bet at the current levels? Here's what charts say

'Current scenario is volatile, but bodes well for the insurance industry'

Kamlesh Rao, managing director and chief executive officer at Aditya Birla Sun Life Insurance shares his views on the road ahead for the life insurance industry