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Private insurance major ICICI Prudential Life Insurance has entered into an agreement with public sector lending major – Punjab National Bank (PNB) – to facilitate premium payments through the bank. This is the first of its kind tie-up between a private sector insurer and a state-run bank. As per the deal, the customers of ICICI … Read more ICICI Prudential Life inks pact with PNB for premium payments
India’s largest insurer – Life Insurance Corporation of India (LIC) – has invested around Rs 40,000 crore in equity this fiscal, exceeding the total equity investments made in the last financial year. Every year LIC invests around 8-9% of its total premium collection in the stock markets, majority being in the banking sector. This year … Read more LIC parks Rs 40,000 cr in equity this fiscal
The General Insurance Council (GIC) has drafted a common portable mediclaim policy which states that a customer cannot continue the benefits if he migrates from a common portable mediclaim to another health insurance product. The policy, currently awaiting clearance from the Insurance Regulatory and Development Authority (IRDA), also states that the insured cannot continue the … Read more GIC to introduce portable health insurance policy
As indices have been falling recently, slowly Life Insurance Corporation of India has bought some stocks; mainly they are banks which have faced most of the selling pressure. ICICI Bank 9.38 GAIL 9.98 IOB 7.09 HDFC Bank 7.105 PNB 10 As an investor, you should not get tired of buying. Peter Lynch once said, When … Read more LIC hikes stake in ICICI + HDFC Bank + PNB
The Insurance Regulatory and Development Authority (IRDA) has asked insurance companies not to accept premium money beyond Rs 50,000 in cash and to strictly adhere to anti-money laundering (AML) guidelines. The regulator has instructed insurance companies to accept premium of more than Rs 50,000 through banking channels such as cheque, credit card or demand draft. … Read more Insurance Premium Money over Rs 50,000 by Cheque Only
Universal Sompo General Insurance, a joint venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank, Sompo Japan Insurance and Dabur Investments, is planning to focus on big and mid-sized corporates and farm sector by launching products in the credit and weather insurance segments. The company is currently developing products for these segments and is likely … Read more Universal Sompo to launch credit and weather insurance products soon