insurance business

General insurers, with value twice of equity base, can tap public: IRDA


September 19th, 2012 - 1:06 am ICT by IANS
Chennai, Sep 18 (IANS) Ten years in business with an embedded value of at least twice the paid capital and maintaining a solvency margin are some of the terms that ... Read more...

Posted in Business |

Reliance Life Insurance in talk with banks for tie-up


August 19th, 2012 - 5:52 pm ICT by IANS
Bangkok, Aug 19 (IANS) The Reliance Life Insurance Company, a unit of the Anil Ambani-led Reliance Capital, is in talks with several public and private sector banks to utilise ... Read more...

Posted in Business |

Polaris launches new insurance claims processing solution


May 21st, 2012 - 10:51 pm ICT by IANS
Chennai, May 21 (IANS) Banking, financial services and insurance (BFSI) sector software company Polaris Financial Technology Monday launched its insurance claims processing software Intellect Claims.In a statement issued here, the ... Read more...

Posted in Business |

Infosys swaps global business heads


February 3rd, 2012 - 6:56 pm ICT by IANS
Bangalore, Feb 3 (IANS) Global software major Infosys swapped leadership positions in financial services and manufacturing business to enhance client servicing and broaden their experience, the IT bellwether said Friday.Global ... Read more...

Posted in Sci-Tech |

Star Health says it is in good health despite business loss


January 5th, 2012 - 8:13 pm ICT by IANS
Chennai, Jan 5 (IANS) City-based standalone health insurer Star Health and Allied Insurance Company Thursday said it is sure of closing this fiscal with a gross premium of Rs.1,200 crore ... Read more...

Posted in Business |

Reliance Cap Q2 total income rises 19 percent


November 11th, 2011 - 7:18 pm ICT by IANS
New Delhi, Nov 11 (IANS) Financial services major Reliance Capital, part of the Reliance Group, Friday reported an increase of 19 percent in total income at Rs.1,546 crore for the ... Read more...

Posted in Business |

Non-life insurers post 19 percent growth in April


May 31st, 2011 - 7:28 pm ICT by IANS
Chennai, May 31 (IANS) The Indian non-life insurance sector logged a business growth of 19.87 percent last month as compared to the gross premium earned during April 2010.According to the ... Read more...

Posted in Business |

Flexibility needed to fill vacancies at insurance regulator: Expert


May 30th, 2011 - 3:39 pm ICT by IANS
Chennai, May 30 (IANS) The Insurance Regulatory and Development Authority (IRDA) may not face problems in filling up vacancies when two of its top actuaries retire next month if the ... Read more...

Posted in Business |

Insurance regulator faces actuarial vacuum


May 24th, 2011 - 4:47 pm ICT by IANS
Chennai, May 24 (IANS) The Insurance Regulatory and Development Authority (IRDA) is finding it difficult to get replacements for its actuaries, with two of its senior experts in the area ... Read more...

Posted in Business |

HDFC quarterly net profit up 23.27 percent


May 10th, 2011 - 4:19 pm ICT by IANS
Mumbai, May 10 (IANS) Housing finance major HDFC Tuesday reported a 23.27 percent rise in net profit for the quarter ended March 31 at Rs.1,141.95 crore compared to Rs.926.3 crore ... Read more...

Posted in Business |

Taped call suggests Rajat Gupta told Rajaratnam about Goldman plans


March 16th, 2011 - 12:29 pm ICT by IANS
New York, March 16 (IANS) Rajat Gupta, a former Indian American Goldman Sachs director, told hedge fund tycoon Raj Rajaratnam the investment bank was considering buying a commercial bank, according ... Read more...

Posted in World |

‘True happiness’ comes at the golden age of 50


January 20th, 2011 - 12:55 pm ICT by ANI
London, Jan 20 (ANI): Turning 50 today? Well, you're entering the golden age of happiness.Many of those who have passed their half century are enjoying the time of their lives - ... Read more...

Posted in Health Science |

Shriram group to divest 20 percent in Shriram Capital to Sanlam


January 12th, 2011 - 4:49 pm ICT by IANS
Chennai, Jan 12 (IANS) The city-based Shriram group plans to divest around 20 percent in its financial services business holding company, Shriram Capital, for around Rs.900 crore ($200 million) in favour of ... Read more...

Posted in Business |

Reliance Capital reports strong growth in core businesses (Second Lead)


November 13th, 2010 - 7:49 pm ICT by IANS
Mumbai, Nov 13 (IANS) Reliance Capital, the financial services arm of the Anil Ambani Group, Saturday reported a 51 percent jump in earnings from major operating businesses for the quarter ended Sep ... Read more...

Posted in Business |

Reliance Capital reports 51 percent jump in earnings (Lead)


November 13th, 2010 - 7:19 pm ICT by IANS
Mumbai, Nov 13 (IANS) Reliance Capital, the financial services arm of Anil Ambani Group, Saturday reported a 51 percent jump in earnings from major operating businesses for the quarter ended Sep 30 ... Read more...

Posted in Business |

Reliance Capital net profit dips 28 percent


November 13th, 2010 - 6:30 pm ICT by IANS
Mumbai, Nov 13 (IANS) Reliance Capital, the financial services arm of the Anil Dhirubhai Ambani Group (ADAG), Saturday reported a 28 percent decrease in net profit for the quarter ended Sep 30 ... Read more...

Posted in Business |

Real Housewives Star Vicki Gunvalson Opts For Divorce


October 20th, 2010 - 8:54 pm ICT by Pen Men At Work
October 20, 2010 (Pen Men at Work): The latest buzz reveals that Vicki Gunvalson, the star of the Real Housewives of Orange County has made up her mind to divorce ... Read more...

Posted in Entertainment |

Anil Ambani group scrips end higher on plan announcements


September 28th, 2010 - 6:51 pm ICT by IANS
Mumbai, Sep 28 (IANS) The scrips of three largest firms in the Reliance Anil Dhirubhai Ambani Group ended higher on the stock markets after near-to-medium-term business plans were unveiled at their respective ... Read more...

Posted in Business |

Court bars foreign insurer’s agent from selling policies


September 26th, 2010 - 6:28 pm ICT by IANS
New Delhi, Sep 26 (IANS) The Delhi High Court has dismissed the plea of a company which sought permission to sell health insurance policies on behalf of a Ukrainian firm. Radiant Overseas approached ... Read more...

Posted in Business |

He loves to hear leaders abuse each other at rallies


September 7th, 2010 - 1:48 pm ICT by IANS
Kolkata, Sep 7 (IANS) For 75-year-old Sambobrata Bandopadhyay, attending the rallies of important political leaders in Kolkata is a great pastime. "I attend all political rallies. I don't have any political affiliation. ... Read more...

Posted in Politics |

Reliance Capital Q1 profit dips 49 percent


August 9th, 2010 - 8:21 pm ICT by IANS
Mumbai, Aug 9 (IANS) Anil Ambani-led Reliance Capital said Monday its first quarter profit dipped 49 percent mainly because of Rs.39 crore loss in its insurance business and lower capital gains. The ... Read more...

Posted in Business |

ADAG takes a step forward to snap up Royal Sundaram


July 14th, 2010 - 6:40 pm ICT by IANS
Chennai, July 14 (IANS) The Reliance Anil Dhirubhai Ambani Group (ADAG) is planning to snap up the city-based non-life insurer, Royal Sundaram Alliance Insurance Company, according to sources close to the development. The ... Read more...

Posted in Business |

Insurance Regulatory Authority cancels license of 4261 agents


June 10th, 2010 - 2:54 pm ICT by ANI
New Delhi, June 10 (ANI): The Insurance Regulatory Development Authority of India (IRDA) has cancelled the licences of 4,260 corporate agents of various insurance companies as they did not seek renewal of ... Read more...

Posted in National |

Court ticks off LIC for faulty clauses


April 8th, 2010 - 8:27 pm ICT by IANS
New Delhi, April 8 (IANS) The Delhi High Court Thursday pulled up the Life Insurance Corporation (LIC) of India for not acting "fairly or reasonably" in refusing an insurance claim and harassing ... Read more...

Posted in Uncategorized |

State-run banks can enter insurance business


March 17th, 2010 - 8:43 pm ICT by IANS
New Delhi, March 17 (IANS) The government will not prevent public sector banks from entering new businesses like insurance and mutual funds, a senior finance ministry official said Wednesday. "There is no issue ... Read more...

Posted in Business |

Former Louisiana Senator sentenced to prison for role in money laundering


February 12th, 2010 - 4:44 am ICT by BNO News
NEW ORLEANS, LOUISIANA (BNO NEWS) – Former Louisiana State Senator was sentenced for participating in a money laundering conspiracy on Thursday, U.S. Attorney Jim Letten said.Derrick D.T. Shepherd, 40, from Marrero, Louisiana, ... Read more...

Posted in World |

Bharti Axa to offer innovative motor policy


December 14th, 2009 - 2:38 pm ICT by IANS
Chennai, Dec 14 (IANS) Private non-life insurer Bharti Axa General Insurance Monday said it plans to offer an innovative car insurance policy under which customers will be paid the invoice value/cost of ... Read more...

Posted in Business |

HDFC Standard Life to cut costs before public offer


November 18th, 2009 - 7:44 pm ICT by IANS
Chennai, Nov 18 (IANS) Mumbai-based insurer HDFC Standard Life Insurance has said it wants to rationalise expenses and enhance business before it hits the capital market in 2010-11. "We are now ... Read more...

Posted in Business |

Infosys to buy US insurance back office firm for $38 mn


November 12th, 2009 - 5:29 pm ICT by IANS
Bangalore, Nov 12 (IANS) Infosys Technologies will acquire the US-based insurance business process solutions provider McCamish Systems for $38 million (Rs.1.77 billion/Rs.177 crore) in an all-cash deal, the IT bellwether said Thursday. In ... Read more...

Posted in Business |

HSBC enters China’s life insurance market


August 27th, 2009 - 4:59 pm ICT by IANS
Shanghai, Aug 27 (Xinhua) HSBC Life Insurance Company Limited, a joint venture set up by HSBC and the Beijing-based National Trust, opened for business in Shanghai Thursday, marking the global financial giant's ... Read more...

Posted in Business |

Chola Insurance to target Japanese, Korean firms for business


August 4th, 2009 - 11:04 pm ICT by IANS
Chennai, Aug 4 (IANS) Non-life insurer Cholamandalam MS General Insurance (Chola MS), a joint venture between city-based Murugappa Group and Japan's Mitsui Sumitomo Insurance Group, Tuesday said it will continue targeting Korean ... Read more...

Posted in Business |

India’s insurance penetration lower than world average: Report


July 21st, 2009 - 9:36 pm ICT by IANS
New Delhi, July 21 (IANS) Despite achieving a healthy 16 percent annual growth rate, India's general insurance business accounts for just 0.6 percent of the gross domestic product (GDP), compared to the ... Read more...

Posted in Business |

Reliance Capital eyes banking, public offer for insurance arm


July 21st, 2009 - 4:38 pm ICT by IANS
Mumbai, July 21 (IANS) Reliance Capital plans to enter the investment banking business over the next year, even as the company is looking to sell part stake in the insurance business to ... Read more...

Posted in Business |

UCO Bank to enter general insurance business


July 3rd, 2009 - 9:09 pm ICT by IANS
Kolkata, July 3 (IANS) State-run UCO Bank will invest Rs.45 crore in its proposed general insurance company, a top bank official said here Friday. "We will pick up a 30-percent stake in the ... Read more...

Posted in Business |

Worst is over for Indian economy: SBI chief (Second Lead)


May 9th, 2009 - 10:14 pm ICT by IANS
Kolkata, May 9 (IANS) The worst is over for the Indian economy and credit has again started flowing into key sectors, O.P. Bhatt, chairman of the country's largest lender State Bank ... Read more...

Posted in Business |

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