insurance firms

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 |

Firewalls needed between banks and insurance firms: Survey


March 15th, 2012 - 6:22 pm ICT by IANS
Chennai, March 15 (IANS) The Economic Survey tabled in parliament Thursday voiced concern about the growing linkages between the banking and insurance sectors and said firewalls should be built between ... Read more...

Posted in Business |

HCL to provide IT services to US insurance group


February 15th, 2012 - 9:38 pm ICT by IANS
Bangalore, Feb 15 (IANS) Leading Indian software major HCL Technologies Wednesday entered into a strategic partnership with Great American Insurance Group (GAIG) to provide IT, back office and infrastructure management ... Read more...

Posted in Business |

Insurance firms might find draft bancassurance guidelines difficult


January 3rd, 2012 - 10:53 pm ICT by IANS
Kolkata, Jan 3 (IANS) The draft guidelines on bancassurance by the Insurance Regulatory Development Authority (IRDA) may turn out to be difficult for a few insurance companies in the country, ... Read more...

Posted in Business |

Parliament okays LIC amendment bill


December 14th, 2011 - 8:46 pm ICT by IANS
New Delhi, Dec 14 (IANS) Parliament Wednesday passed the Life Insurance Corporation (Amendment) Bill that seeks to increase the company's paid-up capital to Rs.100 crore from the existing Rs.5 crore ... Read more...

Posted in Business |

Experts demand rules for stake dilution in insurance firms


December 5th, 2011 - 8:22 pm ICT by IANS
Chennai, Dec 5 (IANS) The government should come out with rules such as setting a time frame for dilution of excess stake held by promoters of life insurance companies as ... Read more...

Posted in Business |

London riots to cost insurers 200 mn pounds


August 10th, 2011 - 7:02 pm ICT by IANS
London, Aug 10 (IANS) Insurance firms in Britain have said the riots in London may cost them around 200 million pounds.Thousands of home-owners and companies were expected to seek damages ... Read more...

Posted in World |

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 |

IPO guidelines for insurance firms by month-end: IRDA chief


April 11th, 2011 - 7:50 pm ICT by IANS
New Delhi, April 11 (IANS) The Insurance Regulatory and Development Authority (IRDA) will issue final guidelines governing initial public offerings (IPOs) of insurance companies by the this month end, ... Read more...

Posted in Business |

China’s government insurance firms commit $455 mn fraud


February 1st, 2011 - 4:26 pm ICT by IANS
Beijing, Feb 1 (IANS) China's two leading state-owned insurance companies have been found guilty of defrauding more than three billion yuan ($455 milllion) in 2009, the country's national auditor has revealed.The ... Read more...

Posted in Business |

Merger norms for general insurance firms in a week


December 11th, 2010 - 8:01 pm ICT by IANS
Chennai, Dec 11 (IANS) A decision on the merger proposal of Royal Sundaram Alliance with Reliance General Insurance is likely soon with the industry watchdog set to announce its new norms on ... Read more...

Posted in Business |

This time, mobile phone users hope for real relief from pesky calls


December 5th, 2010 - 2:47 pm ICT by IANS
By Priyanka Sahay New Delhi, Dec 5 (IANS) Dheeraj Kumar, a real esate broker here and frequent traveller, finally hopes he will be spared from the unwanted calls from tele-marketing firms and the ... Read more...

Posted in Business |

Loan scam a case of graft, not fraud: CBI


November 26th, 2010 - 9:48 pm ICT by IANS
Mumbai, Nov 26 (IANS) The alleged loan scam that resulted in the arrest of senior officials in some banks and financial institutions are individual cases of graft and not fraud, the ... Read more...

Posted in Business |

Britain invites Indian financial firms to set up shop there


September 7th, 2010 - 7:39 pm ICT by IANS
Mumbai, Sep 7 (IANS) Britain Tuesday invited Indian banks, financial and insurance firms to set up businesses in the country. "We want to attract the best of global finance to ... Read more...

Posted in Business |

State-run insurers not to withdraw cashless reimbursement


August 17th, 2010 - 7:14 pm ICT by IANS
New Delhi, Aug 17 (IANS) State-run general insurance companies will not withdraw cashless health or accidental insurance products and customers can avail such services from the network of hospitals approved by the ... Read more...

Posted in Business |

Life insurance firms mull riders to take policyholders for a ride


August 1st, 2010 - 1:26 pm ICT by IANS
By Venkatachari Jagannathan Chennai, Aug 1 (IANS) The dirty tricks departments in life insurance firms are busy at work to beat the new regulations for unit-linked insurance policy (ULIP) issued by the regulator, ... Read more...

Posted in Business |

‘Withdrawal of cashless health treatment retrograde’


July 10th, 2010 - 7:52 pm ICT by IANS
New Delhi/Chennai, July 10 (IANS) Policyholders and corporates subscribing to medical cover are appalled by a move by state-run insurance firms to withdraw cashless facility for treatment, even as several hospitals have ... Read more...

Posted in Business |

Insurance firms told not to blacklist hospitals arbitrarily


May 14th, 2010 - 11:40 pm ICT by IANS
Gandhinagar, May 14 (IANS) The Gujarat High Court Friday directed insurance companies that they cannot blacklist any hospital and refuse passing mediclaims without giving them the opportunity of being heard. The ... Read more...

Posted in Uncategorized |

Government would look into ULIP ban issue: Ashok Chawla


April 12th, 2010 - 3:38 pm ICT by ANI
New Delhi, Apr 12 (ANI): Finance Secretary Ashok Chawla on Monday said the ministry would look into the orders of the two regulators Securities and Exchange Bank of India (SEBI) and Insurance ... Read more...

Posted in Business |

AIG, Bank of America announce bonuses to employees


February 4th, 2010 - 1:31 am ICT by IANS
New York, Feb 3 (DPA) American International Group (AIG) planned to hand out 100 million dollars in bonuses to executives Wednesday, US media reported, despite public outrage over an insurer that has ... Read more...

Posted in Business |

Insurance firms to pay for pillion riders too


December 13th, 2009 - 4:07 pm ICT by IANS
New Delhi, Dec 13 (IANS) Families of pillion riders of two-wheelers and car passengers who die in road accidents will now be eligible for monetary compensation from insurance companies, thanks to the ... Read more...

Posted in Uncategorized |

Regulator cautions insurers on terror funds


November 1st, 2009 - 6:34 pm ICT by IANS
New Delhi, Nov 1 (IANS) Insurance Regulatory Development Authority (IRDA) has cautioned insurance companies against policy holders whose identity matches that of those on the United Nations' list of terrorists or organisations ... Read more...

Posted in Business |

Panjab University students get insurance cover


October 5th, 2009 - 3:20 pm ICT by IANS
Chandigarh, Oct 5 (IANS) More than 10,000 students at the Panjab University here got an insurance cover of Rs.200,000 at a petty premium of Rs.50 per year after the varsity signed an ... Read more...

Posted in Health Science |

MCX-SX currency futures turnover rises tenfold


August 1st, 2009 - 7:02 pm ICT by IANS
Kolkata, Aug 1 (IANS) The MCX Stock Exchange (MCX-SX), which started currency futures trading in October, has seen its daily turnover rising more than tenfold to Rs.3,838 crore in July, a top ... Read more...

Posted in Business |

Interest rate futures to start in August


July 25th, 2009 - 7:21 pm ICT by IANS
Kolkata, July 25 (IANS) Market regulator Securities and Exchange Board of India (SEBI) is planning to allow interest rate futures by next month, a senior official said here Saturday. "We are currently working ... Read more...

Posted in Business |

Regulator’s report on valuation of insurance firms next month


April 9th, 2009 - 10:43 pm ICT by IANS
Kolkata, April 9 (IANS) The country's insurance regulator will introduce fresh guidelines for valuation of insurance companies, a top official said here Thursday. "A committee of actuaries headed by me is currently working ... Read more...

Posted in Business |

US seeks dramatic expansion of financial regulatory powers


March 26th, 2009 - 10:09 pm ICT by IANS
Washington, March 26 (DPA) US President Barack Obama's administration, in a massive overhaul of the country's financial regulatory system, is seeking the power to keep watch on all types of financial ... Read more...

Posted in Business |

Insurance firms may have to publish annual reports


December 31st, 2008 - 12:46 pm ICT by IANS
Chennai, Dec 31 (IANS) Insurance companies may soon have to publish their annual reports in newspapers to bring more transparency. They have also been asked to furnish details of investments made in ... Read more...

Posted in World |

India’s terror insurance pool set to jump: Regulator


December 3rd, 2008 - 4:12 pm ICT by IANS
New Delhi, Dec 3 (IANS) India's terror insurance pool is set to jump from the current level of Rs.750 crore (Rs.7.5 billion/$150 million) in the wake of the recent attack in Mumbai, ... Read more...

Posted in Business |

National Insurance foresees dip in motor insurance business


November 29th, 2008 - 11:45 pm ICT by IANS
Kolkata, Nov 29 (IANS) The state-run National Insurance Company is apprehensive of a 1-2 percent drop in its motor insurance business from the ongoing month due to the economic slowdown, a top ... Read more...

Posted in Uncategorized |

Smart cards, machines taking banking to poor man’s doorstep


September 24th, 2008 - 12:10 pm ICT by IANS
New Delhi, Sep 24 (IANS) A technology solutions firm promoted by, among others, ICICI Bank and the International Finance Corp (IFC) will start in India next month what are called micro deposit ... Read more...

Posted in Uncategorized |

Court pulls up insurance firms for challenging compensation orders


August 18th, 2008 - 10:13 pm ICT by IANS
New Delhi, Aug 18 (IANS) The Delhi High Court Monday criticised insurance companies that frequently challenge lower court orders of accident compensation and said they were after the victim's blood.Dismissing a petition ... Read more...

Posted in Uncategorized |

No separate cover for terror victims: insurance firms


August 6th, 2008 - 4:44 pm ICT by IANS
By P.S. Anantharaman Gandhinagar, Aug 6 (IANS) Both public and private sector general insurance players have declined to offer any separate policy cover to compensate terror victims in case of death or disability. ... Read more...

Posted in Business |

Manmohan Singh government to push unfinished reforms agenda (Lead)


July 24th, 2008 - 7:47 pm ICT by IANS
New Delhi, July 24 (IANS) With the Communists off their backs, Prime Minister Manmohan Singh's government exuded confidence about fast-tracking key reforms in the coming months - a signal that is bound ... Read more...

Posted in Politics |

Trust vote will see reforms come out of closet


July 23rd, 2008 - 5:14 pm ICT by IANS
New Delhi, July 23 (IANS) Armed with a comfortable victory in the trust motion, Prime Minister Manmohan Singh's government was Wednesday ready to push forward some major economic reforms, especially in the ... Read more...

Posted in Business |

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