insurance regulatory and development authority

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...

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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 |

Star Health to raise Rs.150 crore fresh capital


July 31st, 2012 - 5:37 pm ICT by IANS
Chennai, July 31 (IANS) City-based pure play health insurer Star Health and Allied Insurance Company plans to raise around Rs.150 crore equity this fiscal from private equity (PE) funds while ... Read more...

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IRDA plans guidelines to regulate micro-insurance


July 6th, 2012 - 9:53 pm ICT by IANS
Kolkata, July 6 (IANS) India's Insurance Regulatory and Development Authority (IRDA) Friday said it is planning to come out with guidelines for the micro-insurance segment in the country to ensure ... Read more...

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Insurance regulator slaps Rs.1.5 million fine on IndusInd Bank


July 6th, 2012 - 1:02 am ICT by IANS
Chennai, July 5 (IANS) The Insurance Regulatory and Development Authority (IRDA) Thursday slapped a fine of Rs.1.5 million on private IndusInd Bank for violation of corporate agency regulations.IndusInd Bank is ... Read more...

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Insurers to discuss revision in health, motor insurance


July 3rd, 2012 - 4:46 pm ICT by IANS
Chennai, July 3 (IANS) A key panel on the non-life insurance sector will be meeting in Hyderabad Wednesday to discuss the issue of an upward revision in health and motor ... Read more...

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HDFC Standard Life COO quits


July 3rd, 2012 - 4:25 pm ICT by IANS
Chennai, July 3 (IANS) Private life insurer HDFC Standard Life Insurance Company Ltd.'s executive director and chief operating officer Paresh Parasnis has put down his papers, said company and industry ... Read more...

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Penalty on HDFC Standard Life seen as warning


July 3rd, 2012 - 3:37 pm ICT by IANS
Chennai, July 3 (IANS) A warning bugle for the industry is what life insurance officials say of the Rs.1.47 ($333,000) crore penalty imposed by the insurance regulator on HDFC Standard ... Read more...

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HDFC Standard Life Insurance fined Rs.1.47 crore


June 28th, 2012 - 11:48 pm ICT by IANS
Chennai, June 28 (IANS) The Insurance Regulatory and Development Authority (IRDA) slapped a fine of Rs.1.47 crore on HDFC Standard Life Insurance Company.Passing the penalty order, which was made public ... Read more...

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Non-life insurers post 18 percent growth in May 2012


June 28th, 2012 - 1:22 am ICT by IANS
Chennai, June 27 (IANS) The Indian non-life insurance sector logged an overall premium growth of 18.27 percent in May 2012 as compared to the same period of 2011, as ... Read more...

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Financial stability panel takes up Eurozone contingency plan


June 14th, 2012 - 9:23 pm ICT by IANS
Hyderabad, June 14 (IANS) A sub-committee of the Indian government's Financial Stability Development Council (FSDC) Thursday discussed recent developments in the global economy, specifically in the Eurozone, the US and ... Read more...

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Magma to roll out housing finance, gold loan business FY13


April 27th, 2012 - 7:43 pm ICT by IANS
Kolkata, April 27 (IANS) Magma Fincorp will roll out housing finance and gold loan businesses this fiscal. The city-base non-banking finance company is also awaiting the insurance regulator's nod to ... Read more...

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Bharti AXA to infuse Rs.200 crore additional capital in 2012


March 5th, 2012 - 5:55 pm ICT by IANS
Kolkata, March 5 (IANS) Private sector insurer Bharti AXA General Insurance is looking at an additional Rs.200 crore capital infusion this calendar year to fund its expansion plans, a top ... Read more...

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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...

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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...

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India’s insurable population over 57 crore


November 29th, 2011 - 9:42 pm ICT by IANS
New Delhi, Nov 29 (IANS) The approximate total number of insurable Indians is over 57 crore, parliament was informed Tuesday."Based on the working population, as per census 2001 data, the ... Read more...

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Rakesh Jain to head Reliance General Insurance


October 21st, 2011 - 3:00 pm ICT by IANS
Mumbai, Oct 21 (IANS) The board of directors of private non-life insurer Reliance General Insurance Company Friday announced the appointment of Rakesh Jain as its new CEO and executive director.The ... Read more...

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Insurance regulator fines HDFC Standard Life for claims delay


October 5th, 2011 - 10:50 pm ICT by IANS
Chennai, Oct 5 (IANS) India's insurance regulator Wednesday imposed a fine of Rs.500,000 on Mumbai-based private life insurer HDFC Standard Life Insurance Company Ltd for not having in place effective ... Read more...

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IPO norms to be out once valuation method is finalised: IRDA chief


September 15th, 2011 - 5:36 pm ICT by IANS
New Delhi, Sep 15 (IANS) Guidelines for allowing insurance companies to come out with initial public offerings will be out as soon as the regulator decides on the methodology to ... Read more...

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Highest net asset value cover plans are risky: IRDA chief


September 15th, 2011 - 4:39 pm ICT by IANS
New Delhi, Sep 15 (IANS) Unit-linked life insurance products that promise buyers returns based on highest net asset value (NAV) achieved during the tenure of the policy are "risky" and ... Read more...

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Deregulate savings bank account product wholly: PNB chief


August 24th, 2011 - 10:59 pm ICT by IANS
Kolkata, Aug 24 (IANS) Stressing the need to deregulate the savings account product in its entirety, a top official of the state-run Punjab National Bank Wednesday said mere deregulation of ... Read more...

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Tripura gets tougher law for illegal financial firms


August 18th, 2011 - 4:00 pm ICT by IANS
Agartala, Aug 18 (IANS) The Tripura government has enforced a tougher law which provides extra protection to those depositing money in unauthorised Non-Banking Financial Companies (NBFCs), a minister said here ... Read more...

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Indian Bank to raise $500 mn for overseas operations


July 29th, 2011 - 7:55 pm ICT by IANS
Chennai, July 29 (IANS) Chennai-based public sector Indian Bank has decided to raise up to $500 million loan shortly for its overseas operations, the bank's chairman said here Friday.Speaking to ... Read more...

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Apex finance panel agrees with RBI rate hike


July 27th, 2011 - 8:54 pm ICT by IANS
New Delhi, July 27 (IANS) An apex panel of financial sector regulators, headed by Finance Minister Pranab Mukherjeee, Wednesday agreed with the latest Reserve Bank of India's (RBI) ... Read more...

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IRDA fines SBI Life Insurance Rs.70 lakh


July 9th, 2011 - 12:59 pm ICT by IANS
Chennai, July 9 (IANS) The Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs.70,00,000 on SBI Life Insurance company for paying around Rs.204 crore to eight ... Read more...

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Proposed new insurance norms may adversely impact mergers (Lead)


July 3rd, 2011 - 4:24 pm ICT by IANS
Chennai, July 3 (IANS) India's insurance regulator may be attempting to override legal provisions while also seeking to prevent promoters from exiting ventures within 10 years of starting operations, experts ... Read more...

Posted in Business |

Proposed new insurance norms may adversely impact mergers


July 3rd, 2011 - 12:45 pm ICT by IANS
Chennai, July 3 (IANS) India's insurance regulator may be attempting to override legal provisions while also seeking to prevent promoters from exiting ventures within 10 years of starting operations, ... Read more...

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Norms soon for calculating embedded value of insurers


June 26th, 2011 - 10:47 pm ICT by IANS
Chennai, June 26 (IANS) India's insurance regulator, the Insurance Regulatory and Development Authority (IRDA), will shortly come out with the norms for calculating the embedded value - the current discounted ... Read more...

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Non-life insurers log 27 percent business growth in May


June 25th, 2011 - 7:45 pm ICT by IANS
Chennai, June 25 (IANS) The Indian non-life insurance sector logged around 27 percent business growth in May 2011 over the corresponding period in 2010, as per the figures released by ... Read more...

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Indian insurers don’t have database for Solvency II: Regulator


June 23rd, 2011 - 7:07 pm ICT by IANS
Kolkata, June 23 (IANS) The Indian insurance industry does not have the statistical database to adopt Solvency II - new rules likely to change the way insurance companies keep aside ... Read more...

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Non-life insurers’ merger norms discriminatory: Experts


June 12th, 2011 - 5:55 pm ICT by IANS
Chennai June 12 (IANS) The merger and amalgamation (M and A) regulations notified by the Insurance Regulatory and Development Authority (IRDA) is discriminatory, inconsistent with the Insurance Act, say industry ... Read more...

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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...

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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 |

Court notice on insurance for AIDS patients


May 12th, 2011 - 12:57 am ICT by IANS
New Delhi, May 11 (IANS) The Delhi High Court Wednesday issued notice to the Insurance Regulatory and Development Authority (IRDA) on a petition to make HIV/AIDS patients eligible for health ... Read more...

Posted in Uncategorized |

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