Monday, January 22, 2018

India

Ergo, Manulife in talks to buy stake in IndiaFirst Life

Ergo, Manulife in talks to buy stake in IndiaFirst Life

The potential buyers are eyeing the stake owned by the UK’s Legal & General Group, which is up for sale.

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IBM awaits Indian regulatory approval on insurance blockchain

IBM awaits Indian regulatory approval on insurance blockchain

The company is hoping to win regulatory approval to deploy the technology for general insurers in India.

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Axis Bank seeks to acquire insurance firm

Axis Bank seeks to acquire insurance firm

The third-largest private-sector bank in India is exploring opportunities in the fast-growing life sector.

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Edelweiss wins India non-life licence

Edelweiss wins India non-life licence

The group is set to become the country’s 33rd non-life company after Irdai approval secured.

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Indian insurers launch financial services blockchain

Indian insurers launch financial services blockchain

It is hoped the project will rein in costs for companies running medical tests and evaluations.

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India’s cyber insurance demand up 50%

India’s cyber insurance demand up 50%

Companies have started to take action over the effects of cyber attacks and data breaches.

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Amazon to invest in Indian insurance startup

Amazon to invest in Indian insurance startup

Mumbai-based online insurance startup Acko is in talks to secure funding from the global e-commerce player.

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Three insurers in bidding to buy India’s Star Health

Three insurers in bidding to buy India’s Star Health

ICICI Lombard, HDFC Ergo and Bajaj Allianz have joined the race to buy India’s biggest standalone health insurer.

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India to revise insurance fund rules

India to revise insurance fund rules

Irdai is looking to keep up with changes in the market and the economic landscape in the country.

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India’s life market expecting stronger growth

India’s life market expecting stronger growth

Low penetration and the rising share of financial assets in household savings is driving premiums.

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Life insurers’ new premiums up 6% in India

Life insurers’ new premiums up 6% in India

LIC still led the pack, but total new premium collected by all private insurers grew 32%.

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India allows PE funds to own insurance companies

India allows PE funds to own insurance companies

Private equity funds can now own up to 10% of the paid-up equity of an insurer, says Irdai.

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LIC books 12% first half premium income growth

LIC books 12% first half premium income growth

The results were driven by profits from the sale of equities during the period.

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Reliance General gets final clearance for IPO

Reliance General gets final clearance for IPO

The offering will account for 25% of the post issue paid-up capital of the insurer.

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PE funds will be allowed as promoters of Indian insurers

PE funds will be allowed as promoters of Indian insurers

Irdai has approved a proposal to allow private equity funds to promote insurance companies through SPVs.

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Oriental Insurance announces listing plan

Oriental Insurance announces listing plan

The company plans to list on several bourses in line with the government’s programme in 2018-19.

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Regulatory reforms and strong economy boost insurers in India

Regulatory reforms and strong economy boost insurers in India

The rating agency forecasts the non-life insurance sector to maintain its double-digit growth over the next three-to-four years.

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Dozen bidders eye purchase of Star Health

Dozen bidders eye purchase of Star Health

Financial and strategic investors have joined the fray to buy the Chennai-based insurer from its private equity owners.

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