New Delhi: Global agency Moody's on Monday said it is reviewing rating of state-owned LIC for a possible downgrade over its huge exposure to government bonds. "Moody's has placed the insurance financial strength rating of Life Insurance Corporation of India (LIC) (Baa2/stable) under review for possible downgrade," Moody's Investors Service said in a statement. It said that the credit quality of financial institutions, with high levels of domestic sovereign debt...
02:30 AM, May 01, 2012
Mumbai: From June 1, 2011 LIC of India is launching a New Non-Linked Health Insurance Plan "Jeevan Arogya". The plan offers comprehensive hospitalization benefits for the whole family of the Principal Insured. A unique feature of this plan is that it also offers to cover the Parents in-law of the Principal Insured besides spouse, minor children and parents. There is a provision for inducting additional members or removal of existing...
11:35 AM, Jun 01, 2011
Mumbai: In the largest such deal in Indian insurance space, the Reliance Anil Dhirubhai Ambani Group on Monday said it has roped in Nippon, the sixth largest in the business globally, for a 26 per cent stake in a group company for $680 million. "Nippon Life Insurance will invest an aggregate value of Rs.3,062 crore ($680 million) to acquire a 26-per cent strategic stake in Reliance Life Insurance," the Anil...
02:53 PM, Mar 14, 2011
New Delhi: The all-India Life Insurance Corporation (LIC) entrance exam paper for the 375 posts of assistant administrative officer was allegedly leaked. The police got a tip off on Saturday night and had the examination paper in their possession. The Delhi crime branch has the exam paper in its possession. Raids were carried out at the two centres in Janakpuri and Andrews Ganj. "The question papers have been leaked. We...
10:13 AM, Feb 27, 2011
New Delhi: The Economic Survey 2010-11 on Friday said there will be different set of norms for life and non-life insurance companies for coming out with a public float. "It is proposed that the disclosure requirements for life and non-life companies would be separately mandated given the nature of their respective business," the Economic Survey tabled in the Parliament said. The Survey said that investors would be required to be...
01:36 PM, Feb 25, 2011
Budget 2010-11 is round the corner. In the last year's budget announcement, some significant changes were made to the taxation of insurance and saving instruments. The removal of service tax on all charges under unit linked insurance products (ULIP) except on FMC, has benefited the policyholders. Also, the reduction in tax rate upto Rs 8 lakhs ensures more money in the hands of the tax payer, which will promote savings....
02:10 PM, Feb 23, 2011
![SEBI moves SC over ULIP]( "SEBI moves SC over ULIP")
The Supreme Court on Friday issued notices to the Centre and 14 life insurers on a petition by Sebi. ...
04:13 PM, Apr 30, 2010
IRDA on Saturday issued an order asking the life insurers to defy SEBI and continue selling ULIPs. ...
05:12 PM, Apr 11, 2010
SEBI on Saturday banned the sale of unit linked insurance plans by 14 major life insurance companies. ...
09:44 AM, Apr 11, 2010
Says middle class will have more income due to lower tax. ...
06:45 PM, Feb 26, 2010
Treating life insurers at par with mutual fund sector on service tax will boost the sector. ...
05:22 PM, Feb 26, 2010
The insurance industry wants to raise foreign direct investment cap to 49 per cent, also. ...
10:49 AM, Feb 22, 2010
Amount of life insurance you need depends on the 'income stream'. ...
11:59 AM, Nov 23, 2009
There's a fine line between insurance and investments yet it goes unnoticed. ...
12:37 PM, May 26, 2009
Buying life insurance heralds the beginning of adulthood. ...
04:20 PM, Feb 06, 2009
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