Page 5 - Aathira Varier

Irdai asks insurers to check vulnerabilities in IT systems, take measures

Recently, there was a data breach at Star Health & Allied Insurance's servers and reportedly sensitive data of 31 million customers were put up for sale

Jio Financial Services Q2 results: Net profit rises 3% to Rs 689 crore

The company's total expenses doubled to Rs 142 crore in the quarter under review, compared to Rs 71 crore

ICICI Lombard Q2 FY25 results: Net profit increases 20% to Rs 693 crore

The gross direct premium income (GDPI) rose 10.4 per cent Y-o-Y to Rs 6,721 crore from Rs 6,086 crore

Customer connect can help avert MUDRA loan crisis, says SBI Dy MD

In August, the Finance Minister had said that public sector banks' non-performing assets (NPA) in the MUDRA loan category stood at 3.4 per cent in FY24, compared to 4.7 per cent in FY21

Pvt life insurers mull new model for commission for distributor channels

Clawback, deferral, or reduction in payouts on the cards for distributors

Irdai extends IFRS 17 deadline to FY27; aims to give ample time to cos

Previously, Irdai had set a timeline of FY25 for the implementation of IFRS 17 in the insurance sector

Yes Bank appoints Nirav Dalal as country head of financial market division

Dalal holds a master's degree in business administration (finance) from the K.J. Somaiya Institute of Management Studies & Research

Housing finance firm WEAVER acquires Capital India Home Loans for Rs 267 cr

The company will raise up to Rs 800 crore from private equity funds to finance the acquisition and fuel its expansion plans

IRR changes due to interest rates, not regulation: HDFC Life MD & CEO

She talks about the company's Q2 performance and the way forward

Prasun Sikdar appointed as MD, CEO of Bima Sugam India Federation for 3 yrs

Sikdar's appointment as MD and CEO was approved by the Insurance Regulatory and Development Authority of India

CCI clears Central Bank of India's stake acquisition in Future Generali

FEL holds direct and indirect investments in the general insurer, Future Generali India Insurance Company Limited, which is a joint venture between the company and Genera Group

HDFC Life Q2FY25 results: Net profit rises nearly 15% to Rs 433 crore

Its value of new business (VNB) increased 17.1 per cent Y-o-Y to Rs 938 crore in Q2, compared to Rs 801 crore in the year-ago period

Payments major PhonePe launches firecracker insurance policy for Diwali

The plan can be purchased on the PhonePe app and provides coverage to families by insuring up to four family members, including the user, their spouse, and up to two children

Upper limit for LIC's new endowment plan reduced to 50 years from 55 years

The revision is effective October 1, 2024, 'LIC New Endowment Plan-914' is a participating endowment plan that offers the dual benefit of protection-cum-savings plan

LIC launches single-premium micro-term insurance for financial groups

LIC's new plan offers simple and affordable life insurance for financial institutions to cover their members

Life insurance firms report 14% growth in new biz premiums in September

In H1, new business premiums of life companies was up 19% YoY

LIC reduces entry age for its new endowment plan to 50 years from 55

Endowment is an insurance policy that provides life cover and maturity benefit

AM Best upgrades credit ratings of GIC Re's to 'A-' (Excellent)

The outlook for both ratings has been revised to stable. In addition, AM Best has reaffirmed GIC Re's India National Scale Rating (NSR) of aaa.IN (Exceptional) with a stable outlook

Jio Finance App now available on Google Play Store, Apple Store, MyJio

In addition, features such as seamless Unified Payments Interface (UPI) payments, mobile recharge, and the ability to pay credit card bills are empowering customers to transact digitally with ease

Give borrower info until loan cycle or shutdown: RBI to credit institutions

In these cases, the repayment history of these entities' borrowers is not updated, even if they continue to repay or clear their dues