Page 9 - Aathira Varier

New surrender-value norms: Max Life pencils in 100-200-bp hit to profit

VNB margin measures the profitability margin for life insurers

LIC's refusal to assign policies to ACESO will be contempt of court: Mehta

Established in 2018, ACESO monetises the assets of LIC policyholders to ensure maximum financial benefits, especially in cases where the policies are surrendered or lapsed

Piramal Enterprises shares tank over 10% after weak Q1 performance

PEL's share prices ended at Rs 881.35 today, down 10.59 per cent on the BSE

Affordable housing finance companies to gain from RBI norms tweak

The RBI tweaked the risk weights for undisbursed loans by capping them at par with those of disbursed loans to address a potential anomaly in the computation of risk-weighted assets of these loans

Piramal Enterprises Q1 results: Net profit down 64% at Rs 181 crore

The retail AUM, which accounts for 72 per cent of the total AUM, increased by 43 per cent Y-o-Y to Rs 50,000 crore

PSBs trim branch network but private sector spreads its net, shows data

Das asked banks to use their branches effectively to mobilise deposits, highlighting the importance of brick-and-mortar structures

LIC drives new biz premium growth of life insurance companies in July

The growth in the premium was driven by LIC, while a high base effect impacted the improvement of private life insurers, analysts said

Deepak Sood appointed as whole time member (non-life) of Irdai

He previously worked as CEO of Avantha Ergo and Future Generali India Insurance and held leadership roles at Bajaj Allianz, Zurich Financial Services, and United India Insurance

Health insurance master circular: General insurers seek 2-month extension

Irdai issued a circular on health insurance products in June and asked general/health insurers to offer a wider range of products to customers

LIC's VNB margin falls short of medium-term target, say analysts

LIC's VNB margins improved by 20 basis points (bps) to 13.90 per cent in Q1 FY25 over the same period last year due to a change in the business mix of the insurer

LIC Q1 FY25 results: Net profit increases 9.6% to Rs 10,461 crore

LIC has booked a profit of Rs 15,500 crore in Q1FY25 from its equity investments

Monetary policy: Some entities not following topup loan norms, says RBI

Credit card spend continues to see high growth despite risk weighting increase

RBI mandates fortnightly credit information reporting to boost transparency

Credit institutions (CIs) are required to report the credit information of their borrowers to credit information companies

Non-Life Insurers premiums up 9.3% in July: General Insurance Council

The motor insurance and health insurance segments have been driving the growth in the non-life insurance industry so far in FY25, industry experts suggested

Hybrid workers drive demand for pay as you drive insurance plans

The insurance regulator had allowed general insurers to introduce pay as you drive and pay how you drive for motor insurance cover in 2022

PB Fintech posts consolidated net profit at Rs 60 crore in Q1 FY25

The overall adjusted Earnings before Tax, Interest, Amortization, Depreciation (EBITDA) margin improved from (-)31 per cent in Q1 FY24 to 12 per cent in Q1 FY25

Go cashless in Paris: JioFinance app forays into international segment

Visa, the official payments partner of the Olympic Games Paris 2024, has partnered with JioFinance for its presence at India House

Muted treasury gains for banks in Q1 FY25 due to new investment norms

Under the new norm, banks must categorise bonds as HTM on a permanent basis, with the exception of 5% of the portfolio that can be withdrawn throughout the year

NBFC growth likely to take a hit as banks show funding reluctance

According to RBI data, as on September 30, 2023, 37.8% of the NBFC borrowing was from banks

Wayanad floods: Irdai instructs insurers to disburse claims immediately

Life and general insurers have been asked to appoint nodal officers to manage claims related to landslides