XL Group to buy 20% stake in Mahindra Finance's insurance arm

Mumbai: XL Group will be acquiring 20 per cent stake in Mahindra Insurance Brokers Limited, thereby valuing the insurance broker at Rs 1,300 crore (US$ 200.24 million).

New India Assurance files for IPO

Mumbai: Government-owned general insurance company, New India Assurance Co Ltd (NIA), filed the prospectus for its initial public offering (IPO) on August 10, 2017 for a ...

Govt launches pension scheme with 8% guaranteed returns for senior citizens

Mumbai: Government of India has launched Pradhan Mantri Vaya Vandana Yojana for senior citizens, that provides 8 per cent guaranteed annual return.

LIC sets record on claims front, settles 99.92% cases

Mumbai: The Life Insurance Corporation (LIC) of India hits a record claim performance of 99.92 per cent settlement of death claims in FY 2016-17, as against an industry average of ...

Environment ministry planning to ease coastal regulation norms

New Delhi: The Ministry of Environment, Forest and Climate Change, Government of India, is planning to revise India's coastal regulation norms aimed at opening up the 7,500 km ...

Kotak buys out Old Mutual's 26% stake for ~1,293 cr in insurance arm

Mumbai: Kotak Life will become a fully owned entity by Kotak Mahindra Bank as it buys out Old Mutual's 26 per cent stake in Kotal Life for Rs 1,293 crore (US$ 201 million).

Post-demonetisation, some insurers see steep growth

Chennai: India's insurance sector registered the second largest inflows after bank deposits, post the demonetisation drive of government, with ICICI Prudential posting a year-o...

30% of area sown under rabi crops gets PM insurance cover

New Delhi: Under the Pradhan Mantri Fasal Bima Yojna (PMFBY), more than 19 million hectares, which is about 30 per cent of the total sown area received crop insurance cover amounti...