ICICI Prudential OFS subscribed 3.9 times; investors bid for 210 mn shares

New Delhi: ICICI Prudential’s offer for sale (OFS) which is going to fetch the company Rs 1,683 crore (US$ 233.26 million) was subscribed 3.9 times.

Marsh raises stake in Indian JV to 49 pc

New Delhi: Global insurance broker Marsh, has raised its shareholding in its Indian joint venture to the maximum FDI limit of 49 per cent from 26 per cent.

True North to acquire 51% stake in Max Bupa Health Insurance for Rs 511 cr

New Delhi: True North, a private equity (PE) investor, will acquire a 51 per cent stake in Max Bupa Health Insurance Company for Rs 511 crore (US$ 71.80 million).

Life Insurance - Pradhan Mantri Jeevan Jyoti Bima Yojana; 5,67,88,890 enrolments made and Rs. 2488.44 crore disbursed under the Scheme till 31st December, 2018

New Delhi: Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has received total enrolments of 56.79 million and disbursed a total amount of Rs 2,488.44 crore (US$ 350.80 million) as...

Merger of 3 PSU general insurers to be complete by FY'20

New Delhi: The Government of India is planning to conclude the merger of National Insurance Company, United India Insurance Company and Oriental India Insurance Company by 2019-20....

Easier norms for foreign players to up competition in reinsurance market

New Delhi: India's reinsurance market is expected to witness increased competition driven by relaxation of norms for foreign reinsurers by the Insurance Regulatory and Developm...

Crop insurance scheme designed to profit insurance firms: Chidambaram

New Delhi, Nov 14 (PTI) Former finance minister P Chidambaram targeted the government over its crop insurance scheme Wednesday, alleging that it was designed to profit insurance companies and 84 la...

Govt mulls 100% FDI in insurance broking; insurers' cap to stay at 49%

The government is mulling permitting 100 per cent foreign direct investment (FDI) in insurance broking to give a boost to the sector, sources said.