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...

Insurance penetration in India likely to cross 4% this year: ASSOCHAM

New Delhi: Insurance penetration in India is expected to cross the 4 per cent mark by the end of 2017 on the back of various insurance schemes launched by the Government of India, ...

Digital transactions rose to 3 crore a day in 2016: Ravi Shankar Prasad

New Delhi: Mr Ravi Shankar Prasad, Minister of Communications and Information Technology (IT), has stated that the number of digital transactions in India have increased to 30 mill...

Railways plans massive track expansion in Arunachal Pradesh, connect Tawang

Guwahati: Union Ministry of Railways plan to cover the length and breadth of Arunachal Pradesh by rail network requiring an initial investment of around Rs 50,000 – 70,000 cr...

NY Life to lead 30% buy in forex unit of Centrum

Mumbai: New York Life Investments, the global asset management division of New York Life, along with other investors like Jacob Ballas, will own a significant minority ownership in...

Cabinet approves Listing of Government owned General Insurance Companies at the stock exchanges

New Delhi: The Union Cabinet has approved the public listing of five Government-owned general insurance companies and reducing the Government’s stake to 75 per cent from 100 ...