Archive for June 13, 2013
IRDA gives clean chit to LIC in transfer of profits case
Insurance Regulatory and Development Authority (IRDA) on Friday gave a clean chit to Life Insurance Corporation of India , the largest insurance company in India, in alleged violation of rules pertaining to transfer of profits among its various schemes…
LIC set to restructure top management after IRDA prod
Nudged by the regulator, the country’s biggest investor, Life Insurance Corporation (LIC), will restructure its top management to bring in greater transparency in operations…
LIC: Of notional losses & profits
Last week, there was this news item in a number of newspapers about the Life Insurance Corporation discovering (or admitting to, it wasn’t clear which), a Rs 14,000-crore shortfall in three guaranteed return annuity schemes that it runs. This shortfall has come to happen because these schemes were launched with guaranteed returns of around 12% during the 80s and 90s…
NAVs end mixed as markets close flat
Equity diversified NAVs ended mixed with advance:decline ratio of 109:137, as the benchmarks closed volatile session on a flat note but shrugged off strong global cues. Realty, metal, healthcare, FMCG and auto companies’ shares along with L&T, Bharti, Infosys and Reliance Industries supported the markets to end in green. However, financials along with ONGC, Reliance Communications, JSPL, TCS, BHEL and Wipro capped the gains to major extent…
LIC to introduce more Ulip products
State-run Life Insurance Corporation (LIC), after facing tough competition from private sector life insurers, has started gaining market share in recent times. DK Mehrotra, managing director, LIC, speaks to FE’s Kumud Das about the corporation’s strategies to reposition itself in the changing market environment. Excerpts:..
LIC’s Jeevan Akshay-VI: The pros & cons
ET BUREAU
Individuals with no annuity (pension) benefit in retired life can look at purchasing immediate annuity product. LIC’s Jeevan Akshay-VI is a formidable solution here…
Why do managers find decision-making difficult?
Why do managers find decision-making difficult?
After ICICI Securities’ management committee made a strategic decision to extend its private equity intermediation services to smaller companies last year, it had to decide how to execute it. From a minimum cut-off of $30 million, the firm was preparing to service clients with a turnover of $10 million and this required a different mind-set. There were also issues of profitability since servicing small companies brought in less income for the same amount of work…
Insurance industry has grown by leaps and bounds
Mayur Shetty, ET Bureau
In a few days, it will be a decade since ICICI Prudential and HDFC Life sold their first policy, marking the opening of the insurance industry after the Insurance Regulatory and Development Authority, or IRDA, set up shop in 2000. But the anniversary is not restricted to IRDA’s birth or the opening up of the life sector..
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Ulip-wary investors upset insurance co’s premium growth plans
For the first time in several years, the life insurance industry has reported a drop in the renewal premium. For the first half of the current fiscal, life companies have reported a renewal premium income of Rs 62,805 crore, which is over Rs 100 crore lower than the renewal premium of Rs 62,911 crore in the corresponding period last year….
Investment decisions taken at higher levels
Mr T.S. Vijayan, Chairman LIC, said on Thursday that Mr Naresh Chopra, Secretary (Investments) at LIC who was arrested by CBI, did not have the power to make investment decisions. These decisions are taken at a higher level, he said.
An internal enquiry will be conducted, he told a news channel.
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