IRDAI Fines Canara HSBC Life ₹1 Crore Over Mis-Selling
IRDAI has fined Canara HSBC Life Insurance ₹1 crore after finding it mis-sold a deferred annuity policy to an 88-year-old senior customer. The insurer disclosed...
Tag : IRDAI
Axis Max Life CEO on Reverse Merger With Max Financial
Axis Bank plans to hike its stake in Max Life ahead of a reverse merger with Max Financial Services, according to CEO Sumit Madan. The...
ICICI Prudential Life Signs Deal With Prudential IP Services
ICICI Prudential Life has signed a transitional agreement with Prudential IP Services, the entity that licenses it the Prudential brand name. The company disclosed the...
India’s Insurance Sector Grew 2.6x in a Decade: IRDAI
India’s insurance industry has grown sharply in a decade, with life insurance up 2.5-2.6x and general insurance up 3.6x, IRDAI says. Seth shared these numbers...
Irdai Sees Buying Green Bonds as Infrastructure Investment
Insurance regulator Irdai said insurers were encouraged to invest in sovereign green bonds, which would be considered “infrastructure investments”. To de-concentrate and diversify insurers’ infrastructure...
Banks can Now Work with 9 Insurers as Govt Notifies Revision of Insurance Intermediary Regulations
The government has notified the amendments to the Insurance Intermediaries Regulations. As part of this, the maximum number of collaborations between Corporate Agents (CAs) and...
IRDAI Writes to SEBI to Review Axis Bank-Max Life Stock Trading
On October 31, CNBC-TV18 reported that Insurance Regulatory and Development Authority (IRDAI) has written to SEBI to review Axis Bank-Max Life stock trading. According to...
IRDAI Fines Max Life Insurance Rs 3 Crore for Breaking Rules
The Insurance Regulatory and Development Authority (IRDAI) said on October 14 that it had fined Max Life Insurance Company a total of Rs 3 crore...
IRDAI Approves Merger of Exide Life into HDFC Life
Insurance regulator Irdai has given final approval to HDFC Life Insurance Company Ltd (HDFC Life) to incorporate Exide Life into the company. In January this...
Govt, LIC Jointly Divest 60.72% Stake in IDBI Bank
The Department of Investment and Public Assets Management (DIPAM) on October 7 invited potential bidders to submit expressions of interest (EoI) for the strategic divestment...