IRDAI plans lower commissions, minor hit for PSU Banks
IRDAI proposed lower insurance commissions and tighter spending limits; public sector banks expect only a minor impact on earnings. The regulator released the draft on...
Tag : IRDAI
Ather Energy Arm Secures IRDAI Licence to Sell Insurance
Ather Energy insurance arm secured an IRDAI licence to offer life, health and general policies, giving the EV maker a new revenue stream. India’s insurance...
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...
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...