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  • Parliamentary Panel Recommends 49% Cap on Foreign Investment in Insurance
    The select committee report said that the cap on foreign investment in insurance include foreign direct investment and foreign portfolio investments.
  • Introduce 'Jan Bima Yojna' for Insurance: IRDA to Government
    The Narendra Modi-led government launched the 'Jan Dhan Yojana' in August this year with an aim to deepen the banking penetration, and the banks have so far responded by opening over 6 crore basic accounts of the targeted 7.5 crore.
  • 'Hike in FDI Insurance Cap Will Help Sector's Growth'
    The proposed hike in Foreign Direct Investment (FDI) cap from 26 per cent to 49 per cent in the insurance sector will lead to higher growth of the industry, a top official of United India Insurance company said on Wednesday.
  • United India Insurance Keen to Re-enter Overseas Markets
    United India chairman and managing director Milind Kharat said the company may look at markets of the Middle East and Sri Lanka to begin with, as these markets offer good business potential.
  • LIC Favours Raising FDI Cap in Insurance Sector to 49%: Report
    Sources said LIC Chairman S K Roy, while presenting the view of the country's largest insurer at a recent meeting of the select committee, was in favour of raising the cap from 26 per cent now, which according to some members is "politically motivated."
  • Sanlam to Spend $52 Million to Raise India Insurance Stake
    Sanlam Ltd, South Africa's largest insurer by market value, plans to spend up to 550 million rand ($52 million) to increase its stake in the insurance arm of India's Shriram Group to 49 per cent by the end of the year, its chief executive said on Thursday.
  • People Now Prefer Short Term Insurance Plan, Says LIC Official
    Speaking at the launch of LIC's new insurance plan, Mr Kumar said that people still see insurance as an investment rather than security for their family.
  • Insurance Bill in Winter Session of Parliament: Arun Jaitley
    The much-delayed Insurance Bill, which seeks to raise the foreign investment cap in the sector from 26 per cent to 49 per cent, has been referred to the Select Committee of Parliament.
  • Insurers' Websites to Give Unclaimed Amount Details of Customers
    IRDA also said insurance companies should provide a facility in the website to enable policyholders or dependents to find out if any unclaimed amount due are lying with the insurer.
  • HDFC, Birla Sun, Reliance Life Top Irda's Unfair Business Chart
    According to the data on 'Unfair Business Practices', compiled by the insurance regulator Irda, 10,819 complaints were filed by consumers against HDFC Standard life during April 1-July 20, 2014.
  • Cabinet Approves 49% FDI in Insurance
    Barring the public sector insurance companies, all other insurance companies would benefit from higher FDI cap.
  • Insurance Bill May Be Taken Up in Current Session: Finance Ministry
    The move would help insurance firms to get the much needed capital from overseas partners.
  • Private General Insurers Market Share Inch Up 44% in FY14
    Private sector general insurers had a combined market share in terms of gross premium collection at 44 per cent in FY14, up from 42.77 per cent, while public sector companies' share declined to 55.84 per cent, from 57.04 per cent, according to the data.
  • An Employee Dies, a Company Collects the Insurance
    Companies are taking out life insurance policies on their employees, and collecting the benefits when they die. Because company-owned life insurance offers employers generous tax breaks, the market is enormous; hundreds of corporations have taken out policies on thousands of employees.
  • Budget 2014: General Insurance Firms Want Tax Sops to Boost Health Cover for SMEs
    India's Rs 70,000-crore general insurance industry has demanded tax exemption in the forthcoming budget to give boost to corporate health plans of SME employees and retail catastrophe cover.

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