INDIAFIRST LIFE INSURANCE
IndiaFirst Life's IPO deferred, not shelved: Rushabh Gandhi
Gandhi said the "IPO plan has been deferred but not shelved", and will align with market conditions, which are expected to be more favourable 18 months from now. The company's earlier attempts were hindered by regulatory and market uncertainties.
IndiaFirst Life Insurance appoints Rushabh Gandhi as MD & CEO
IndiaFirst Life Insurance has announced the elevation of Rushabh Gandhi, currently the deputy CEO, as its new MD and CEO. Gandhi, with over 29 years of experience in Indian and international markets, will succeed R.M. Vishakha, who is retiring on June 30. Gandhi's appointment is effective July 1 or upon regulatory approvals. The move aligns with the company's succession planning, leveraging Gandhi's strategic vision and experience in driving growth and profitability. His appointment is subject to IRDAI approval and other statutory clearances.
Bima Sugam approved: Insurance policies set to be more affordable; buying policies, claim-settlement to be easier
IRDAI has approved the proposal to set up Bima Sugam — an online insurance marketplace. From buying insurance policies to renewals to claim settlement to portability to grievance redressal — Bima Sugam aims to provide an 'end-to-end' digital journey to all policyholders. What is Bima Sugam? How will Bima Sugam benefit insurance policyholders? All you need to know
IndiaFirst Life Insurance strengthens leadership deck
“I am happy to announce the strategic leadership appointments of Sunder Natrajan as our CHRO and Amrish Maheshwari as the new CRO. Their proven expertise and dedication align seamlessly with our vision,” Vishakha RM, managing director, IndiaFirst Life Insurance, said in a statement.
IndiaFirst Life targets IPO launch by March
IndiaFirst Life Insurance received approval for an initial public offering from the capital markets regulator Sebi in March last year and aims to float the issue by March. The company is meeting investors to gauge the market sentiment.
5 sectors where this CIO of insurance company is betting on in 2024
ETMarkets spoke to Dr. Poonam Tandon, Chief Investment Officer at IndiaFirst Life on markets risks and sectors to bet on in the next 12 months.
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Free to raise commissions, insurers push annuity plans
The insurance regulator has granted insurers the flexibility to determine commissions across their product range, allowing them to offer higher commissions to distributors for annuities compared to ULIPs and increase the sale of such products.
IndiaFirst Life launches single premium plan
The IndiaFirst Life Guaranteed Single Premium Plan — a nonlinked, non-participating, individual, single premium savings plan offers policyholders guaranteed returns over up to 30 years. It is aimed at people who want to save for retirement and legacy planning.
IndiaFirst Life Insurance launches new G.O.L.D. plan
IndiaFirst Life Insurance Company has launched a non-linked and non-participating product Guarantee of Life Dreams (G.O.L.D.) Plan, that offers policyholders regular long-term income.
NPS rule change: PFRDA allows these investors to buy multiple annuities from the same life insurance company
The Pension Fund Regulatory Development Authority (PFRDA) has informed that it will now allow multiple Annuities for those NPS Subscribers who earmark the annuity corpus more than Rs 10 lakh wherein Rs 5 lakh utilised to buy each annuity scheme.
ETMarkets Smart Talk: Banking, capital goods & defence sector to see traction in FY24: Poonam Tandon
Despite external factors with respect to inflation and global slowdown remain challenging for India, we are positive on the domestic economy as the overall macro situation is superior to other markets from a long-term perspective.
IndiaFirst Life Insurance gets SEBI approval to float IPO
IndiaFirst Life Insurance Company recorded its highest five-year growth in terms of New Business Individual Rated Premium (IRP) amongst life insurers with PSU bank percentage, with a CAGR of 27.3% between fiscal 2017 to fiscal 2022.
Does your insurance company have money to pay claims easily? Find out here
Solvency ratio of insurance companies: We buy insurance policies to financially secure the future of our loved ones in the time of unexpected and untimely events such as loss of life, loss of property, etc. Therefore, as a policyholder, it is important for you to know about the company’s overall financial health and capability to pay the claims. The solvency ratio is one of the key determinants that suggests whether an insurer can stay solvent in the long run or not. Let’s understand what it is and how it works.
IRDAI approves changes in capital, ownership, solvency of insurance companies
The Insurance Regulatory and Development Authority of India (IRDAI) has also approved a proposal to permit Private Equity (PE) funds to invest directly in insurance companies and at its board meeting today allowed subsidiary companies to be promoters of insurance companies.
BoB-backed IndiaFirst Life Insurance files DRHP with Sebi for IPO
The public issue consists of a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of up to 141,299,422 equity shares by promoter and selling shareholders, as per the draft red herring prospectus (DRHP).
IndiaFirst Life Insurance may file DRHP for Rs 2,000-cr IPO by October- end
The IPO is likely to include both issuance of fresh equity shares and an offer from sale (OFS) from promoters and existing shareholders of the company
ETMarkets Smart Talk: Poonam Tandon on top 6 sectors which could produce next set of multibaggers
"We see market performance to be more stock specific and companies exposed to the domestic economy with healthy cash generation and leaner balance sheets should do well. We continue to remain positive on the banking sector – the sector has seen improvement in its asset quality resulting in a decline in overall credit cost."
Change in NPS pension rules proposed by PFRDA: How subscribers could gain
NPS subscribers: The PFRDA has held discussions with the IRDAI to allow NPS pensioners to port their annuity plans. All you need to know about the proposed NPS pension rules
Tax benefit on insurance for disabled
Earlier, the premium paid on insurance policies bought by parents of differently abled children or dependants qualified for deduction under Section 80DD only if the annuity or lump sum was paid to the disabled child on the death of the policyholder.
Insurers to up term policy rates for the second time in FY 2022
Top private life insurers are revising term insurance rates by the fourth quarter. According to industry officials, reinsurers have taken a tough stance with the new Omicron variant adding to the uncertainty.
IndiaFirst Life Insurance FY21 results: Firm back in the black, posts Rs 30 cr profit
The private sector insurer, promoted by Bank of Baroda, Union Bank of India and Warburg Pincus, paid Rs 388 crore in overall claims during the year, up by nearly 35 per cent from a year ago's Rs 253 crore, she said.
IndiaFirst Life considers premium hike amid rising claims ratio
IndiaFirst Life has one of the most competitive term insurance plans in the market in the last few years, IndiaFirst Life MD & CEO R M Vishakha claimed.
IndiaFirst Life's Deputy CEO shares his bucket-list, says real learning happens out in the wilderness of the world
Rushabh Gandhi wants to discover New Zealand with his family.
Term cover costs set to go up as reinsurers hike life rates
According to insurance distributors, some companies have indicated that rates will go up from April 2021, when the new reinsurance contracts come into force. The companies that are understood to be revising their rates include Max Life Insurance, Tata AIA Life Insurance, IndiaFirst Life and Aegon Life.
Pandemic to change Indian insurance sector's landscape: IndiaFirst Life
"The pandemic will change the landscape of the insurance industry. The cost base of insurance companies will go down. It will go down because will only incur the expenses which are critical and expenses which are 'luxurious' will reduce extensively," the IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) deputy CEO said.
Insurance industry seeks central repository for data sharing
"One of the important fallouts of the pandemic is the ability to share the data. If you have to say one thing that we definitely need is a centralised repository. We need a lot more data sharing," IndiaFirst Life Insurance managing director and CEO R M Vishakha said during a virtual panel discussion organised by ETBFSI.com.
This BFSI boss says loss of social connect inevitable in permanent WFH, managers must prepare themselves
Vishakha RM feels lines get blurred during WFH.
Union Bank plans to lower stake in IndiaFirst Life to less than 10%
As per IRDA guidelines, one promoter cannot hold more than 10 per cent stake in two insurance ventures.
IndiaFirst CEO is a fan of her own company, says there's never a dull moment when she travels alone
RM Vishakha says her trip to Niagara Falls was a memorable one.
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