INDIAFIRST LIFE INSURANCE DRHP
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.
With DRHP, Hyundai steers towards $3 billion public listing
India's largest public issue will be an offer-for-sale (OFS) of up to 142.2 million shares, or a 17.5% stake, by South Korean parent Hyundai Motor Co.
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.
Ecos Mobility & Hospitality files DRHP to raise funds via IPO
The promoters of the company are Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust and Aditya Loomba Family Trust.
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.
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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.
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.
State-owned NBFC IREDA files DRHP with Sebi for IPO
It is the first IPO by a public sector enterprise after Life Insurance Corporation's public issue in May last year
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.
ESAF Small Finance Bank refiles draft papers with Sebi for Rs 629 cr IPO
The company, in consultation with the lead bankers to the issue, may consider a further issue of equity shares by a private placement or any other method up to Rs 97.33 crore. If such placement is completed, the fresh issue size will be reduced.
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.
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."
HC refuses to grant relief to policyholders on LIC DRHP stay
The division bench of Justice Gautam Patel and Justice MJ Jamdar, however, clarified that any public issue that LIC proceeds with will be subject to the court’s final ruling. The court will hear the matter further on June 21.
Life insurers' claim settlements stable despite Covid
Indian life insurers' claim settlement ratios have remained mostly stable during the Covid-19 period compared with earlier years despite an uptick in claims as the regulator pushed for easier settlements amid a once-in-a-century pandemic.
LIC's dominance in India makes it a global behemoth
Purely in terms of AUM, LIC s also the largest asset manager in India as of September 30, 2021, with an AUM of ₹39 lakh crore which includes, policyholders' investment, shareholders' investment and assets held to cover linked liabilities.
LIC DRHP: Equity investments valued at Rs 9.78 lakh cr, double since March 2020
Over 90 per cent of LIC's policyholders’ equity investments are a part of the Nifty200 and BSE200 indices as of September 30, 2021, the life insurer said in its draft red herring prospectus (DRHP) filed with Sebi on Sunday.
What does LIC DRHP say about IDBI Bank?
LIC infused Rs 4,743 crore into IDBI Bank using policyholders’ funds. IDBI Bank raised Rs 14,351.80 million on December 19, 2020 by way of a qualified institutional placement and since March 10, 2021, the bank has come out of the prompt corrective action framework, subject to compliance with certain conditions and continuous monitoring.
LIC DRHP reveals the size of life insurer's unlisted equity portfolio
Overall, LIC held a total of Rs 9,78,493.81 crore worth equity investments as of September 30, representing 24.78 per cent of the total Rs 39,49,516.37 crore worth of investments.
TVS Supply Chain files DRHP with Sebi for IPO
The company’s existing shareholders, including founder TVS Mobility Pvt. and investors Gateway Partners and Tata Capital Financial Services Ltd., plan to sell as many as 59.48 million shares in the IPO, according to a draft prospectus.
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