INDIAFIRST LIFE INSURANCE MD & CEO R M VISHAKHA
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.
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) have approved the Scheme of Amalgamation (Scheme) to create a large unified operating NBFC. The merger will result in a reduction of legal entities and simplification of the group structure of Aditya Birla Capital. It will also comply with the Scale based Regulations of RBI, which require mandatory listing of Aditya Birla Finance by September 30, 2025.
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.
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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.
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.
Want to know how much life insurance cover you should have? Here are two ways to calculate
The first step of a financial plan is to make sure that your insurance needs are covered.
IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown
The Bank of Baroda and Andhra Bank owned life insurers also said that the all policies issued by the company stands valid even on event of death due to Covid-19 virus. The company has also made all servicing and distribution channels digital as well, it said in a press release.
New tax regime: Life, health insurance may lose lure as tax sops turn optional
Stocks on insurance companies fell following the budget announcement. Insurers say insurance was always a push product and now with the key incentive “tax” being removed not many might think of financial protection and fiscal prudence.
Irdai proposes changes to policy revival norms; hikes surrender benefits
It has proposed a minimum death benefit of seven times for regular premium products and 1.25 times for single premium products for all ages.
Warburg Pincus buys Legal & General’s 26% stake in IndiaFirst Life for Rs 710 cr
Launched in 2010, Mumbai-headquartered IndiaFirst Life Insurance is one of country’s youngest life insurance companies.
UK’s Legal & General may sell IndiaFirst Life stake
Launched in 2010, IndiaFirst Life is a joint venture between Legal & General and BoB and Andhra Bank
Life insurers’ premium from new business up 6%
The first-year premium, or premium earned by selling new policies by the private sector, rose 12%.
IndiaFirst Life Insurance FY17 profit at Rs 35 cr
The company witnessed a new retail premium collection growth of 82 per cent.
Wrong timing, lack of drive turn PSU banks' insurance dream into a nightmare
PSU banks jumped onto the insurance bandwagon hoping to replicate the success of their private peers. But most of them have miserably failed to crack the code.
Group single premia boost life insurers' income by 26% in FY17
Companies have been coming out with innovative and feature-rich products in the protection and health segment to address the needs of customers.
Why adequate insurance cover for women is important
According to financial advisers, women who contribute to the family’s finances significantly should opt for a term insurance plan.
IndiaFirst eyes to collect Rs 2000 crore premium by March end
The company, promoted by Bank of Baroda, Andhra Bank and UK-based Legal & General, is targeting to cross the premium of Rs 350 crore in individual premium by the fiscal-end.
Insurance queries answered by RM Vishakha, IndiaFirst Life Insurance
Every week, an expert selected by ET answers queries from our readers on insurance.
Irda bans life insurers from offering indemnity-based health products
Irda has asked insurance companies to withdraw products by giving three months' notice to policyholders and to continue existing contracts till the end of policy term.
IndiaFirst Life ties up with IFMR rural channels
IFMR will be distributing IndiaFirst Simple Benefit Plan, a non-linked individual participating endowment Plan, from IndiaFirst Life Insurance.
IndiaFirst Life eyeing 30 per cent growth in retail business
The target is lower than 38 per cent growth achieved by the 3-way joint venture between Bank of Baroda, Andhra Bank and UK's Legal and General.
IndiaFirst appoints Satishwar Balakrishnan as CFO
Satishwar Balakrishnan is a founding member of IndiaFirst Life Insurance and has contributed across various functions within the organisation.
IndiaFirst Life Insurance launches Guaranteed Retirement Plan
A non-linked, participating, deferred pension plan with a guaranteed return of 9 per cent on premiums paid has been launched by IndiaFirst Life Insurance.
Promoters invest Rs 150 crore into IndiaFirst Life Insurance
Bank of Baroda, Andhra Bank and Legal & General invested Rs 150 crore into IndiaFirst Life Insurance.
Awareness among investors will help the insurance market: RM Vishakha, IndiaFirst Life Insurance
Customer awareness and technological initiatives hold the key for growth in the insurance sector, says R.M. Vishakha.
R M Vishakha first woman head of IndiaFirst Life
IndiaFirst, the youngest life insurer in the country, is a joint venture of Bank of Baroda, Andhra Bank and Legal & General of Britain.
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