IRDA NEWS

GST rates revised; Here is a list of items that'll get costlier

Consumers may now have to shell out more as several goods and services will cost higher from July 18 onwards with the Goods and Services Tax (GST) Council approving rate hike to address inverted duty structures and withdrawing some exemptions.

Shriram Group receives RBI nod for merger of financial services business

In a note to the exchanges late on Wednesday, Shriram said RBI issued its No Objection to the scheme of amalgamation through a letter dated June 15. In December last year, the boards of various group companies met to approve the merger of SCL and SCUF with STFC.

IRDAI allows insurance companies to introduce products without prior approval

The new rule will cover all health plans and also fire, engineering and motor plans offered by general insurance companies. Panda said only a small minority of plans below Rs 5 crore sum insured are exempt from the new reform because of some operational purposes.

Six factors that can make ICICI Lombard stock a consistent compounder

ICICI Lombard and Bajaj Allianz are 2 of the most efficient players accounting for almost half of the industry profits of the last 10 years and almost the entirety of the industry’s profits in the last 5 years. All the above point to a potential compounder franchise.

Buy SBI Life Insurance Company, target price Rs 1,430: JM Financial

The brokerage expects a 20% EV CAGR over FY22-24E driven by NBV CAGR of 22% on the back of improving margins to ~27.5% levels into FY24E. It maintains BUY with target price of Rs 1,430, valuing the insurer at 2.5x FY24 EV.

IRDA increases investment limit in BFSI sector

Commenting on the circular, Kapil Mehta, co-founder, SecureNow, said the IRDAI's decision is a very good development because it gives insurers the flexibility to invest into different assets and improve their returns over the long term. "And since the restriction of 30 per cent in itself is not high, the overall safety of the insurer is not compromised," he said.

Small entrepenuers can now tap insurance companies for sureties

"To reduce indirect cost for suppliers and work-contractors, the use of surety bonds as a substitute for bank guarantee will be made acceptable in government procurements. Business such as gold imports may also find this useful. IRDAI has given the framework for issue of surety bonds by insurance companies," finance minister Nirmala Sitharaman said in her budget speech.

What do AIFs want in this Budget? Vivriti Asset Management’s CEO lists three key points

Ahead of the presentation of the Budget, Vineet Sukumar lists out a few key ways in which the government could facilitate greater investment from AIFs and in particular enable more access to capital markets for small industries

7 important budget expectations for the mutual fund industry

Jimmy Patel, MD & CEO, Quantum Mutual Fund, shares his expectations from the upcoming Union Budget, 2022.

Paytm loan to help fund Vijay Shekhar Sharma’s Raheja QBE deal

An early closure of the Paytm-Raheja QBE deal, which was announced nearly a year ago, is crucial for the Paytm IPO slated for November this year.

Irda asks Indiabulls to bring in Rs 1,200 crore investments for life insurance licence

Regulator’s board to meet today and may clear Indiabulls Life Insurance’s R1 licence.

Irda nod to LIC-IDBI deal based on merit, says official

According to Sathe, LIC is free to chart its investment strategy which is not influenced by the insurance regulator.

Empirical tests should decide health cover: HC

The case will have an impact on all kinds of insurance, and on everyone who buys insurance.

ETMarkets Morning Podcast: Your daily digest of market news

Tune in now! Here's what's buzzing on Dalal Street this morning.

HDFC Life, Max Life still keen on finding a structure acceptable to IRDA: Deepak Parekh, Chairman, HDFC

"We have extremely warm, friendly relationships with the Max team. Both of us are still keen if we can find a structure that is acceptable to the IRDA, to our regulators, " said Parekh.

HDFC Life may go for IPO for merger with Max Life: Nidhesh Jain of Investec

"Both the management teams are committed towards merger and this merger is definitely important for both these entities as the combined entity will be much stronger than individual entity," Jain said.

Caveat will be on mutual fund sector rather than the realty sector: Saurabh Chawla, DLF

Saurabh Chawla, ED, DLF, says you must allow low risk capital or capital which has high appetite for low risk to enter into this particular space.

'Can't clear HDFC-Max deal in present form'

'Can't clear HDFC-Max deal in present form'

HDFC-Max deal faces IRDA hurdle: Santosh Singh's view

There are plenty of risks hidden in payment banks: Dhirendra Kumar, CEO of Value Research

Payment banks will be a limited kind of bank which can take deposits, issue cheque books, but are limited to taking no more than Rs 1 lakh from each customer.

Banks & Insurers may have to rethink tie-ups after IRDA cracks down on mis-selling

Bancassurance, the sale of insurance products through banks, which is the most preferred route for growth of the sector, may be at risk.

Third-party auto premium may rise up to 30%

The increase in rates means that buyers may need to pay Rs 822 more for big cars and Rs 266 more for midsize ones. Renewal rates will also rise.