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  • LIC profit jumps 10.4% in FY15, pays Rs 1,804.4 cr to govt | The Financial Express
    2014 15 is 10 39 per cent more than the previous year For the stock markets it can be noted that 2014 15 was good with the Sensex logging in best gains since 2009 10 a hefty 25 per cent of over 2013 14 driven by surge in foreign inflows after the Narendra Modi led government took charge The year also saw the index hitting its life time high of 30 024 mid March During the fiscal 2015 the Sensex had gone up by 5 571 22 points or 24 88 per cent to 27 957 49 from 22 386 27 on March 31 2014 The gauge had touched all time high of 30 024 74 on March 4 On similar lines the Nifty zoomed by 1 786 80 points or 26 65 per cent to settle the fiscal at 8 491 after scaling lifetime high of 9 119 20 on March 4 The chairman presented a cheque of Rs 1 804 35 crore to finance minister Arun Jaitley in New Delhi yesterday the Corporation said in a statement today This is the government s share of the surplus arising from the actuarial valuation as of March 31 2015 the statement added The Corporation is the single largest investor in the market with trillions of rupees invested in many blue chips and even in mid caps That apart LIC is the proxy investor for the government too in many of the state run banks wherein its holding is over 15 per cent while it holds 25 per cent in corporation bank While LIC is the single largest domestic institutional investor it also is the largest player in the government securities market investing more than Rs 2 5 trillion annually while its incremental annual stock market investment is under Rs 60 000 crore First Published on January 5 2016 7 58 pm Tags Life Insurance Corporation Please Wait while comments are loading More on this story Private players pip LIC in FY16 APE growth More foreign MFs on way out as Nomura plans to exit LIC Govt may wait for markets to stabilise to divest further Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2

    Original URL path: http://www.financialexpress.com/article/industry/insurance/lic-profit-jumps-10-4-in-fy15-pays-rs-1804-4-cr-to-govt/188658/ (2016-02-08)
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  • Telangana starts recognition of e-Motor Insurance policies | The Financial Express
    on it said The e motor insurance policy would be issued in a digital format which can be seen in any smartphone A Quick Response Code would also be issued that can be scanned for verification of policy details it added Telangana is the first state in the country to formally recognize electronic motor insurance policies This measure is likely to add to the citizens convenience and also improve the compliance levels of motor insurance the statement said First Published on January 2 2016 8 28 pm Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan

    Original URL path: http://www.financialexpress.com/article/industry/insurance/telangana-starts-recognition-of-e-motor-insurance-policies/186982/ (2016-02-08)
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  • FDI cap hike sees inflow in JVs; $1billion likely in 2016 | The Financial Express
    Insurance Group and Fairfax Financial Holdings of Canada are expected to raise stakes in their ventures Mitsui Sumitomo Insurance Company Ltd of Japan also proposed to increase stake to 40 per cent from 26 per cent in Cholamandalam MS General Insurance Company Ltd for consideration of about Rs 883 crore As many as 10 insurance companies have applied for regulatory clearances to bring in foreign investment of Rs 6 192 crore They have applied to insurance regulator IRDAI and Foreign Investment Promotion Board FIPB According to Insurance Regulatory and Development Authority of India the total FDI in insurance sector as on March 31 2015 was about Rs 8 031 crore As per an estimate increase in foreign investment cap in the insurance sector to 49 per cent will eventually result in capital inflow of USD 6 8 billion up to Rs 50 000 crore There are 52 insurance companies operating in India of which 24 are in the life insurance business and 28 in general insurance State owned GIC in addition is the sole national reinsurer In order to deepen the re insurance market IRDAI permitted UK based Lloyds to set up business in India Lloyds India will ensure that the market and the constituents are housed in one location for the conduct of reinsurance business Among other developments was on distribution front as corporate agents were given option of tying up with multiple insurers in each line of business This may possibly change the third party distribution landscape in the industry New formats of distribution such as Insurance Marketing Firms may provide new business models Max Life Insurance Managing Director Rajesh Sud said According to Tapan Singhel Managing Director Bajaj Allianz General Insurance the Pradhan Mantri Suraksha Bima Yojana PMSBY and Pradhan Mantri Jeevan Jyoti Bima Yojana PMJJBY initiatives launched this year by the Prime Minister Narendra Modi are great examples of how simplicity of a product a robust distribution network and use of mobile technology can transform the entire industry This was a great step forward for an industry that is known to be complicated and highly jargonised since the initiative showed how we can reach millions of customers when the products and process are simplified Singhel said Thus in 2016 one can expect to see simplification and transparency in product design with an emphasis on responsiveness relating to customer mindfulness and customer engagement Focus on sales practices adequate disclosures seller accountability grievance management and claims settlement are likely to occupy the industry s attention as well in the coming year Sud said Regulation related to no rejection of death claims after three years will require the life insurers to increase underwriting efforts at the time of policy issuance he said First Published on December 30 2015 1 43 pm Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at

    Original URL path: http://www.financialexpress.com/article/industry/insurance/fdi-cap-hike-sees-inflow-in-jvs-1billion-likely-in-2016/185485/ (2016-02-08)
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  • IRDAI extends deadline for micro insurance products till March 31 | The Financial Express
    micro insurance products adequately in the interest of the segment of low income group the Authority extends the date for continuance of existing MI micro insurance products till March 31 2016 it added As per these 2015 regulations there is a provision for flexible premium payout option and non selling of MI products under unit linked platform among others First Published on December 30 2015 9 54 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How

    Original URL path: http://www.financialexpress.com/article/industry/insurance/irdai-extends-deadline-for-micro-insurance-products-till-march-31/185432/ (2016-02-08)
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  • FDI worth Rs 6,192 cr in insurance cos awaits clearance: Govt | The Financial Express
    of State for Finance Jayant Sinha said in a written reply in the Rajya Sabha According to Insurance Regulatory and Development Authority of India IRDAI the total FDI in insurance sector as on March 31 2015 was about Rs 8 031 crore First Published on December 22 2015 5 33 pm Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How Zika virus infection can spread From mosquito bites to urine transmission top 5 points to note International

    Original URL path: http://www.financialexpress.com/article/industry/insurance/fdi-worth-rs-6192-cr-in-insurance-cos-awaits-clearance-govt/182685/ (2016-02-08)
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  • Chennai floods: Insurers look at Rs 200 cr claims for 8 private jets | The Financial Express
    of months to settle those claims Though we have not received any claims from the aviation sector due to the recent Tamil Nadu floods what I hear from the industry is that claims are likely to come from the owners of eight corporate jets that got partly damaged According to preliminary reports the claim may cross Rs 200 crore New India chairman and managing director G Srinivasan told PTI But let me make it clear that normally insurers provide cover for damage of aircraft or third party liabilities only and they don t provide any cover for revenue loss incurred due to grounding of planes said Srinivasan who is also the chairman of General Insurance Public Sector Association We have received claims worth Rs 80 crore for five aircraft which have got damaged due to the Chennai floods All the damaged aircraft are chartered ones and are owned by groups like Kalyan Jewellers TVS and Garuda Oriental Insurance deputy general manager in Chennai Ajit Kumar said Besides two aircraft owned by Jet Airways have also got partly damaged due to the floods as water entered the godown where they had been parked he said adding that two more aircraft of Jet have got partly damaged but they have already resumed their flight after repair United India has received claims for the three private planes owned by TVS 2 and SUN TV 1 However we are yet to ascertain the damages incurred on those planes United India general manager T L Alamelu said Surveyors have been deputed to look into it and they are likely to submit their report before us within a week from now she said As we have provided insurance cover to hull and machineries of the aircraft only we are concerned to settle claims under these segments only and we are not bothered about the revenue loss which these companies may have incurred due to their floods she added First Published on December 13 2015 12 46 pm Tags Chennai Floods Please Wait while comments are loading More on this story Jayalalithaa seeks Rs 2 000 cr more for flood relief FM Arun Jaitley calls for need to bring large population under insurance cover Chennai floods the aftermath Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol

    Original URL path: http://www.financialexpress.com/article/industry/insurance/chennai-floods-insurers-look-at-rs-200-cr-claims-for-8-private-jets/178059/ (2016-02-08)
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  • Tamil Nadu floods: General insurers receive claims of over Rs 2,500 cr | The Financial Express
    free numbers helplines and call centres to assist policyholders in submitting their claims Insurance companies are taking all steps to assess process and settle the claims of policyholders expeditiously as they have done in previous disasters like Jammu Kashmir floods and the Hudhud cyclone Srinivasan said The maximum number of claims has been received by Chennai based United India which has received over 1 800 claims We have received 1 852 claims valued at Rs 657 crore and we have already settled over 70 claims as of now United India chairman and managing director Milind Kharat said The company has opened 8 centres in Chennai and one in Puducherry to settle claims Mostly claims are coming under segments like motor and property he added State owned Oriental Insurance Company has received 600 claims valued at Rs 150 crore The company has received 600 claims valued at Rs 150 crore as on date Oriental Insurance Deputy General Manager in Chennai Ajit Kumar said We have given waiver of certain documents and we are telling the policyholders that intimation given by them is sufficient he said adding that the claim settlement process will start from Monday Tata AIG General Insurance has received 382 claims Also the company has opened three dedicated centres in Chennai alone to provide assistance to its policyholders Tata AIG has received 382 claims from the Tamil Nadu floods as of December 2 It includes 130 claims which had been received by the company from the first spell Gross claim estimate may climb to Rs 50 crore which includes the prior claim amount of Rs 32 crore from the first spell of rains its president M Ravichandran said First Published on December 9 2015 11 39 pm Tags Chennai Floods Tamil Nadu Please Wait while comments are loading More on this story Tamil Nadu to get road projects worth Rs 7 000 crore Nitin Gadkari Supreme Court refuses to vacate stay on Jallikattu Orchid Pharma receives EIR from US FDA Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster

    Original URL path: http://www.financialexpress.com/article/industry/insurance/tamil-nadu-floods-general-insurers-receive-claims-of-over-rs-2500-cr/176763/ (2016-02-08)
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  • Irdai to launch portal for health insurance plans information | The Financial Express
    from all those hospitals In fact the registry of hospitals under Rohini is the final step in monitoring health insurance claims from various hospitals under the network to study the pattern of claims cost of claims and cost of treatment This is a good initiative for creating a unique identity for health providers in the country so as to understand each provider s unique need separately ICICI Lombard chief underwriting claims and reinsurance Sanjay Datta said It will help insurers understand various aspects of healthcare and various types of healthcare and treatment facility being provided by the 3 000 hospitals that fall under ICICI Lombard s network he added First Published on December 6 2015 3 56 pm Tags Irdai Please Wait while comments are loading More on this story IRDAI floats draft norms for providing loans to employee Irdai calls for price corrections to help general insurers Agents of change Perks up Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s

    Original URL path: http://www.financialexpress.com/article/industry/insurance/irdai-to-launch-portal-for-health-insurance-plans-information/175248/ (2016-02-08)
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