Top Indian Insurance Industry News & Updates - 07 Nov 2023,Tuesday

🏭 Industry

India’s insurance regulator mulls freeing up pricing, forms taskforce for road ahead
The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a task force to suggest solutions and guidelines, once general insurers are given freedom to price products such as third party (TP) cover in motor insurance whose tariffs are now pre-determined.
📝  Star Health ties up with Finequs
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🗎 Health Insurance

Bad air quality may breathe fresh life into health insurance business
The health insurance segment has registered a strong growth after the pandemic due to higher awareness.
 
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🏦 SEBI

📝  Sebi exploring non-disruptive approach to instant equity trade settlement
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🗎 Pension Funds/PF

NPS assets soar 25% to ₹10.23-lakh crore as of October 28, reveals PFRDA data
Aided by a strong show by the non-government sector, the National Pension System’s (NPS) assets under management (AUM), including the corpus on the Atal Pension Yojana (APY), grew 25 per cent y-o-y to touch ₹10.23 lakh crore as of October 28, official PFRDA data showed. On October 29, last year, the NPS assets under management stood at ₹8.17 lakh crore.
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🗎 Mutual Funds / AMCs

Investors must understand there are no guaranteed returns in any mutual fund schemes: Harshvardhan Roongta
Harshvardhan Roongta of Roongta Securities, says “whatever happened in the past, if there is a 12.93% illustrative return, it does not mean that that is going to happen in the future as well but just that it will be an indicative assumption for an investor to understand how the power of compounding will work. ”
Mirae Asset Mutual Fund changes names of 7 schemes

Mirae Asset Mutual Fund has changed the names of seven schemes. Names of four debt schemes and three equity schemes will change from December 15. The fund house informed the changes to the investors through a notice-cum-addendum dated November 2.
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🗎 Equities, Pvt. Equity / Hedge Funds

Indian equities surge on positive global cues
 
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🗎 Govt Securities / Bonds

India bond yields fall tracking US peers; seen rangebound
Indian government bond yields fell on Monday tracking U.S. Treasury yields after job growth in the world's largest economy slowed more than expected in October, reinforcing expectations that the Federal Reserve will not raise rates further.
Adani Capital raises Rs 100 crore via three-year debentures at 9.65%

Unlisted Adani Capital last week raised 100 crore through the issuance of non-convertible debentures with a coupon rate of 9.65% and a three-year tenor set to mature on November 6, 2026.
Expected downward shift in yield curve warrants higher allocation towards bonds: Motilal Oswal Private Wealth

The inclusion of India into the JPMorgan Global bond index and expectations of rate cuts from the first half of FY25 is set to put a cap on bond yields in the domestic market over the medium term.
Bonds look much more attractive than stocks: Sonal Desai

Sonal Desai, chief investment officer, Franklin Templeton Fixed Income Group, said the US Federal Reserve wants interest rate increases to be done but is in no position to cut rates on account of inflation. In an interview with Nishanth Vasudevan on the sidelines of the firm's conference in Hong Kong last week, Desai, who oversees $124 billion in global fixed income assets, spoke on her outlook for Indian bonds among other topics.

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