LIC exploring possibility of setting up fintech arm: Chairman
As part of its digital transformation exercise, insurance behemoth Life Insurance Corporation (LIC) is exploring the possibility of setting up a fintech unit. LIC has initiated a total digital transformation project DIVE (Digital Innovation and Value Enhancement) and appointed a consultant to steer the project, LIC Chairman Siddhartha Mohanty told PTI in an interview.

LIC celebrates constitution day on Sunday
Mumbai: LIC celebrated Constitution Day-Samvidhan Divas on Sunday. In the spirit of celebration, Siddhartha Mohanty, Chairperson, LIC of India administered the pledge of Preamble to all employees of the Corporation through virtual mode. Employees from all the offices of the Corporation joined for taking the pledge. We at LIC of India, celebrate the spirit and values of freedom and democracy enshrined in our Constitution.

LIC considering creating fintech arm for business expansion: Chairman
As part of its digital transformation exercise, insurance behemoth Life Insurance Corporation (LIC) is exploring the possibility of setting up a fintech unit.

5 myths and facts about travel insurance that everyone needs to know
Travel insurance is like a safety net, offering invaluable peace of mind when exploring the diverse landscapes of our world. However, many travellers believe they don't need travel insurance, but not having coverage can leave you vulnerable if an emergency arises during your trip.

Private general insurers expand market share to 53.58 per cent in H1'FY24
Private general insurers increased their combined market share to 53.58 per cent in gross direct premium underwritten in the first half of the current financial year from 50.81 per cent in the year-ago period. As many as 31 insurers from the non-life industry had underwritten gross direct premiums of Rs 1.43 lakh crore in the first half of the current financial year, according to data on segment-wise gross direct premiums up to September 2023 released by Insurance Regulatory and Development Authority of India (Irdai).

Universal Sompo General Insurance records 47% growth in TN under PMSBY scheme
Chennai: Universal Sompo General Insurance, a partner of the Centre's Pradhan Mantri Suraksha Bima Yojana, insured 21 lakh people in Tamil Nadu in the first six months of the current financial year under the scheme, the company said on Sunday.

Insurance should not be misused for unfair gains
Aryan Exports was engaged in the export of handmade carpets and rugs. It received an order from Atlanta Rugs in America for the supply of handmade carpets. It entrusted various consignments of carpets on different dates to Niranjan Shipping Agency. The total value of the goods was $41,157.41. The goods were insured under a Marine Policy issued on May 6, 1994, by Oriental Insurance. The policy covered risk from “warehouse to warehouse” or “godown to godown”.  

Kedaara Capital supports Care Health Insurance
Kedaara Capital Advisors has thrown its weight behind the management and board of Care Health Insurance, a subsidiary of Religare Enterprises (REL), which is chaired by Rashmi Saluja. The PE firm is the one of the largest investors in Care Health Insurance, formerly Religare Health Insurance Co.

Sebi to introduce regulatory framework for index providers
Markets watchdog Sebi on Saturday approved a slew of proposals, including providing flexibility to Not for Profit Organisations (NPOs) in raising funds through the social stock exchange and also decided to introduce a regulatory framework for index providers. Besides, the regulator will put in place a new regulatory framework for facilitating Small and Medium Real Estate Investment Trusts (SM REITS) apart from amending norms to strengthen the protection of investors who have pumped in money into Alternative Investment Funds (AIFs).

We will look into it if disclosures on IPO valuation are meaningless, says Sebi chief
Amid concerns in some quarters over the exorbitant valuation of certain initial public offerings, Sebi Chairperson Madhabi Puri Buch has said the regulator would certainly look into the matter if disclosures on the valuation are meaningless.

Sebi nod for small, medium REITs to boost investments and liquidity

The Securities and Exchange Board of India (Sebi) decision to create a regulatory framework for the facilitation of small and medium real estate investment trusts (SM REITs) is expected to boost participation of retail investors, institutionalise the segment, and encourage greater capital influx from both domestic and offshore investors.

‘We hope to capitalise on first mover advantage in mid corporate lending’
Vivriti Asset Management closed three credit funds with commitments of a total $ 200 million recently. It has also launched $250 million asset back securitisation fund early this year. Vineet Sukumar, founder and managing director tells Raghavendra Kamath, about the company’s strategy, going forward. Excerpts:

Sebi tweaks rules, asks AIFs to dematerialise units
To facilitate ease of compliance and strengthen investor protection in Alternative Investment Funds (AIFs), Sebi on Saturday said all the fresh investments made by an AIF after September 2024 should be held in demat form. Approving amendment to AIF rules, Sebi said that some exceptions have been provided.

‘We are bullish on Indian equities but expect volatility to increase’
Mumbai : Asset allocation in equities should reflect the changes in market conditions. Unfortunately, a lot of investors have misinterpreted this as selling when the market goes up and buying when the market goes down," says Nimesh Chandan, chief investment officer, Bajaj Finserv Mutual Fund. The asset management firm was in the news recently for launching a balanced advantage fund (BAF), a type of hybrid mutual fund that invests in a mix of equity and debt securities. The Bajaj Finserv Balanced Advantage Fund is an all-seasons product, which suits a large population of investors, Chandan tells Mint. Edited excerpts from an interview:

hBits Asset to raise ₹500 crore under AIF
hBits Asset Management, a wholly-owned subsidiary of fractional ownership platform for commercial real estate hBits, is planning to raise ₹500 crore under its AIF (alternate investment fund) by March 2025, a top company official said.

Invesco under Sebi lens for alleged violation of rules

Mumbai: The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to the local unit of Invesco, a US-based asset manager, for possible violations of mutual fund rules that potentially risked investor money, people familiar with the development told ET. Invesco is reportedly found to have shuffled securities between schemes in alleged violation of rules.

FPIs reverse selling trend ; invest Rs 378 crore in equities in Nov
Foreign Portfolio Investors (FPIs) have pared their bearish stance on Indian equities during November as they made a net investment of Rs 378 crore on the sharp decline in US treasury bond yields. This came after FPIs dumped Indian equities worth Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed.