Aon Plc acquires Global Insurance Brokers
New Delhi: Global Insurance Brokers (Global), a provider of risk management, insurance, and reinsurance broking services in the Indian subcontinent has announced its acquisition by professional services firm Aon plc. The arrangement is subject to regulatory approval. Aon and Global Insurance Brokers will continue to operate independently until then.
 

IRDAI Member Says Insurance Sector Needs To Reorient Itself
Mumbai: While the domestic economy is growing well, the insurance sector has been unable to keep pace with it unlike the banking sector, BC Patnaik member life Insurance Regulatory and Development Authority of India (IRDAI) said on Tuesday.

BIMTECH's Insurance India report urges governments to climate-proof finances
Birla Institute of Management Technology (BIMTECH) on its 36th foundation day on October 02, released the Insurance India Report - Series II which highlighted the need for developing insurance markets for climate risk financing. In the chapter on this issue, authored by Arup Chatterjee, Principal Financial Sector Specialist, Finance Sector Office, Asian Development Bank, emphasised that Governments must climate-proof their public finances to avoid an ever-worsening spiral of climate vulnerability and unsustainable debt burdens. 

GIC Re appoints Ramaswamy Narayanan as CMD

Narayanan joined GIC Re has a direct recruit officer in 1988 and has since managed a spectrum of non-life insurance classes, including Fire, Engineering, Miscellaneous, Motor, Liability, Aviation, Marine, and Agriculture. Previously, he has also headed GIC Re’s UK branch, wherein he played a key role in the establishment of the Lloyds syndicate of GIC (GIC 1947).

Bajaj General Insurance gets R 1,010 crore GST notice
 

Bank's liability for locker content is limited, so buy insurance coverage
If you plan to keep cash in your bank locker, think again. A woman residing in Moradabad, Uttar Pradesh, had kept Rs 18 lakh for her daughter’s wedding in a bank locker. She discovered termites had eaten up the cash. Are banks liable to offer compensation in the case of such a loss?

India’s ageing population is crying for a new health insurance model
A new UN report’s forecast of a rapid spike in India’s ageing population by 2050 calls for robust regulation to help this vulnerable group manage and finance healthcare better. The country had about 149 million people aged 60 years and above as of 1 July 2022, translating to 10.5% of the population. The share will double to 20.8%, with the absolute number at 347 million by 2050, according to the India Ageing Report 2023.

Sebi constitutes working groups to simplify regulations
Securities and Exchange Board of India (Sebi) has put together working groups in order to simplify regulations, ease and reduce the cost of compliance.

Investment advisors can charge fees only for advisory, not PMS: Sebi
Securities And Exchange Board of India (Sebi) Chairperson, Madhabi Puri Buch, made a strong case for differentiating between investing advisory and money management. In her address at the Association of Registered Investment Advisers (ARIA) conference she said that 35% of the investment advisers (IAs) are unregistered in India.

Sebi forms panel for easing rules
Mumbai: The Securities and Exchange Board of India(Sebi) on Wednesday said it has set up working groups to suggest ways to simplify various rules and ease the compliance process and cost reduction.

Sebi sets up panels to ease compliance process
Mumbai: Markets regulator Sebi has formed 16 groups to suggest ways to simplify the compliance process by regulated entities which will help in reducing costs.
 

PF interest news: Centre maintains GPF interest at 7.1% for October-December quarter
PF interest news: The Ministry of Finance has decided to keep the General Provident Fund (GPF) interest rate unchanged at 7.1 percent for the October-December quarter of the fiscal year 2023-2024. This rate has remained consistent for the past few quarters.

Kotak Multi Asset Allocation Fund NFO collects over Rs 3,600 crore
The new fund offer or NFO of Kotak Multi Asset Allocation Fund has collected over Rs 3,600 crore. The fund has registered the highest ever collection made by Kotak Mahindra Asset Management Company in an NFO, with over 1 lakh applications.

Mirae Asset Mutual Fund approves fresh SIPs of up to ₹25000 per PAN every month. Details here
Starting from October 10, 2023, Mirae Asset Emerging Bluechip Fund will allow Systematic Investment Plans (SIPs) of up to ₹25,000 per Permanent Account Number (PAN) per month. This modification has been officially communicated by the Asset Management Company (AMC) through Notice cum Addendum No. 49/2023, issued on October 3, 2023.

Top Mutual Funds: These small-cap funds gave up to 42% returns in just one year
Small-cap mutual funds have given stellar returns to investors in the last year. With a gain of 42.46 per cent, Quant Smallcap Fund Dir emerged as the top gainer. It was followed by HDFC Smallcap Dir (41.51 per cent) and Franklin India Smaller Companies Fund (up 37.82 per cent) as per data available on Value Research.

A lot of money chasing little stocks but now investors navigating from higher to lower quality: Pankaj Tibrewal
Pankaj Tibrewal, Senior EVP & Fund Manager (Equity), Kotak MF, says “our sense is that consumption around the second half of this year should start picking up, led by festive season as well as election spending and do not forget that this time the wedding dates in the second half are about 35-36 days which is one of the highest over the last four-five years. So, broadly speaking, in the near term, markets may face headwinds. However, if you take a three- to five-year view, India is very nicely positioned from an economic cycle perspective.”

After 3 years, Mirae Asset raises SIP limit to ₹25,000 per month
Mumbai: Mirae Asset Mutual Fund has increased maximum investment limit through SIP in its Emerging Bluechip fund to ₹25,000 per PAN per month from October 10 on the back of improved economic growth prospects. The fund had capped maximum investment in the fund at ₹2,500 per month in November 2020 to protect existing investors interest amid huge inflows.

Kotak MF mops up ₹3,600 crore via multi-asset NFO
Mumbai: Kotak Mahindra Asset Management Company has collected over ₹3,600 crore through the new fund offer of multi asset allocation fund. The NFO, which closed on September 14, has registered the highest-ever collection made by the fund house in an NFO, with over 1 lakh applications. The fund was made available for continuous sale and repurchase from Tuesday.

Motilal Oswal Mutual Fund launches Nifty 500 ETF: Key things to know
Motilal Oswal Asset Management Company (MOAMC) has announced the launch of the Motilal Oswal Nifty 500 ETF. This exchange-traded fund aims to offer investors exposure to more than 90% of India's listed market capitalization and an excellent opportunity to participate in India's growth story. The ETF is expected to list on NSE on 6th October 2023; the trading symbol is ‘MONIFTY500’.

Samco Mutual Fund files draft for Dynamic Asset Allocation Fund

Samco Mutual Fund has filed a draft for Samco Dynamic Asset Allocation Fund. Samco Dynamic Asset Allocation Fund will be an open-ended dynamic asset allocation fund.

Staying away from PSUs costs mid, small-cap MFs dearly
 

India to be KKR’s biggest non-US operations centre and a critical growth market, says COO Ryan Stork

Global private equity investor KKR on Wednesday said that it is expanding its presence in India with the opening of a new operations back-office in Gurugram, which will be its largest such operations centre outside of its home market of USA, signifying the growing importance of India in KKR’s global ecosystem.

RBI likely helped rupee stem losses amid global bond rout
The Indian rupee ended marginally lower on Wednesday amid a global bond rout, as likely dollar sales by the Reserve Bank of India (RBI) prevented a move towards record lows.

For the Indian bond market, discusNow, Bloomberg Index Looking to Include Indian Sovereign Bonds