Provide insurance cover to staff travelling in employers' vehicle: Irdai tells insurers
Insurance regulator Irdai on Wednesday asked general insurers to provide cover to employees travelling in employer's vehicle. The Madras High Court had directed Irdai to make IMT-29 compulsory as an in-built coverage for employees while issuing a private car policy for such vehicles. IMT stands for India Motor Tariff.

Life insurance gimmicks: How insurance companies trick policyholders with exit barriers
Life insurance, particularly ULIP has been the most accused product for about a decade now, due to the cursed legacy, mostly of policies which were issued pre 2010 when ULIPs used to operate at disproportionately high charges which dipped into the benefit of customers. 

Attractive valuations make ICICI Prudential Life Insurance a long term buy
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank’s channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels.
 

ICICI Lombard H1 PAT up mere 3% on impact of one-time tax reversal
Mumbai: ICICI Lombard General Insurance’s net profit rose a mere 3 per cent y-o-y to ₹968 crore in Q2, due to a higher base last year, owing to a tax provision reversal. Excluding the one-time impact, the profit after tax was up 19.2 per cent for the six-month period ended September. For Q2 FY24, the profit after tax fell 2.2 per cent to ₹577 crore, but was up 24.8 per cent excluding the impact of the provision reversal. Gross Direct Premium Income (GDPI) grew 18.2 per cent to ₹12,472 crore, higher than the industry growth of 14.9 per cent.

Non-life insurance industry projected to grow by 14 to 15% CAGR by FY37
Source Credit: Aathira Varier, Business Standard

Mumbai: The non-life insurance industry is projected to grow by 14-15 per cent in gross direct premium income (GDPI) through to FY37. This forecast was shared with finance ministry officials on Tuesday in a meeting attended by CEOs of private sector general insurance companies, members of the General Insurance Council, and Vivek Joshi, Secretary of the Department of Financial Services, Ministry of Finance.\
 

Health policies beat motor in premium
Mumbai: Health insurance is growing faster than motor policies after the pandemic. The share of health covers in non-life insurance premium has risen to 38% in September from 33% in March, driven by group policies.
 

Insurance critical illness cover: What is it and why should you opt for it?
Extraordinary times call for extraordinary measures. Similar is the case with medical insurance. Although buying a health insurance is vital for all of us, it may still not be enough when a critical illness catches you unawares. 

Health is wealth: Here's why investing in a health insurance plan is a smart choice this festive season

It’s true that the pandemic caused an overhaul of the pre-existing ecosystem of doctors and patients, and the relationship of an individual with their health. People struggled to find hospital beds owing to the crumbling down of an overburdened healthcare machinery, while those who were seeking care at home often had a hard time finding an oxygen cylinder. Some lost their dearest ones. Others are reminded of the mounting hospital bills draining out financial resources and taking a toll on the family’s health. This disruption brought the grim reality of life’s fragility to the forefront, triggering a peak in consumer consciousness and consumption of healthcare literature, fitness products, and well-being services. The underlying lesson was to recognise the need for a health insurance plan.

Health insurance for NRIs: Check geographical coverage, sum insured
A growing number of non-resident Indians (NRIs) are choosing to purchase health insurance policies for themselves and their dependents in India. A recent study by Policybazaar found that about 71 per cent of the 3,000 respondents bought a policy in India.  

Wealth management firm Neo raises $35 million from Peak XV
Wealth and asset management startup Neo has raised $35 million from Peak XV Partners(formerly Sequoia Capital India) in a growth round. The funds will be used towards the company’s growth initiatives, including development and expansion of its wealth management business, deepening on its asset management franchise, and on attracting talent.

UTI AMC net profit falls 9%, revenue 7% to Rs 404 crore
Mumbai: UTI AMC's profit after tax fell 9% to ₹183 crore during the September quarter from ₹200 crore in the same period a year ago.

MF debt schemes to park ₹3,300 crore in CDMDF next week
Mumbai: Mutual fund houses will start parking ₹3,300 crore from next week into the Corporate Debt Market Development Fund (CDMDF) created by capital market regulator SEBI as a backstop arrangement to bailout specified debt schemes in times of market dislocation.

Indian mutual funds up government bond buying, bet on medium-term gains
Indian mutual funds have stepped up government bond purchases after a recent spike in yields, and are likely to continue buying in the near future as they eye gains over the medium term, five fund managers said.

Aditya Birla Sun Life Mutual Fund launches US Treasury 1-3 Year Bond ETFs FoFs; all you need to know
Aditya Birla Sun Life Mutual Fund announced the launch of the Aditya Birla Sun Life US Treasury 1-3 year Bond ETFs Fund of Funds, an open-ended fund of funds scheme investing in units of ETFs focused on US Treasury Bonds having maturity between 1-3 years.

Why mutual funds are beneficial for long-term investments

When you hear "Mutual Fund," you might think of the familiar warning about market risks or the catchy slogan about them being right for you. However, instead of getting caught up in these aspects, let's explore the essence of Mutual Funds.

Quant Mutual Fund files draft documents for three new schemes

Quant Mutual Fund has filed draft documents for three new schemes: quant Commodities Fund, quant Consumption Fund, and quant PSU Fund.

Do SIP investments in mutual funds offer assured returns?

Investors are increasingly pouring money into mutual funds through SIPs with monthly collections surging past the Rs 16,000 crore mark. However, there are still many myths surrounding this mode of investment into risk assets.

Edelweiss Mutual Fund files draft for Edelweiss Technology Fund

Edelweiss Mutual Fund has filed a draft document for Edelweiss Technology Fund. The scheme will be an open-ended equity scheme investing in technology and technology-related stocks.

NIIF looks to sell over $1 billion worth of maiden roads portfolio

Mumbai: India's sovereign-backed National Investment and Infrastructure Fund (NIIF) is looking to sell its maiden portfolio of five road projects, worth around Rs 10,000 crore ($1.2 billion) on an enterprise value basis, sources aware of the development told ET.

Why interest in smaller banks is currently higher as compared to top private banks? Dipan Mehta explains
"I think we are getting to that phenomena where a lot of smaller banks will grow much faster. And investors are therefore shifting their allocation within the portfolio from the larger banks, the ones which have delivered exceptional returns, to the smaller ones, to the PSU banks because that is where I think the risk return profile is better," says Dipan Mehta, Director, Elixir Equities.

Piramal Enterprises' maiden NCD issue opens on Thursday; to raise up to Rs 1,000 crore
Piramal Enterprises Limited on Wednesday said it plans to raise Rs 1,000 crore from maiden issuance of Non Convertible Debentures (NCDs) to fund business growth. The tranche I comprises the base issue size of Rs 200 crore and a green-shoe option of up to Rs 800 crore, aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 3,000 crore.