Nirmala Sitharaman vocal for local Maritime Protection & Indemnity Insurance body
New Delhi: Finance minister Nirmala Sitharaman on Thursday made a case for a full-fledged locally owned and based Protection and Indemnity Insurance, or P&I, entity and called for developing capabilities and legal systems so that the country can have an international arbitration centre for the maritime sector.

ICICI Lombard General Insurance Company Q2 FY24 results: profit falls by 2.25% YOY
ICICI Lombard General Insurance Company declared their Q2 FY24 results on 18 Oct, 2023. The topline increased by 12.65% & the profit decreased by 2.25% YoY. As compared to the previous quarter, the revenue grew by 11.44% and the profit increased by 47.88%.

HDFC ERGO General Insurance launches Optima Secure: Here are its review, features and more
Health insurance is a financial arrangement that provides coverage for medical expenses and healthcare services. It is crucial to have health insurance as it offers financial protection against unexpected medical costs, ensuring that individuals can access necessary medical care without facing excessive financial burdens.

Royal Sundaram kicks off initiative to improve insurance penetration in Telangana

Commencing the initiative in Telangana, the lead insurer Royal Sundaram organised a meeting with the nominated representatives of other general insurance companies at Hyderabad to discuss the modalities to work collaboratively with other insurance companies.  Representatives from several general insurance companies, both from the private and public sectors participated in the meeting. 

Health insurance premium drive growth of non-life insurance industry
Source Credit: Aathira Varier, Business Standard

Mumbai: The health insurance segment grew by 24.4 per cent in the first half of FY24 to Rs 54,713.52 crore from Rs 43,981.54 crore in H1FY23, driving the growth of the overall non-life insurance industry. The surge in the price of group health premiums acted as a key contributing factor.
 

Health insurance new features: Common cashless network across the country, 100% cashless system to be launched soon

The Insurance Regulatory and Development Authority of India (IRDAI) is working with industry players to introduce two new features in health insurance policies. These are — a common network of hospitals for all health insurance policies issued by any health insurance or general insurance company across the country and a 100% cashless settlement system.

Sarika Saxena appointed as Managing Partner at IAN Alpha Fund
New Delhi: IAN Group has appointed Sarika Saxena as Managing Partner, IAN Alpha Fund, a SEBI registered AIF Cat II, sector agnostic venture capital fund.

Sebi eases norms for borrowing for large corporates through debt securities
New Delhi: Capital markets regulator Sebi on Thursday relaxed norms for borrowings through the issuance of debt securities by large corporates to meet their financing needs. Under the rule, entities qualified as large corporates are required to meet 25% mandatory borrowing from bonds.

LIC Pension Fund selects KFin as tech partner
Mumbai: KFin Technologies, a global leader in Fund Administration solutions, has signed a multi-year Investment Management Solution contract with LIC Pension Fund.

Aditya Birla Sun Life US treasury NFOs: Should you invest in these bond FoFs?
The US Federal Reserve has been hawkish for nearly 18 months in its relentless fight against inflation. It has increased interest rates from near zero levels to 5.25-5.5 per cent by hiking rates 11 times over the past year or so. Barring a few odd spikes, inflation has cooled off steadily from 9.1 per cent in July 2022 to 3.7 per cent in October 2023.

Helios Mutual Fund launches Helios Overnight Fund; should you invest?

Helios Mutual Fund has launched Helios Overnight Fund, an open-ended debt scheme investing in overnight securities with relatively low interest rate risk and low credit risk.

Baroda BNP Paribas Mutual Fund files draft for NIFTY 50 Index Fund

Baroda BNP Paribas Mutual Fund has filed a draft for Baroda BNP Paribas NIFTY 50 Index Fund. The scheme will be an open-ended scheme replicating/tracking the NIFTY 50 Total Return Index.

PE firm Faering Capital invests $30 mn in Vastu Housing Finance
Mumbai: Private equity firm Faering Capital has acquired a $30 million stake from Multiples Alternate Asset Management and others in Vastu Housing Finance Corp., the two firms said on Thursday. 

‘Godrej Capital will need ₹4,000 cr of equity to raise loan book to ₹50,000 cr by 2027’
Godrej Capital Ltd will need₹1,000 crore a year for the next four years of equity capital, consistent with its aim to raise its loan book from about ₹8,000 crore now to ₹50,000 by around 2027, the company’s Managing Director & CEO, Manish Shah, told journalists here today. 

Like the dotcom crash: Rising US bond yields are spooking the market. But India seems insulated.
For bond markets this could well be the dotcom crash.

US 10-year bond yields surge to 16-year high near 5%

New Delhi: US 10-year bond yields surged to a 16-year high on Thursday to within sniffing distance of the psychological 5% mark, causing jitters in the global stock markets already edgy over the escalating West Asia conflict.

Liquid funds see huge outflows as RBI's liquidity moves boost yields

Mumbai: Liquid funds, which are usually a favoured avenue amongst debt mutual funds for corporates to park short-term cash, have seen hefty outflows as the Reserve Bank of India's resolve to tighten banking system liquidity conditions has exacerbated cyclical outflows at the end of the half-year.

Rates near peak, one can lock some money into Piramal NCDs

Mumbai: Fixed-income investors looking to diversify their portfolios and add non-convertible debentures (NCDs) could consider a small allocation to the NCDs of Piramal Enterprises. With interest rates close to their peak, financial planners believe investors could use the opportunity to lock into high yields and a possible capital appreciation as and when rates fall.

Bond bonfire drives U.S. 10-year Treasury yield to cusp of 5%
Yields on 10-year U.S. Treasuries jumped again on Thursday, nearing a 5% level not seen since just before the financial crisis in 2007, with markets on edge before Federal Reserve Chair Jerome Powell speaks about the economy later in the day.