Irdai sets up 12-member committee to simplify insurance policy wordings
The committee, which will be headed by L Viswanathan, a member of the Insurance Advisory Committee (IAC), will also include the Secretary Generals of the Life Insurance and General Insurance Council along with the president of the Insurance Brokers Association of India (IBAI) and the Principal Officer, State Bank of India (Corporate Agent) as well as other senior members of the insurance industry. Further, the committee can also include external experts if found necessary.
 

Irdai excludes retail sector of general insurance from arbitration clause
The clause will now only apply to commercial lines of business.
 

Arbitration clause in general insurance policies now only for commercial lines of business
Insurance regulator IRDAI has advised general insurers that all policies issued under the commercial lines of business must have an arbitration clause.

Bajaj Finserv Q2 PAT at Rs 754 cr
 

SBI Life quarterly profit flat at Rs 380 crore
SBI Life Insurance on Friday reported an almost flat net profit of Rs 380 crore in the three months ended September. The insurer had registered a net profit of Rs 377 crore in the same quarter of the previous fiscal.

Insurance query: How to make the claims process friction-free
I recently experienced first-hand the usefulness of life insurance when a relative passed away unexpectedly. The life insurance policy diligently maintained served as a lifeline for his family during that trying time. It brought home the realisation that life insurance must be well-maintained. How can one ensure frictionless life insurance claim payments?

General insurer Bajaj Allianz net profit jumps 39% in Q2
Private general insurer Bajaj Allianz reported net profit for the quarter ended September stood at ₹468 crore, an increase of 39.3% over the year earlier period.

ManipalCigna Health Insurance provides customised insurance solutions to bolster healthcare in Hyderabad. Details here
ManipalCigna Health Insurance, a rapidly expanding independent health insurance company in India, is proactively enhancing its footprint in Hyderabad and nationwide. It aims to cater to various healthcare financing needs and introduce its innovative health insurance solutions to new customer segments.

SEBI extends ban on select agri-commodity derivatives trading by 1 year
Mumbai: Capital market regulator SEBI has extended the ban on select agriculture commodity derivatives till December 2024. The commodities that will continue to remain banned from derivatives trading include paddy (non-basmati), wheat, chana, mustard seeds and its complex, soyabean and its complex, crude palm oil and moong.

Sebi's instant settlement plan faces foreign investor pushback
India's plan to allow the settlement of equity market trades within the same day is facing pushback from offshore investors who fear it will lead to a fragmented system and add to the cost of trading, said two people with direct knowledge of the matter.

Edelweiss multi-­cap NFO garners highest-ever collection of ₹1,000 crore: Report
Edelweiss Mutual Fund has managed to raise more than ₹1,000 crore through its Multi Cap Fund NFO. The fund has recorded the highest collection ever achieved by Edelweiss MF in an equity NFO, reported Business Line. 

Aditya Birla Sun Life Mutual Fund launches Transportation and Logistics Fund; all you need to know
Aditya Birla Sun Life Mutual Fund announced the launch of the Aditya Birla Sun Life Transportation and Logistics Fund. The scheme opened for public subscription on October 27, 2023, and will close on November 10, 2023. The scheme re-opens for continuous sale and repurchase within five business days from the date of allotment.

Edelweiss Mutual Fund files draft documents for two ETFs

Edelweiss Mutual Fund has filed draft documents for two new Exchange Traded Funds: Edelweiss Gold ETF and Edelweiss Silver ETF.

Edelweiss recently listed IPO fund limits lumpsum investmentsf

Edelweiss Mutual Fund has decided to limit the lumpsum investment (including switch-ins) in Edelweiss Recently Listed IPO Fund. The fund house has decided to limit the subscription to Rs 2 lakh per transaction. This change will be effective from November 6 until further notice.

54% equity hybrid schemes beat benchmarks in 2023

Around 54% equity hybrid schemes have outperformed their respective benchmarks in 2023, an analysis by ETMutualFunds showed. We considered the returns of 105 hybrid schemes in 2023 and compared them with returns offered by their respective benchmarks. We found out 57 schemes have managed to beat their respective benchmarks in 2023 - an outperformance of 54%.

Indian equity market divides global, domestic analysts
Indian equity market has divided analysts down the middle. While analysts at global advisory firms are rooting for Indian stocks, domestic analysts are raising the red flag.

What’s going on in the bond market?
Interest rates on mortgages, credit cards and business loans have shot up in recent months, even as the Federal Reserve has left its key rate unchanged since July. The rapid rise has startled investors and put policymakers in a tough spot.