‘Insurance players need to underwrite disruptions to improve market penetration’
Mumbai: Insurance players need to underwrite disruptions to make the vision of ‘insurance for all’ a reality by 2047, regulator IRDAI’s chief Debasish Panda said on Tuesday. The chairman of the Insurance Regulatory and Development Authority of India (IRDAI) also emphasised that the approach of ‘one-size-fits-all’ has become a thing of past due to the radical technology-driven changes taking place in the industry. It’s time we retrieve our base, firm up our resolve and collectively underwrite disruptions in the insurance sector and make the vision of ‘insurance for all’ a reality by 2047. In this process, the role of the actuary becomes paramount. The disruptions in the insurance sector cannot happen without the support of actuaries, Panda said at the 23rd global conference of actuaries organized by the Institute of Actuaries of India here.

Composite licence for insurers can be a game-changer
A parliamentary panel has suggested introducing a composite licence for insurance companies which will enable them to offer both life and non-life insurance products. Saikat Neogi explains how it will give insurers economies of scale and benefit customers at the same time

IRDAI chief asks insurance players to underwrite disruptions to improve market penetration
Irdai chief asks insurance firms to underwrite disruptions to grow biz

Max Life Insurance eyeing pole position in digital sales, online customer acquisitions: CEO
New Delhi: Max Life Insurance Company Ltd (Max Life), a private life insurer, which will double down on growing its online channel, aspires to become the market leader in digital sales and customer acquisitions, said its MD & CEO Prashant Tripathy.

LIC rakes in record $4.7 billion from share sales amid market surge in Q3
Mumbai :  Life Insurance Corp. of India (LIC) reaped windfall gains in the December quarter, selling a record $4.7 billion worth of shares of listed domestic companies as the shares reached all-time highs during the market bull run.

Insurance: How is your plan an investment instrument too? 5 key reasons explained
At the time of buying an insurance plan, investors often consider assured returns as key incentive, while wealth generation is seen secondary, if at all. Investment experts, however, often assert that a well-chosen insurance plan not only offers good returns, helping investors accumulate wealth over a period of time, but also provide insurance benefits at the same time.

Go Digit clears another hurdle on road to IPO
The insurance regulator has approved Go Digit’s plan for a public share sale, two people aware of the development said, after faulting the digital insurer last year over a non-disclosure.

Co-location case: Sebi rejects NSE’s settlement plea
The Securities and Exchange Board of India (Sebi) has rejected a settlement application by the National Stock Exchange (NSE) in the co-location case. According to a report by moneycontrol, NSE had filed under the consent mechanism of the market regulator. The mechanism allows market participants to settle any alleged security market violation by paying a fee and without admitting or denying guilt.

Union Mutual Fund launches Union Business Cycle Fund; all you need to know
Union Mutual Fund announced the launch of the Union Business Cycle Fund. The scheme opened for public subscription on February 13, 2024, and will close on February 27, 2024. The scheme re-opens for continuous sale and repurchase within five business days of the date of allotment.

‘Wait for IDBI Bank divestment could stretch further’
New Delhi: The strategic disinvestment process for IDBI Bank could be further delayed. DIPAM (Department of Investment and Public Asset Management) Secretary Tuhin Kanta Pandey has said that it will not be possible for the process to be completed in the first half of the next fiscal. However, Pandey said the strategic disinvestment process of the Shipping Corporation of India (SC) is likely to be completed in the first half.

Smaller cities join big players in mutual fund investments
Mumbai: The average asset under management of ₹52.89-lakh crore of top five States and Union Territories (UTs) including Maharashtra, New Delhi, Karnataka, Gujarat and West Bengal accounted for 68 per cent of mutual fund industry last month.However, the share of top-5 States has come down marginally from 69 per cent as new entrants in mutual fund space are making inroads in smaller cities, according toICRA Analytics.

Top performing mutual funds of 2024 based on past returns.
Investing in mutual funds is a popular option for those looking for long-term growth and diversification. While historical returns are important to consider, there are other factors that also influence investors' decisions.

Edelweiss Mutual Fund CEO Radhika Gupta shares these investing tips for retail investors
As the popular TV show Shark Tank continues to captivate audiences across the globe, it has become a platform for entrepreneurs to showcase their business ideas and seek investments from some of the most successful business leaders.

Nuvama Wealth net profit doubles to ₹178 crore in Q3
Nuvama Wealth Management (formerly Edelweiss Securities) on Tuesday said its net profit almost doubled to ₹178 crore in the December quarter on the back of all-round growth in fee-based businesses.

Brookfield India Real Estate Trust to distribute ₹209 crore to unitholders for Q3
Brookfield India Real Estate Trust on Monday reported an 89 per cent growth in net operating income to ₹453.4 crore and declared distribution of ₹208.56 crore for the December quarter.

Gold ETFs attract Rs 657 cr in January
New Delhi: Gold Exchange Traded Funds (ETFs) attracted Rs 657 crore in January, marking a seven-fold jump compared to the previous month, according to Amfi data. Experts believe that the appeal of the precious metal as a safe haven and hedge against inflation will continue amid ongoing geo-political tensions and higher inflation in the US. The inflow helped inflate the assets under management (AUM) of gold funds by 1.6 per cent to Rs 27,778 crore by the end of January compared to Rs 27,336 crore at the December-end, the Association of Mutual Funds in India (Amfi) data showed. The net flows in Gold ETFs were sharply higher at Rs 657.4 crore in January from Rs 88.3 crore in the previous month, the data showed. The launch of Tata Gold Exchange Traded Fund which garnered Rs 6 crore also aided the growth.

India bond yields rise as traders cautious before US inflation data
Indian government bond yields inched higher in early trade on Tuesday, as traders cut positions after data showed local inflation met estimates and the focus shifted to U.S. inflation data due later in the day. India’s benchmark 10-year yield was at 7.1023% as of 10:00 a.m. IST, its previous close of 7.0946%.

Canara Bank raises Rs 2,000 crore in capital through Tier-I bonds
Bond market dealers said the investors predominantly put in bids for about Rs 2,500 crore. The coupon at 8.40 was 90 basis points above a high-rated corporate bond with similar tenure or call option. It was just six basis points higher than pricing for State Bank of India (SBI), which carried a certain premium in the market due to its systematic importance and better profile, they added.
 

Yield spread between corporate bond and g-sec narrows in February

Additionally, the sentiment was impacted by the variable rate reverse repo (VRRR) auctions conducted by the central bank last week to suck out liquidity.