Irdai retains obligatory cession of business to GIC Re at 4% for FY25
In the order dated February 16, 2024, released on Friday, the insurance regulator said, “The percentage cession of the sum insured on each general insurance policy to be reinsured with the Indian Re-insurer(s) shall be 4 per cent in respect of insurance attaching during the financial year beginning from 1st April 2024 to 31st March 2025, except the terrorism premium and premium ceded to the Nuclear pool wherein it would be made ‘NIL’.”
 

Future Generali India Insurance CEO says growth momentum to continue on motor and health insurance
Future Generali India Insurance Company is expecting to post a growth of 20 per cent, crossing the Rs 5200 crore-mark in FY24 and the company said that the strong growth will continue in the next fiscal. The company’s motor insurance segment alone has contributed to nearly 37 per cent of its overall premium collection during FY 2022-23, said Managing Director and CEO Anup Rau. “In fact, we serviced the highest numbers—more than 2 lakh own damage claims—in 2022. Customers appreciated our speed of settlement, while our cashless network increased to more than 6,500 workshops across all locations in the country,” he added. 

Why women don’t buy enough life insurance
Source Credit: Nirjhar Majumdar, The Financial Express

Zurich Insurance to buy 70% stake in Kotak arm upfront in amended deal
Zurich Insurance to buy 70% Kotak General stake via single deal of ₹5,560 crore
The Hindu Business Line

ICICI Lombard rolls out innovative 'Game of Life' media campaign. Details here
ICICI Lombard has introduced a groundbreaking integrated media initiative called “Game of Life". This pioneering concept in the insurance domain combines the excitement of gaming with the practicality of insurance. Departing from the conventional use of celebrity endorsements and traditional marketing strategies within the industry, this campaign leverages the captivating allure of virtual games. This innovative approach strongly connects with the digital-native generation, making the brand more appealing not only to a younger audience but also positioning it as a tech-centric player.

Market regulator Sebi proposes easing investment norms for passive funds
The regulator said the move will allow exchange-traded funds (ETFs) and index funds to track the underlying index without any unintended tracking error.

SEBI plans to make nomination optional for joint MF portfolios
Mumbai: Capital market regulator SEBI has excluded investment made through ETFs and index funds from the regulations on exposure to a single stock of own group companies and nomination has been made option for joint investments in mutual fund schemes. In a consultation paper to promote ease of doing business among MFs, SEBI on Friday allowed single fund manager to manage commodity and overseas investment. The recommendations were made by the working group constituted by SEBI to promote the ease of doing business and reduce the compliance burden.

Fresh NPS adoption by companies rises 9% in December, shows NSO data

The corporate component of the scheme is voluntary in nature and includes people working in public sector organisations, private limited companies or public sector banks, among others.

Pension funds ride high on equity bull run, 1-year returns surge to 28.66%
Roaring bull markets in equities have helped Pension Funds continue registering a sizzling performance with an average annual return of nearly 30 per cent from their equity investments, the latest PFRDA data showed. This average annual return of 28.66 per cent in equities — as of February 16, 2024  —is more than triple the return of about 8.17 per cent seen in Corporate Bonds. 

Why this multi-asset fund helps investors sail through elevated markets
The markets have been on a frenzy for much of 2023 and the current year as well. Benchmark indices are making fresh life-time highs in recent weeks amidst occasional volatility. Even the bond markets have rallied after a difficult 2022, and a largely sideways 2023. After massive increases in interest rates during 2022 and early-2023, resulting in a mixed run for bonds, central banks have finally hit the pause button on further hikes for many months now.

Digital lending beckons distant Indian towns as MF units and shares gain traction as a collateral
Financial inclusion has been one of the primary goals that the Government of India wants to achieve through its various initiatives. Access to efficient credit on demand is one of the important factors that will help in achieving this goal.

A tale of two fund houses: Quant MF, PPFAS use diverse strategies to attain INR50,000 crore AUM.
Even before he started Quant Mutual Fund, Sandeep Tandon believed in the basic idea of looking at stocks that were at inflection points. He did not stick to the size but looked for opportunities and kept on moving from the most-admired to the most-ignored sectors. But recently, he made a killing in Reliance Industries (RIL) when the stock moved up 7% in a day. His was the only fund that had a concentrated position in RIL.

Select mutual funds pull the plug on transaction charges to distributors
"The payment was discontinued keeping the operational challenges and customer dissatisfaction in mind," said DP Singh, Deputy MD and Joint CEO, SBI MF.

It’s like a Goldilocks moment for India: Abhijit Bhave, CEO and MD, Equirus Wealth
How do you see the markets playing out in the next few months?