Your money: Early surrender of non-par policies leads to big losses
The insurance regulator has brought out an exposure draft on surrender charges on non-par policies. If implemented, it will alter the policy conditions of non-par policies for those contemplating surrendering their policies in the early part. Surrendering of policies will be attractive for those paying annual premiums over Rs. 25,000.

LIC receives another Income Tax demand notice worth Rs 1,370.60 crore

The insurer said that it will file an appeal against the tax notices with the Commissioner (Appeals), Mumbai, within the prescribed timelines.

Insurance industry embracing digitalisation, AI: Mint BFSI Summit
 

Revision of PM Fasal Bima Yojana norms are underway to address current challenges
Hyderabad The revision of operational guidelines for Pradhan Mantri Fasal Bima Yojana (PMFBY) is under process to address some of the challenges being faced in the implementation of the scheme, according to the Insurance Regulatory and Development Authority of India (IRDAI). “The process is currently underway with the government and an advisory to States and insurance company has already been issued for tender cycle kharif 2023 till rabi 2025-26,’‘ an IRDAI official told businessline, when asked on a recent report on the matter.

National Youth Day: How insurance products can help young Indians achieve their long-term financial goals
With India expected to have one of the youngest populations across major economies in the world till at least 2030, it is important to secure the financial and social security of the country’s youth in order to capitalise on this demographic dividend. Towards this end, it is critical that they develop the requisite financial skills that can nurture good financial practices and begin their wealth creation journey as soon as they gain formal employment. 

Kotak Mahindra Life Insurance sees 2024 as year of expansion, says top official Alagh
New Delhi: Kotak Mahindra Life Insurance sees 2024-25 as a year of expansion and will look to grow across agency, bancassurance and direct sales, Manish Alagh, Senior Executive Vice President and Head Tied Agency & Direct Marketing has said.

HDFC Life posts ₹1,157 crore PAT for 9M FY24, premiums up 11%
Mumbai: HDFC Life Insurance posted a net profit of ₹1,157 crore for the nine-month period ended December 2023, a growth of 16 per cent year-on-year. Number of policies for HDFC Life grew 9 per cent, outpacing private and overall industry, and taking the total number of lives covered to nearly 5 crore across the individual and group businesses. Total premium for 9M FY24 rose 11 per cent y-o-y to ₹42,139 crore led by 15 per cent growth in renewal premium and 7 per cent in new business premium. The insurer’s market share in terms of new business premium fell to 19.8 per cent from 20.3 per cent a year ago.

Max Life opens office in Dubai
https://timesofindia.indiatimes.com/business/india-business/max-life-opens-office-in-dubai/articleshow/106761123.cms

HDFC Life posts Q3 profit at Rs 367.54 crore, up 16.3% on-year
 

Tired of bearing Out-of-Pocket Medical Costs? Here are 3 strategies to minimize them
In a world where health is both a priority and an unpredictable challenge, the burden of out-of-pocket medical costs (OoPE) often weighs heavily on individuals and families. The quest for effective strategies to minimize these costs has never been more critical.

GST on health insurance is too high
A growing economy like India needs to ensure that its citizens are healthy. It is often stated that a healthy individual can contribute positively to the GDP of a country and therein lies the importance of a robust health insurance system. Health insurance can play a key role in ensuring that Indian citizens do not suffer a setback due to the affordability aspect of quality healthcare.

Southern region takes lead in NPS enrolment: PFRDA
 

Back To Basics: Did you fill the MF risk-o-meter survey?
Mutual fund (MF) investors may have recently received an e-mail asking for participation in a survey on the effectiveness of the risk-o-meter. Despite the initially-anticipated one-month duration, the survey, which featured comprehensive questions, concluded abruptly within a shorter period. Investors who ignored fund house mails would have missed the opportunity to participate. A somewhat similar survey, conducted by Axis Mutual Fund in September last year, unveiled a worrying statistic: about 61 per cent of respondents were unaware of the significance of the risk-o-meter. So, here’s a lowdown on the risk-o-meter, along with crucial factors that demand the attention of investors.

ICICI Pru Sensex ETF completes 21 years, delivers 17% CAGR
Mumbai: ICICI Prudential S&P BSE Sensex ETF, one of the oldest ETFs, has completed 21 years and has an asset under management of ₹4,561 crore as of December-end. An initial investment of ₹1 lakh on January 10, 2003, has compounded at 17%, resulting in a growth to ₹26.4 lakh. In the same timeframe, the benchmark S&P BSE Sensex TRI delivered a CAGR of 17.4 per cent. Given that ETFs replicate the underlying index, the difference between the benchmark index returns and the scheme return is attributed to tracking error. The fund has a tracking error of 0.04 per cent (1-Year) and an expense ratio of 0.03 per cent.

Mutual funds: Tata Digital India Fund delivered a whopping 32% return in last one year; check scheme details here
Before deciding to invest in a mutual fund scheme, investors often weigh a slew of factors such as the category it belongs to, the fund house that runs it, scheme’s asset size, its constituent stocks and sectors, and importantly – the returns it has delivered in the recent past.

Anand Rathi Wealth Q3 profit rises 34 pc to Rs 58 crore
Anand Rathi Wealth, part of Mumbai-based financial services group Anand Rathi, on Friday reported a 34 per cent surge in profit after tax at Rs 58 crore for the three months ended December 2023.In comparison, the company had posted a profit after tax of Rs 43.2 crore in the same quarter of the preceding fiscal, Anand Rathi Wealth said in a regulatory filing.Total revenue rose 34 per cent to Rs 187.3 crore in the October-December quarter of the current fiscal (FY24) from Rs 140.2 crore in the quarter ended December 31, 2022.

These index mutual funds delivered up to 53% return in one year. Do you have any in your portfolio?
Mutual funds have long been a staple in investment portfolios, offering a diversified and professionally managed approach to building wealth. It is one of the most widely used investment options in India.

DSP Mutual Fund launches Healthchare ETF
DSP Mutual Fund has launched DSP Nifty Healthcare ETF, an open-ended scheme tracking Nifty Healthcare Index. The Nifty Healthcare Index covers diversified themes like pharmaceuticals, hospitals, pathology, healthcare research analytics & technology. It adjusts or rebalances every 6 months to represent the top 20 stocks (companies from healthcare sector) based on free float market cap from the Nifty 500 universe.

Private equity investments hit 7-year low at $8.97 billion in 2023: LSEG Deals Intelligence
New Delhi: Private equity and venture capital investments in India declined 63 percent in 2023 to touch $8.97 billion compared with $24.19 billion in the previous year, data available with LSEG Deals Intelligence showed.

REC to raise about Rs 3,500 crore via yen-denominated green bonds
State-owned REC Ltd on Friday announced it will raise 61.1 billion yens (about Rs 3,500 crore) through issuance of green bonds.The bonds will issued as part of REC’s USD 10-billion global medium-term note programme, the company said in a regulatory filing.