Top Indian Insurance Industry News & Updates - 20 Jan 2024,Saturday

🗎 Life Insurance

LIC introduces Jeevan Dhara II deferred annuity plan
LIC launches non-participating product Jeevan Dhara-II: Check details here
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🗎 General Insurance

📝  Most common/unusual car insurance claims in India: Frontal impact, coconut falls to elephant attacks
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🗎 Health Insurance

Medical Insurance: Looking to widen the sum assured? Here are 5 effective ways to have better protection
In views of the growing medical costs, it is — undoubtedly — imperative to increase the sum assured of your medical insurance policy year after year. Those policyholders who bought their insurance policy four to five years ago should make sure that the sum assured of their policy is in tune with growing inflation and rising medical costs.
Health Insurance: Feeling the heat of high premiums?
Health insurance is vital to safeguard your financial well-being. However, an unexpected rise in the premium at the time of renewal can strain your budget. Healthcare inflation has been consistently above consumer price index (CPI) inflation since FY18. Insurers have hiked prices across both retail and group schemes because of the adverse loss ratios in the past couple of years. Here are some practical steps to prevent your health insurance premium escalating beyond your comfort zone.
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🏦 SEBI

Sebi red flags inflated IPO subscription numbers; Three issues face probe for fudging data
The Securities and Exchange Board of India (Sebi) is investigating three cases of alleged inflation in subscription numbers of initial public offerings (IPOs), chairperson Madhabi Puri Buch said on Friday.
SEBI chairperson launches CDSL’s two new multi-lingual initiatives
The SEBI chairperson Madhabi Puri Buch today launched two new multi-lingual initiatives of CDSL. The first initiative named ‘Apka CAS – Apki Zubaani’ enables the investors to download and view their consolidated account statement in 23 different languages, according to a press release. 
Market regulator Sebi planning comprehensive stress tests of equity schemes
The markets regulator reviewed reports of the first round of stress tests by fund houses recently but the data provided was not satisfactory, said Buch at a summit on capital formation by the Association of Investment Bankers of India (AIBI).
Over Rs 30,000 crore AIF investments found circumventing norms: Sebi
In a consultation paper floated on Friday, the market regulator said that it has facilitated the setting up of a Standards Forum for AIFs (SFA) for the ease of implementation of AIF regulations.
📝  Sebi to crack down on inflated IPO subscriptions
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🗎 Pension Funds/PF

Private sector enrolments for NPS touch 6-lakh mark, still short of 13 lakh annual target
Pension regulator PFRDA remains “hopeful” about reaching the set annual goal of adding 13 lakh new NPS subscribers from the private sector this fiscal, despite the current count being only 6 lakh, its Chairman Deepak Mohanty said on Friday.  The latest PFRDA move to effect slew of changes in the Points of Presence (PoP) regulations will drive increased NPS adoption from the non-government sector, he said.
PPF vs NPS: How FM Nirmala Sitharaman can make pension scheme more attractive in Budget 2024?
National Pension System (NPS) is a Govt of India-sponsored program, which is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). An NPS subscriber invests in the capital market (equity, govt securities, corporate bonds, and alternative assets) as per their respective risk appetite to build up his retirement corpus.
NPS corpus to reach Rs 12 trillion by March: pension regulator
Aided by favourable market conditions, the assets under management under the National Pension System (NPS) including Atal Pension Yojana rose about 28% on year to Rs 11 trillion as of January 13 this fiscal, and are poised to reach Rs 12 trillion by March 31, Pension Fund Regulatory and Development Authority Chairman Deepak Mohanty said on Friday.
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🗎 Mutual Funds / AMCs

Passive mutual fund assets spike 31% to ₹8.74­ lakh crore in a year, says report
Passive mutual fund schemes performed better than most actively managed schemes such as equity, hybrid, debt and solution-oriented schemes last year, largely due to record­-breaking spree of most popular indices, reported Business Line. 
ICICI Prudential Dividend Yield Fund: Adds stability to your portfolio
Despite the recent market correction, the indices are close to their all-time highs and therefore necessitate some caution. One of the safer options is to consider the dividend yield theme while investing. Companies usually become reasonably consistent and high dividend yielding once they become mature, and these are available across market caps though they are more prevalent in the large cap space. Of course as with all styles, these too could underperform at times, especially when markets have a unidirectional rally and growth stocks are on a roll.
ITI Mutual Fund eyes AUM of ₹10,000 cr by 2024-end
“We ended the last calendar year with an AUM of ₹5,947 crore. The AUM grew around 50 per cent in the last 9 months. We should be able to grow the AUM to ₹10,000 crore within the next 12 months,” said ITI Mutual Fund chief business officer Mayukh Datta.
📝  PSUs’ easy money phase over; betting on domestic cyclicals: Anish Tawakley
📝  UTI Mutual Fund launches two passive debt funds
📝  Best gilt mutual funds to invest in 2024
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🗎 Govt Securities / Bonds

📝  PSBs want fair value rule eased for recap bonds
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✈ International News

📝  US bonds keep bearish tone after strong jobs data
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