Top Indian Insurance Industry News & Updates - 11 March 2024,Monday

🏭 Industry

Hospitals’ body launched to address insurance-related challenges in Gujarat
To address challenges faced by private hospitals, nursing homes, laboratories and radiology centres related to insurance and government-run schemes, the Gujarat Association of Hospitals, Nursing Homes and Allied Healthcare Services (GAHNA) was launched in Ahmedabad Sunday.
📝  Insurance firm told to pay 1.33 lakhin mediclaim
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🗎 Life Insurance

Keep records, communicate: Dealing with unclaimed insurance policies

“Unclaimed life insurance funds refer to the death or survival benefits from policies that have not been claimed by beneficiaries or policyholders,” says Tarun Mathur, co-founder and chief business officer, Policybazaar.com.
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Insuretech

Blockchain and future applications on insurance tech
Emerging technologies have always played an important part in modernising conventional industry, making their products more accessible, convenient and easy to use. It is no different with insurance and blockchain tech – when the Amicable Society sold its first insurance policy over three hundred years ago, it would have been unfathomable that there can be an immutable source of truth that cannot be falsified, which can in turn be used to underwrite or process a policy – this is possible today with blockchain technology. Several insurance companies use blockchain in some form or other to improve the claims experience, reduce fraud and minimise overheads.
Zopper eyes expansion into EMs, targets 50-60% growth in India in 3 years
As a business-to-business (B2B) distribution-focused insurtech, Zopper plans to expand its distribution ecosystem and strengthen partnerships with banks, non-banking financial companies (NBFCs), travel portals, brands, and retail chains. The company, operating in over 1,200 cities with more than 200 partners, utilises Zopper APIs to enhance the scope of distribution channels and reach a broader audience in newer markets.
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🏦 SEBI

SEBI notifies regulations for small and medium REITs
Mumbai: Securities and Exchange Board of India has notified the regulations for small and medium real estate investment trusts and specified that investment managers of such REITs should have a minimum net worth of ₹20 crore and the REITs can raise a minimum of ₹50 crore from at least 200 unit holders.
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🗎 Mutual Funds / AMCs

New MF distributor portability norms to trigger competition, hit income
Mumbai: The new mutual fund distributor portability norms may leave distributors with no commission during the six months mandatory cooling-off period, leaving them high and dry, especially if investors trigger multiple switches. A spin-off effect of the new norms is, it will help large distributors poach businesses from smaller players by offering better services and ease of investment.
India's valuation premium justified, can sustain if not expand: Rahul Singh
How do you perceive the current positioning of the Indian market? Do you envision possibilities for further upside, considering valuations have run up?  
Mutual fund industry tracks 3.41 per cent growth, February sees highest inflow in equity funds
 
Why global stocks were a big miss for PPFAS MF’s Rajeev Thakkar
Rajeev Thakkar, 51, chief investment officer of PPFAS Mutual Fund (MF), oversees around ₹60,000 crore of investor assets. The firm’s flagship PPFAS Flexicap Fund is where the bulk of Thakkar’s MF investments is parked. Besides domestic Indian companies, the fund also invests in international stocks.
📝  3 equity mutual fund categories gave double-digit returns in 2024 so far
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🗎 Equities, Pvt. Equity / Hedge Funds

FPI inflows pick up in March, investors inject Rs 11,800 crore in equities so far
After keeping away from the Indian markets in February, foreign portfolio investors (FPIs) are back in the month of March. FPIs are turning steady buyers in India with net buying of equity worth Rs 11,823 crore up to March 8.
FPIs inject over ₹6,100 crore in equities in March on strong economic growth, market resilience
Foreign Portfolio Investors (FPIs) are turning steady buyers as they bought Indian equities worth ₹6,139 crore so far this month driven by strong economic growth, market resilience and decline in US bond yields. This came following a modest investment of ₹1,539 crore in February and massive outflow of ₹25,743 crore in January, data with the depositories snowed.
Max taps PE funds to sell up to 10% stake in Antara
Mumbai: Max India Ltd is in talks with private equity (PE) firms to sell 5-10% stake in its subsidiary Antara Assisted Care Services Ltd, two people aware of the development said.
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🗎 Govt Securities / Bonds

Sovereign gold bonds help save $3.3 billion in India's gold import bill
In terms of value, with SGBs valued at $3.26 billion in FY24, it is expected to save 7-8 per cent of the country’s annual import bill for the precious yellow metal.
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