Top Indian Insurance Industry News & Updates - 16 March 2024,Saturday

🏭 Industry

📝  Public insurance companies running Ayushman Bharat scheme in only Tamil Nadu, three more states: Sources
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🗎 Life Insurance

Planning to surrender your life insurance? Know the costs first
Surrendering a life insurance policy entails terminating the contract before its maturity date and cashing in the accumulated cash value. While this may seem like an attractive option in times of financial strain or changing circumstances, it is essential to weigh the consequences carefully.
Government gives nod for 17% wage hike for LIC employees, to benefit over 1 lakh staff
Life Insurance Corporation of India (LIC), has announced that the government has approved a 17% wage revision for its staff, effective from August 2022.
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🗎 General Insurance

What is personal loan insurance and what does it cover? MintGenie explains
Personal loans themselves do not carry insurance. Nonetheless, there exists a product called personal loan protection insurance (PPI), also referred to as loan repayment insurance, which borrowers often consider to safeguard themselves from potential financial strain in the event of defaulting on loan payments.
Non-life insurance to grow 13-15% in the medium term: CareEdge Ratings
The non-life insurance market is expected to grow 13-15 per cent in the medium term, primarily driven by the health and motor insurance segments, and increasing disposable income levels, according to CareEdge Ratings. The health insurance segment continues to remain on track to breach the ₹1 lakh crore mark whereas the motor segment crossed the ₹80,000 crore threshold in FY24.
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🏦 SEBI

Most unresolved investors' complaints belong to venture capital funds, Sebi data shows
In the month of February, there were 5,371 pending investors' complaints at the start of the month, data released by the markets regulator Securities Exchange Board of India (Sebi) reveals.
PwC India to offer automation in SEBI Prohibition of Insider Trading Regulations through alliance with Axar Digital Services
As part of its services to provide compliance monitoring and advisory services, PwC India has entered into an alliance with Axar Digital Services Private Limited (Axar) to further drive automation in the space of Securities and Exchange Board of India (SEBI) Prohibition of Insider Trading Regulations, 2015 (PIT Regulations).
Allowing pledging of equities by AIFs for infra projects a win-win
The Securities & Exchange Board of India recently came out with a consultation paper to give flexibility to Category I and II AIFs to create encumbrance on their holding of equity in infrastructure sector investee companies to facilitate raising funds through debt by them.
📝  Sebi board approves easing additional disclosure norms for FPIs
📝  Sebi approves trial run of same-day stock settlement
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🗎 Mutual Funds / AMCs

Small and mid-cap funds to continue to garner investor interest, says ICRA Analytics
Small cap and mid cap funds, which have witnessed a steady surge in AUM (Assets under Management) over the last one year, are likely to hold investor interest in the medium to long term, said a report by ICRA. The surge, it added, is due to the value created in the entities backed by robust regulatory framework leading to better corporate governance practices and the government’s firm intent to push for an intrinsic growth in the country’s economy. 
Open-ended Vs Close-ended Mutual Fund: Which fund is good for investment?
Mutual funds offer investors the opportunity to invest in a diversified portfolio of securities managed by professionals. They are broadly categorized into two types: open-ended and close-ended funds. Understanding the differences between these two types can help investors make informed decisions based on their financial goals and risk tolerance.
Large MFs face higher risks, small/mid-cap stress test shows
Mumbai: The stress test on the mid- and small-cap mutual fund schemes mandated by market regulator SEBI has revealed that some of the larger players may be at higher risk compared to their smaller peers.
How India's top 10 small cap mutual funds stand on liquidity stress test
Mumbai : India's top small-cap fund managers will require substantial time, in some cases up to 30 days, to liquidate a quarter of their portfolios during market upheavals, as revealed by stress tests conducted by various fund houses.
Mutual Fund stress test: Edelweiss Small Cap Fund to take 3 days for 50% portfolio liquidation
Edelweiss Asset Management Company has announced the stress test results of its smallcap and midcap mutual funds schemes. It shows that the Edelweiss Small Cap Fund with asset under management of ₹3,198.9 crore would take three days for the liquidation of its 50% portfolio if a sharp selloff occurs in the stock market.
New Fund Offer: DSP Mutual Fund launches DSP S&P BSE Liquid Rate ETF – Check details
DSP Mutual Fund has announced the launch of DSP S&P BSE Liquid Rate ETF (DSP BLR ETF), an open-ended scheme replicating/ tracking S&P BSE Liquid Rate Index. The Fund offers investors easy cash management with ample liquidity and low risk.
After Sebi chief, S Naren of ICICI Prudential MF has a warning for fund managers.
A lot has happened over the last few days.
📝  Mutual fund stress test spooking market, no scientific basis: Former Sebi official
📝  Smallest small cap mutual fund can liquidate 100% portfolio in 1 day: Stress test report
📝  Sebi stress test: Largest smallcap MF scheme to take 27 days to liquidate 50% of portfolio
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🗎 Govt Securities / Bonds

📝  India bond yields see first weekly rise in five as US peers jump
📝  Relentless spike in US yields turns India bond traders more cautious
📝  Spotlight on murky world of bond IPOs
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✈ International News

Health Insurers Split With US Over Relief After Cyberattack
Health insurers and US government officials are expected to meet next week to hash out differences over how to assist cash-strapped medical practices, as a cyberattack last month continues to hold up billions of dollars in payments.
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