IRDAI norms on surrender value to be effective April 1: Here’s how it will impact policyholders
The Insurance Regulatory and Development Authority of India (IRDAI) has come out with final regulations in relation to surrender value of insurance policies. As per the latest IRDAI guidelines set to be implemented from April 1, surrender values for life insurance policies are anticipated to generally maintain their current levels or potentially decrease if policies are surrendered within the initial three years. However, surrendering life insurance policies between the fourth and seventh years may result in a slight increment in surrender value.

IRDAI issues series of regulations, tweaks regulation on surrender charges
New Delhi: Insurance regulator IRDAI has notified a host of regulations, including on surrender charges wherein insurers have to disclose such charges upfront. IRDAI (Insurance Products) Regulations, 2024 merge six regulations into a unified framework aimed at enabling insurers to swiftly respond to evolving market demands, enhancing the ease of conducting business, and boosting insurance penetration. These regulations promote good governance in product design and pricing, including strengthening the principles governing guaranteed surrender value & special surrender value along with disclosures thereof, IRDAI said in a statement.

Hinduja Group starts rebranding Reliance Capital, operating units
The Hinduja Group has started the process of rebranding Reliance Capital (RCap) and its operating companies, following the successful bid of the debt-laden firm, as it awaits final regulatory approvals.

LIC, Cathay Life, NRMA: Which is the strongest insurance brand globally?
Maintaining its strong position in the market, Life Insurance Corporation of India has emerged as the top insurance brand globally, according to the Brand Finance Insurance 100 2024 report. The report has revealed that LIC’s brand value is steady at $9.8 billion, accompanied by an impressive brand strength index score of 88.3 and an AAA brand strength rating.

LIC receives GST demand notice of Rs 39.39 lakh from Gujarat I-T officials

The company has received a communication/demand order for interest and penalty from the Additional Commissioner, Central Goods & Service Tax, Gandhinagar on January 3, 2024, LIC said in a regulatory filing.

Life insurance shares in focus; Max Financial, HDFC Life rally up to 6%

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations. However, policyholders who cancel their policies will not get as much as what was proposed under the draft exposure norms, which were aimed at curbing mis-selling in December 2023, reports suggedted.

LIC world's strongest insurance brand: Brand Finance Insurance Report

According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion, followed by NRMA Insurance, which saw an 82 per cent rise in brand value to $1.3 billion.

FM defends Atal Pension Yojana scheme
 

Editorial. A case for enhancing MF overseas investment limits
With mutual funds exhausting their $1 billion limit to invest in overseas Exchange Traded Funds (ETFs) this week, domestic investors can no longer diversify across the borders through the mutual fund route. The $7 billion limit that the Securities Exchange Board of India (SEBI) had set for Indian funds to invest in overseas stocks and bonds had run out in January 2022, pushing investors to explore ETFs in the past year. The mutual fund industry has been knocking at the regulators’ doors to enhance its overseas investment limits. SEBI and Reserve Bank of India (RBI) must favourably consider these requests.

Why this largest balanced advantage fund is a good investment choice
In the current markets, blue chip indices are near all-time highs. Bonds have rallied well in the last year, and yields have been falling for government securities. However, recent months have seen volatility in the mid- and small-cap spaces as valuations ran ahead of fundamentals. Market regulator SEBI has expressed concerns about liquidity in the space – so much so that it has asked funds to conduct stress tests.

Investors open wallets for equity mutual funds in choppy markets
In February alone, investors poured Rs 11,500 crore through the lump sum route, the highest since March 2022, according to data from the Association of Mutual Funds in India.

SBI’s parabolic rally has seen MFs book profits. Will investors continue to bet on Khara’s optimism?
Around three years ago, when State Bank of India (SBI) chairman Dinesh Kumar Khara said that ‘the elephant was ready to dance’, Dalal Street was divided into two camps – those who believed him and those who didn’t. At the time, SBI shares were hovering around INR400 apiece.

Markets regulator asks MFs if they mis-sold funds
 

PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn
Private equity firm Olympus Capital Asia plans to sell a 9.8% stake in India's Aster DM Healthcare for up to 19.53 billion rupees (nearly $234.5 million), according to a term sheet seen by Reuters on Tuesday.