Top Indian Insurance Industry News & Updates - 09 May 2024,Thursday

🏭 Industry

Rising health insurance premium leaves buyers sore
New Delhi: With premiums going through the roof, people are anxious over health insurance burning a hole in their pockets. Industry insiders and consumers businessline spoke to want the government to expedite the setting up of a health regulator or reduce the GST rate from current 18 per cent to curb the surging cost of health insurance.
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🗎 Life Insurance

Dixon Tech, Indus Towers among top bets of insurance companies in April 2024

Indian life insurance industry, excluding LIC of India, Nuvama said, commands an impressive aggregate equity assets under management (AUM) of nearly Rs 4.5 trillion. Nuvama Alternative's Insurance Portfolio Analyzer offers monthly insights into the top five players, collectively representing almost 80 per cent of the AUM.
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🗎 Health Insurance

India’s Health Insurance Makeover: ‘Cashless Everywhere’ to ‘Bima Vistaar’ – Mega insurance reforms on the way
The Insurance Regulatory and Development Authority of India (IRDAI) has plans to introduce big reforms for the health insurance sector in a bid to make insurance more accessible and consumer-friendly.
Customise insurance riders to fit your family's medical background

A growing number of health insurance customers are nowadays supplementing their base health insurance policies with riders. According to insurance aggregator Policybazaar.com, while only 15 per cent of customers purchased riders on their platform in 2022-23 (FY23), the number rose to 60 per cent in FY24.
 
📝  HDFC Ergo withdraws 3 health insurance policies: How will it impact policyholders? Will premiums increase?
📝  Health insurers settled 60% of claims cashless
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🏦 SEBI

📝  Sebi comes out with stringent rules to tackle misconduct, corrupt practices by employees
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🗎 Mutual Funds / AMCs

Mutual funds bet on 'special' opportunities as uncertainties loom
Two fund houses WhiteOak Capital and Samco are set to launch special opportunities funds next week. Kotak MF has also filed papers with the regulator to launch a scheme in the same category.
Top 10 mutual funds for SIP to invest in 2024: From Quant to Nippon — check out the best performers across small-cap MFs
Top 10 mutual funds for SIP to invest in 2024: From Quant to Nippon — check out the best performers across small-cap MFs
Mutual funds sells G-sec to book profit after stocking up in April
MFs emerged as significant buyers of government bonds in April, net purchasing approximately Rs 10,384 crore worth of gilts. According to fund managers, this change in behaviour can be attributed to some fund houses capitalising on profit opportunities by selling bonds, while others are actively trimming the duration of their portfolios.
NFO Alert! Baroda BNP Paribas Mutual Fund launches retirement fund | Know key features and objectives of the scheme
Baroda BNP Paribas Mutual Fund has launched a new scheme Baroda BNP Paribas Retirement Fund. The new fund offer (NFO) will remain open for subscription from May 8 till May 22, 2024.
A glimpse into Prateek Agrawal’s revamp of Motilal Oswal AMC
Motilal Oswal Mutual Fund boasts of some top-performing funds. Its mid-cap fund has consistently delivered impressive returns over the past 10 years. But the fund house itself has been floundering for the last many years, with its growth style of investing taking a brutal beating. This period also marked the departures of some key people. Fund managers took advantage of the situation and began deploying their own styles. Now, the asset management company (AMC) is setting its house in order.
📝  Take SIP route to invest in mid- & small-caps
📝  Baroda BNP Paribas Mutual Fund launches retirement fund
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🗎 Equities, Pvt. Equity / Hedge Funds

📝  India well-poised to get to $80-100 billion PE-VC deployments in 5 years: report
📝  Asset manager TPG raises $8 bln for Asia-focused private equity, real estate funds
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🗎 Govt Securities / Bonds

Do hybrid bonds actually offer depositors protection?
During the last few years, there have been a few instances of the write-down of debt capital instruments issued by banks in the Indian market—such as the Tier 1 bonds of Yes Bank in March 2020 and Tier 2 bonds of Lakshmi Vilas Bank in November 2020 after being declared non-viable by the Reserve Bank of India (RBI). Similarly, there have been precedents of the complete write-off of these instruments globally, the most recent being the Tier 1 bonds of Credit Suisse following its takeover by UBS.
JPMorgan's inclusion of Indian bonds into index to aid private credit mkt
India’s inclusion into JPMorgan Chase & Co.’s bond index will give a boost to its private credit markets by providing a benchmark for investments and attracting more inflows, according to BPEA Credit. 
India leads first Asia high-yield dollar bond sales rise in five years
Asia’s high-yield dollar bond sales this year have grown annually for the first time in five years, fueled by Indian financial companies’ rush to access offshore investors.
📝  Muthoot Finance raises $650 million via offshore dollar bonds
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