Universal Sompo General Insurance inaugurated its policy processing centre (PPC) at Mahape, Navi Mumbai recently. The PPC will be the central policy issuing office for the company. The premises will also have the company’s IT centre, call centr ..

IDBI Bank, Federal Bank and Fortis Insurance International have together invested 2.5 bn rupees in its life insurance venture toexpand business.The funds were invested as per the shareholding pattern, a statement from the insurance venture IDBI Forti ..

KOLKATA : When Anil Mehrotra (name changed), a finance executive with an MNC operating in India, lost his job for refusing to reimburse a sheafof false bills forwarded by his managing director, he could not muster enough courage to draw the attention ..

Mumbai, March 16: Indian banks' may face rising non-performing assets in next fiscal in the face of economic slowdown, financial servicesmajor ING Vysya feared on Monday."We expect the NPA levels of Indian banks to go upto 3.5-4 per cent lev ..

New Delhi, March 16: The Reserve Bank has extended the last date for companies to complete the buyback of FCCBs, a kind of overseas debt, by nine months to December 31, 2009. "It has been decided to extend the date for completing the entire proc ..

Kolkata, March 16 The four public sector general insurers – United India Insurance Company, National Insurance Company, New India Assurance and Oriental Insurance Company – have been holding on to their combined market share so far this y ..

CHENNAI: IDBI Fortis Life Insurance announced a capital infusion of Rs. 250 crore from its shareholders as per its share holding pattern. IDBI Fortis launched its operations in March 2008 with an initial capital of Rs. 200 crore. The company is targe ..

MUMBAI: Financial services provider Religare Enterprises on Monday said its brokerage arm — Religare Hichens Harrison — in association with NTT Europe Online, had launched online trading services in line with its global expansion plans.

New York: The American International Group plans to pay about USD 165 million in bonuses even though the troubled insurance giant received a taxpayer bailout of over USD 170 billion, says a media report."The American International Group, which h ..

The Reserve Bank of India’s open market operations (OMOs) to buy benchmark government bonds pushed yields lower today. But concerns over the huge supply of government paper kept the yield at elevated levels.Dealers said yields were soft in the  ..

MUMBAI: Corporate earning indications from fourth-quarter advance tax payouts seem to be a mixed bag. Financial services such as banking and insurance have emerged as clear winners, but engineering and construction companies have been impacted by the ..

MUMBAI: In the wake of a slack response to equity-linked tax-saving schemes this fiscal end, a few mutual funds have attempted to sweeten the deal by throwing in insurance cover.Investors, however, seem to be in no mood to be attracted by such freebi ..

MUMBAI: IDBI Bank, Federal Bank and Fortis are set to infuse Rs 250 crore in their three-way insurance joint venture — IDBI Fortis LifeInsurance.The contribution of each of the three entities will be in proportion to their stakeholding in the v ..

MUMBAI: State-run Life Insurance Corp of India (LIC) has raised its stake in engine maker Cummins India Ltd by 2.18 percent via open marketpurchases, the insurer said in a statement to the stock exchange on Monday.LIC acquired 4.3 million Cummins Ind ..

LONDON: The Indian economy will likely revive faster than other countries though it is difficult to predict when, Reserve Bank of India (RBI) Governor D. Subbarao said on Sunday.Subbarao, who is now in London to attend the Group-20 meet, told BBC Wor ..

With market-linked products finding fewer takers, insurance companies are launching more “guaranteed” products to lure investors. The latest to join the bandwagon is SBI Life insurance with SBI Smart ULIP, a product that guarantees return ..

New Delhi, March 15 State-owned life insurer LIC Corporation of India is likely to sign a bancassurance agreement with Punjab National Bank on Monday.Bancassurance is the selling of insurance products by a bank. Such an agreement would pave the way f ..

The country's biggest insurance service provider, LIC, has hiked its stake in Indian Overseas Bank (IOB) to 9.96 per cent after purchasing additional shares worth Rs 57.65 crore through open-market transaction.Life Insurance Corp has purchased ov ..

In a bid to know about available solvency margins and bring in more transparency in terms of corporate governance, the Insurance Regulatory and Development Authority (Irda) has asked life insurance companies to submit scrip-wise details of their inve ..

While mutual fund investors may be feeling buyer's remorse about their investments, some of those who have gotten into the fund business recently are feeling even deeper buyers' remorse. A few days back, a senior executive in the business sai ..