For the first time in LIC history, the government on Tuesday demoted chairman to MD and appointed bureaucrat Rakesh Singh as acting chairman.TS Vijayan may resign today.

ING Life India, part of the ING Group, has tied up with Visakhapatnam District Central Co-op Bank in Andhra Pradesh.The tie-up gives access to ING Life India to make its products available to more than 60,000 customers of the co-op bank through its 2 ..

The country's largest financial institution, Life Insurance Corporation of India, has decided to appoint a brand consultant to ensure that it appears as a tech-savvy institution to the public.LIC has invited expressions of interest from consultan ..

Life Insurance Corporation of India today launched 'Samridhi Plus' under its unit linked portfolio offering insurance protection, safety and growth.Samridhi Plus safeguards policyholders' investment from market fluctuations, LIC said in a ..

The insurance regulator may have stipulated that all health policies will be portable from July 1, but insurers may refuse to accept policies on the pretext of poor risk profile of individuals and upper age of entry — especially for senior citi ..

Insurance regulator Irda plans to review a rule that mandates insurers to offer guaranteed maturity benefits on unit-linked pension plans to boost sales of these products. The regulator will unveil new guidelines on pension products offered by insure ..

Private sector insurer ING Life today said it has launched two new products -- ING ACE Pension and ING ACE Life.The two traditional plans of ING Life, launched in its 10th year of operation, offer guaranteed returns and tax benefits, the company said ..

The government today said the Unique Identification Authority of India (UIDAI) has suggested formation of a working group with participation of market regulator SEBI to work out modalities for recognising 'Aadhaar' for Know Your Client purpos ..

With the Budget 2010-11 around the corner, the life insurers have put forward their wish lists. The Life Insurance Council (LIC), the official representative body of the life insurers had recently met the standing committee on finance headed by forme ..

Anil Ambani group firm Reliance Mutual Fund today launched a new Gold Savings Fund, a first-of -its-kind investment scheme focused on gold, to tap a market that it expects to become bigger than even equity mutual funds.The new fund, which is differen ..

Often eulogised by life insurers as the lifeline of their business, individual agents are also a source of comfort for many policyholders who prefer dealing with a familiar face. While banks that are engaged in insurance distribution have the advanta ..

With the Budget just round the corner, insurance companies have suggested a separate limit for deductions under Section 80C of the Income Tax Act, for long-term saving instruments like life insurance and exempt exempt exempt (EEE) treatment on the ma ..

Software services provider Mastek is scouting for acquisitions worth $10-$30 million in insurance vertical, its chief financial officer said on Tuesday.Insuarance business accounts for 44-45 percent of Mastek's overall revenue."We see defini ..

Encouraged by 8.6 per cent growth rate estimates for the current fiscal, the Chief Economic Advisor, Mr Kaushik Basu, has said 9 per cent economic expansion for the next financial year is “well within target’’.“The prospects f ..

Investment skewed towards debt this year’.Life Insurance Corporation (LIC) of India, which is conducting an internal probe into the bribe-for-loan scam that surfaced at LIC Housing Finance (LICHF) in November, has not detected any aberration as ..

MEDICAL CAREIt is important to be prepared with a corpus to meet expenses that arise suddenly.Health care as a part of your risk management plan is like wearing a helmet while driving a two-wheeler or a seat belt while driving a car. Every individual ..

The Life Insurance Corporation (LIC) on Saturday said an internal probe body has so far found no wrong-doing in its housing arm.Speaking to reporters on the sidelines of a programme here in Murshidabad district, LIC chairman T.S. Vijayan refused to c ..

Life Insurance Corporation of India, the state-run company facing competition from nimble private rivals, will soon have a pension plan for its half a million strong agents to keep the flock together amid large scale poaching.The special pension plan ..

Life Insurance Corporation of India, the state-run company facing competition from nimble private rivals, will soon have a pension plan for its half a million strong agents to keep the flock together amid large scale poaching.The special pension plan ..

Private insurer Bharti AXA Life Insurance today said it has launched five products - two of them unit-linked and three in traditional categories."Post the new guidelines by IRDA, we have developed our new portfolio of insurance products to suit  ..