ICICI Lombard: Now ICICI Bank’s Insurance Arm
ICICI Bank makes ICICI Lombard its subsidiary ICICI Bank, India’s second-largest private sector lender, has acquired an additional stake in ICICI Lombard General Insurance, making it a subsidiary company. The bank has bought 1.06 crore shares of the insurer for Rs 1,787 crore in two tranches through open market transactions. Here are the details of […]
HDFC Life Provides Health Cover for Overseas Indian Students
HDFC Life International, a subsidiary of HDFC Life, one of India’s leading life insurance companies, has launched a comprehensive US Dollar Student Health Insurance Plan, under the plan name ‘Global Student Health Care’. The plan is designed for students who are presently pursuing higher education abroad or aspire to pursue higher international education in the […]
Bajaj Allianz Inaugurates New Office in Ayodhya, UP
Bajaj Allianz, one of the leading private insurance companies in India, has opened a new office in Ayodhya, Uttar Pradesh, to provide comprehensive insurance solutions to the customers in the city and nearby areas. The new office was inaugurated on 20th February 2024 by Mr. Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, […]
Sukoon Health Offers Cashless Insurance for Mental Care
Sukoon Health, a chain of mental health hospitals, has launched a cashless insurance scheme for patients seeking psychiatric inpatient care. The scheme covers a wide range of mental health conditions and aims to make mental healthcare more accessible and affordable. Sukoon Health has collaborated with five private insurance companies to provide this initiative. The need […]
IRDA’s 30-Day Free-Look Period for Insurance
If you have ever bought an insurance policy and regretted it later, you might be aware of the free-look period. It is a provision that allows you to return the policy within a specified time frame and get a refund of the premium paid, subject to certain deductions. The Insurance Regulatory and Development Authority of […]
LIC Increased Investment in SBI Cards & Payments
Life Insurance Corporation of India (LIC), the largest institutional investor in the country, has increased its stake in SBI Cards & Payments Services Limited, the second-largest credit card issuer in India. LIC acquired more than three lakh shares of SBI Cards through open market purchases on February 9, 2024, taking its shareholding from 4.99% to […]
HDFC Life Ties Up with Lokmanya Society
HDFC Life, one of India’s leading insurers, has entered into a corporate agency tie-up with Lokmanya Multipurpose Cooperative Society, a prominent financial institution with over 200 branches across four states. The partnership will enable Lokmanya Society to distribute HDFC Life’s diverse range of life insurance products to its customers. About HDFC Life It is a […]
Bima Sugam: IRDAI’s New E-Marketplace for Insurance
Bima Sugam is an electronic insurance marketplace proposed by the Insurance Regulatory and Development Authority of India (IRDAI) to provide a one-stop online shop for all insurance policies. The IRDAI has released draft regulations for Bima Sugam, which aims to protect and empower policyholders’ interests, increase insurance penetration in India, and enhance availability, affordability, and […]
ESIC Expands Healthcare: Superannuated Members Now Eligible
What is the ESIC Scheme? The Employees’ State Insurance Corporation (ESIC) is a statutory body that provides social security and health insurance to workers in India. The ESIC scheme covers workers earning up to Rs 30,000 per month and provides them with medical care, cash benefits, maternity benefits, disability benefits and pension benefits. Who are […]
Tax-Efficient Pension Product by ICICI Prudential
ICICI Prudential Life Insurance, one of the leading private life insurers in India, has launched a new retirement savings product, ICICI Pru Gold Pension Savings. This product is designed to help customers build a tax-efficient retirement corpus and enjoy a regular income for life after retirement. What is ICICI Pru Gold Pension Savings? ICICI Pru […]