Insurance and Mutual Fund Newsletter - October 24 to 28, 2016

India Infoline News Service | Mumbai | October 29, 2016 10:35 IST

This week saw HDFC ERGO tie-up with Maruti Insurance Broking to offer Motor Insurance products. IIFL presents a weekly snapshot of all the major happenings in the Insurance and Mutual Fund industry.

Top News
ICICI Prudential Life Q2 net at Rs 419 crore
ICICI Prudential Life Insurance Company Ltd saw its net profit increase to Rs 419 crore in the quarter compared to Rs 415 crore in the corresponding period last year. New business growth and market share of ICICI Prudential Life registered a year on year growth of 17.1% in retail weighted received premium (RWRP) for H1 FY17.  Read More
HDFC ERGO ties-up with Maruti Insurance Broking to offer Motor Insurance products
HDFC ERGO General Insurance Company, India’s leading private sector non-life insurance provider, announced the tie-up with Maruti Insurance Broking Private Limited, India’s Largest Provider of Motor Insurance Brokerage Services, to offer Motor Insurance products to buyers of Maruti Suzuki cars. This strategic alliance will now enable instant policy issuance and efficient claims settlement services to Maruti Car owners. Read More
Domestic News
Reliance Capital Q2 cons net profit rises 31% at Rs 327 crore
The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs 253 crore for the quarter ended September 30, 2016 where as the same was at Rs. 250 crore for the quarter ended September 30, 2015. Total Income is Rs. 4926 crore for the quarter ended September 30, 2016 where as the same was at Rs. 2372 crore for the quarter ended September 30, 2015. Read More
OCARE launches Dental Insurance product; Group insurance at sum assured of Rs 25K
In  a  first  ever,  OCARE,  India’s  first,  and  only,  independent Insurance Process as a Service ( PAAS) platform, launched the first ever Dental Insurance Product in the country. A Group Insurance product, it offers a sum assured of Rs 25,000/‐. Additionally, in its nationwide effort to of er dental insurance mass‐market, OCARE has also started a unique endeavor to offer its products through the country’s Gram Panchayats, by providing Group Dental Insurance to villages. Vihigaon, a village panchayat located in the Buldhana district of Maharashtra state, India, becomes the first village to be covered by OCARE Dental Insurance. Read More
PPFAS Mutual Fund changes the scheme name
PPFAS Mutual Fund, promoted by Parag Parikh Financial Advisory Services Pvt. Ltd. (PPFAS) has changed the name of its flagship scheme PPFAS Long Term Value Fund with effect from today, September 16, 2016. The only scheme offered by PPFAS Mutual Fund will now be known as Parag Parikh Long Term Value Fund. Neil Parikh, Chairman and CEO, PPFAS Mutual Fund Said, “We have changed the scheme name to pay homage to our founder, late Parag Parikh, whose vision and actions have been instrumental in where we stand today. Given his standing and image in the industry, it has the potential to ensure better connect and recall among investors, as compared to the acronym.” Read More



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