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Insurance Newsletter - June 14 to June 20, 2013

India Infoline News Service | Mumbai |

The Life Insurance Corporation of India will set up 300 mini offices across the country by end of June.

Top Stories

Affordable insurance must for lower income groups: IRDA

The Insurance Regulatory and Development Authority (IRDA) said that financial inclusion means making insurance available to lower income groups at an affordable cost. Read more...

IRDA gets ready for product refiling process

The Insurance Regulatory and Development Authority (IRDA) on Thursday said that products sent for re-filing which are compliant with the new guidelines would be cleared in a week’s time, according to a media report. Read more...

How do I financially educate my child?

We teach our children the importance of having good manners, eating well and studying hard. Yet, somehow, we do not lay equal emphasis on financial matters. Why not? After all, children will not remain young forever. They will grow up, explore the world, chase successful careers, get married, raise a family and more. A basic knowledge of financial matters and an understanding of how to manage their money will stand them in good stead in their later years. Read more...

Domestic News

LIC to set up 300 mini offices by end-June

The Life Insurance Corporation of India will set up 300 mini offices across the country by end of June, said Thomas Mathew T, Chairman-in-charge, LIC, adding that the corporation was opening 10 mini offices a day. Read more...

Shriram Life plans to add around 8,000 new agents

Hyderabad-based Shriram Life is targeting business worth Rs. 5bn from group insurance in the next three years, according to a media report. Read more...

IAI to expel former IRDA member for misconduct

IIFL MF launches infrastructure debt fund

Bharti AXA Life launches ‘Flexi Save’

LIC looks to rejig ops, forms two core study groups

New Appointment

Govt appoints SK Roy as LIC Chairman

Learning

Know more about home insurance

Home is where the hearth is, as rightly said. A major portion of investment in a person's life is targeted at home. Availing the best home insurance policy therefore ensures that this investment is secured against natural calamities like tornado earthquake or any other unfortunate event like theft, fire etc. Equipping oneself with a right home insurance policy the homeowners or policyholders can remain prepared to face any consequences that may come in their way in the event of a natural calamity. Read more...

International News

Moody's: Stable outlook for China's life insurers

Moody's Investors Service says the outlook on China's life insurance industry is stable, as insurers preserve their profitability and capitalization levels in the face of expected subdued premium growth in the next 12-18 months. Read more...

Swiss Re applies principles for sustainable insurance

In the 2012 Corporate Responsibility Report, Swiss Re enhances its accountability by reporting against the Principles for Sustainable Insurance for the first time. Together with the United Nations Environment Programme (UNEP) and other partners, Swiss Re played an active role in developing the principles, which are part of an initiative to advance sustainable business practices across the re/insurance industry, Swiss Re said. Read more...

FDIC, Canada Deposit Insurance Corp tie-up

The Federal Deposit Insurance Corporation announced the signing of a memorandum of understanding (MOU) with the Canada Deposit Insurance Corporation (CDIC) that formalizes and strengthens cross-border cooperation in the event of the failure of a large, complex financial institution operating in both countries. Read more...

FDIC, CFPB unveil financial literacy tool for elderly

FDIC announces senior personnel changes
 

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