Insurance Newsletter June 16 to 20, 2014

India Infoline News Service | Mumbai |

LIC Housing Finance Limited completes 25 years of unwavering commitment and successful business operations.

News this week

FSLRC Report recommends size & scope of regulators as Schizophrenic
RBI Governor Dr Raghuram Rajan said that there are various pros and cons of having a unified financial regulator. Speaking at the State Bank of India's, Banking and Economic Conclave in Mumbai, Rajan said, Excessive legal oversight of regulators is dangerous. The Financial Sector Legislative Reforms Committee (FSLRC) Report gives no reason to the department from status quo. According to the Governor, there is much to like and agree with the FSLRC report. We need to ensure there is adequate finance for infrastructure sector. There is a need to study more on FMC (Forward Market Commission) inclusion in the unified financial agency. No single regulator emerged from the financial crises, he added... Read more

Financial Sector Legislative Reforms Committee Report: What to do and when?

Gartner endorses TATA AIA Lifes matured Project
The principles and processes of IT Infrastructure Operations and Service Delivery of Tata AIA Life Insurance Co. Ltd. (Tata AIA Life) have been endorsed by global technology research firm Gartner as best practices on how companies can improve their IT service management and Infrastructure Operations (I&O) maturity. The research firm observed, In Tata AIA Life Insurances Infrastructure Operations organization, Project and Portfolio Management (PPM) skills and practices are leveraged to manage IT Service Management (ITSM) process integration initiatives.... Read more
 
LIC Housing Finance celebrates its Silver Jubilee year
LIC Housing Finance Limited completes 25 years of unwavering commitment and successful business operations. LIC HFL enjoys a track record of having disbursed over 1,39,000 crore in home loans from 225 offices through an extensive network strength of over 11,000 representatives across the country and to NRIs through its Dubai and Kuwait offices. Sunita Sharma Managing Director & CEO, LIC HFL said I take this day to thank our customers, investors and stakeholders for their trust in us. It has always been our endeavour and pride to offer our easy, accessible, transparent and hassle-free process to our customers. It is indeed a moment of satisfaction to be associated with over 16.8 lakhs happy home owners as our customers over the past 25 years. LIC HFL will continue to extend its steady commitment to nurture more home owners

Future Generali, Punjab & Maharashtra Bank tie up
Future Generali India Insurance, a joint venture between Indias leading retailer Future Group and Italy based global insurance provider Generali, announces its tie up with Punjab & Maharashtra Co-operative Bank, one of the leading multi-state Scheduled Urban Co-operative Bank. The bank presently operates from Maharashtra, Delhi, Karnataka and Goa. The tie-up was officially announced in an event attended by the senior leadership of both companies. From Punjab & Maharashtra Co-operative Bank, K. Joy Thomas Managing Director and H. Krishna Karanth General Manager were present at the event held in Mumbai... Read more

United Bank plans to raise Rs 1,000 cr via QIP
United Bank of India (UBI) plans to raise up to Rs. 1,000 crore through a qualified institutional placement or rights issue this fiscal, according to a media report. This will be in addition to the Rs. 575 crore it aims to raise by issuing equity shares on a preferential basis to the government (Rs. 275 crore) and to the Life Insurance Corporation of India (Rs. 300 crore).

HDFC Life sponsors Hindi movie Hawaa Hawwai
HDFC Life has extended its association with Hindi Film Hawaa Hawaai, directed by Amole Gupte and presented by Fox Star Studios, by sponsoring the education of the 4 children featured in the movie, who come from financially challenged backgrounds. Sanjay Tripathy, Senior Executive Vice President and Head, Marketing, Products, Digital & E-Commerce, HDFC Life said, "As a brand, we have always propagated Independence and Self respect or Sar Utha Ke Jiyo, as a way of life. In line with our brand philosophy, we were very keen to ensure that the 4 children featured in the movie receive quality education and any other vocational or co-curricular training required to help them build a sound foundation. In association with Aseema Charitable Trust, a Mumbai based NGO working for the rights of underprivileged children, are sponsoring the school education of the 4 financially challenged children featured in the movie."

HDFC Life announces launch of Click2Invest - ULIP
HDFC Life, Indias leading life insurance company in online term space announced the launch of Click2Invest - ULIP, a unique online Unit Linked Insurance plan that offers not just financial protection but also a range of investment options. This first of its kind of plan is extremely cost effective as it invests 100% of the premium and only charges fund management fee (1.35%) and a risk premium for mortality cover. On this aspect, it directly competes with ELSS Mutual funds & at the same time retains all the flexibilities offered by ULIPs. Click2Invest offers the choice of eight funds for investment keeping in mind the market outlook, time horizon, and most importantly the needs of the customer... Read more

Reliance Life launches new marketing campaign for Online Term
Reliance Life Insurance Company, part of Reliance Capital Limited, has launched its new marketing campaign with actor Anant Nag and Cyrus Sahukar forits new Online Term plan. Reliance Online Term, launched recently, is one of the most affordable term plans in the market, offering life cover of as high as Rs. 1 crore through a premium of as low as Rs. 15 per day (for a non-smoker 25 year old healthy male and policy term of 15 years). The new marketing campaign aims to increase the popularity of going online to buy life insurance, which can be done within 10 minutes through reliancelife.com... Read more

BigDecisions releases comprehensive Personal Finance Report
BigDecisions, a free online platform that helps retail users make smarter and more informed financial decisions, released its research report based on 15,000 users across India. The data was recorded through three tools Life Insurance, Retirement & Real Estate each providing a comprehensive understanding of respective aspects of financial decision making. The data records were classified into categories along demographics, finances, aspirations and expectations of users. Contrary to popular perception, it is not that the relatively lower and middle-income groups have a greater problem of under-insurance. The current insurance cover does not increase in the same proportion as the increase in income. With higher expense levels the higher income group is at a higher risk... Read more
 

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