SBI
LIC surplus jumps by 10.33% in FY 15
SBI take into service PwC for valuation, IAG supports Deloitte for JV
SBI, SBI General Insurance provide personal accident cover to 7 million
State Bank of India said it has provided personal accident cover to over 7 million of its account holders across the country in association with SBI General Insurance. Read more
LIC cuts stake in 27 Nifty firms; sells shares worth Rs 8000 cr
State-run insurance giant LIC has lowered its holdings in as many as 27 of the 50 blue-chip firms forming the market benchmark index Nifty, while selling shares worth an estimated Rs 8,000 crore. Read more
State Bank of India to focus more on retail loans, primarily auto and housing loans
Due to subdued demand from large corporates in absence of investment activity and higher bad assets in mid corporates, State Bank of India has turned its focus on retail loans, primarily auto and housing loans to grow its asset book. Read more
The LIFE INSURANCE and EET
When the budget for 2006 was presented and passed, people in life insurance industry heaved a sigh of relief that there was no announcement about taxing the claim proceeds of life insurance policies (as well as PPF etc allowed for deduction u/s 80C) according the principle of EET (Exempt, Exempt and Tax) evolved in last budget, even though the EET committee appointed also is understood to have submitted a report in favour of taxing life insurance proceeds! Read more
Insurance : Industry On Growth Path
Indian insurance industry is booming. With the stock market booming and with more disposable incomes in the pockets of young and the employed, life insurance in on an upswing and the industry can expect 40% growth in 2005-06 with the right strategies. Read more