Prudential announced yesterdaythat it is evaluating a potential listing of ICICI Prudential Asset Management involving the partial divestment of its shares, subject to market conditions, requisite approvals and other considerations. It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders.
Howden India has appointed Mr Nagarajan Girishankar as chair - reinsurance, a special designation. In his new role, he will propel Howden's marine, power and energy and property verticals.
Health insurance's share in the non-life segment is set to surpass other categories put together as the sector continues to expand, reported Times of India.
TATA AIA Life Insurance has introduced the Smart Pension Secure Plan, an innovative unit-linked pension plan (ULIP) designed to meet the evolving retirement needs of modern professionals and digital-savvy consumers.
Listed state-controlled reinsurer GIC Re has received in-principle approval from its board of directors to establish a wholly owned subsidiary in the United Kingdom.
India's gig economy is expected to grow at a compounded annual growth rate of 17% to reach a gross volume of $455bn by 2024-25, with the potential to add 1.25% to GDP by 2030 and create 90m jobs in the long term. The country's gig economy currently supports sectors such as e-commerce, transportation, and delivery services.
India has proposed to allow 100% foreign direct investment (FDI) in the insurance sector up from the current 74% on the condition that the foreign firms would invest the entire premium collected in India.
Private life insurer, HDFC Life in its latest campaign emphasises on how parental teachings serve as a guiding compass for children in an ever-changing world, helping them navigate uncertainties with confidence and integrity.
SBI General Insurance has reported a profit after tax of INR504 crore ($5.8bn), reflecting a year-on-year (y-o-y) growth of 273%.
Aon has launched its life and health (L&H) reinsurance practice in India with the appointments of Ms Neha Shah as chief actuary and Ms Renuka Nar as head of broking.