Prudential has announced its plan to establish a joint venture with Vama Sundari Investments (Delhi), a HCL Group's Promoter Company, to operate a standalone Indian health insurance business.
Allianz SE has entered into binding share purchase agreements with Bajaj Finserv to sell its 26% stake in its Indian non-life and life insurance joint ventures - Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company - to the Bajaj Group for a total consideration of EUR2.6bn. Allianz may receive the proceeds in several tranches.
India's first private sector reinsurance company is set to commence operations soon.
The Insurance Brokers Association of India (IBAI) has announced the election of Mr Nirmal Bazaz as honorary secretary. Mr Bazaz was elected as director of IBAI in 2023, and he continues to hold the position.
Tata AIA Life Insurance has launched the Shubh Flexi Income Plan, a non-linked, participating life insurance savings plan designed to offer flexible financial security and long-term wealth creation.
India's central bank Reserve Bank of India (RBI) will contribute to the global efforts to mitigate the risks associated with climate change and ensure that the Indian financial system remains resilient.
Prudential has launched its first fully owned facility in the Indian city Bengaluru. This represents a strategic investment in the Indian market.
Brand Finance's latest report has ranked Indian life insurer, Life Insurance Corporation of India (LIC) as the third strongest insurance brand in the world.
The government has announced the opening of applications for the position of chairperson at the Insurance Regulatory and Development Authority of India (IRDAI), as the current chairman, Debasish Panda, is set to conclude his tenure on March 13, 2025.
A survey has revealed that there is a n increasing demand for low-cost health insurance plans among women across India, demonstrating a growing focus on financial security and health awareness.