Max Financial Services Limited, the holding company of Max Life, and Axis Bank had first announced their intent to bring in the latter as a strategic partner in Max Life in February 2020.

Digit Insurance, ICICI Lombard General Insurance, Edelweiss General Insurance, Bharti Axa General Insurance, TATA AIG General Insurance and Bajaj Allianz General Insurance, etc had received IRDA approval for pay-as-you-go policy under sandboxing

FM Sitharaman, while moving the bill for consideration and passage, said that expanding the FDI limit in the insurance sector to 74% was necessary as it will help insurers deal with matters regarding financial stress

The government has already proposed increasing the capital base of LIC from the existing Rs 100 crore to Rs 25,000 crore

ICICI Lombard said it will pay the interim dividend to those shareholders whose names appear in the record of the company/depository as on March 19, 2021

The policyholders can now make complaints electronically to ombudsman and a complaints management system will be created to enable policyholders to track the status of their complaints online.

United India Insurance Company Ltd (UIICL), one of the promoters of Axis Bank, had requested the bank through a letter dated February 26, 2021 to reclassify the insurer to public category from promoter category

Gaining for the second straight day, Axis Bank shares traded 3.11% away from 52 week high of Rs 800. The stock has touched a 52-week low of Rs 285

Stock Market News Updates Today: Sectorally, all the other indices were trading with decent gains. Metal index was up 2.5%, while private, PSU Bank and financial indices rose 1.5% to 2% today

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Axis Entities have the right to acquire an additional stake of up to 7 per cent in Max Life, in one or more tranches, which they intend to acquire over the course of the next few years.

The plan offers guaranteed addition at the rate of Rs 50 per 1,000 basic sum assured (or 5 per cent) at the end of each policy year.

The regulator has reasoned that the step will not only bring down the cost but also help speed up claim settlement process

Despite lacking any license or registration to sell insurance policy of any kind, Bangalore-based Digital National Motor Insurance has been selling insurance policies, IRDAI said

Edelweiss Tokio, PNB MetLife and Exide Life Insurance have already launched the plan, while Aegon Life Insurance, SBI Life Insurance and others are in the process of launching it

The Saral Pension policy can be surrendered any time after six months from the date of commencement, if the annuitant or the spouse or any of the children of the annuitant is diagnosed as suffering from any of the critical illnesses specified in the policy document

The company has begun export of 5th generation Honda City sedan with the dispatch of initial batch to the Middle East countries from the Pipavav port in Gujarat and Ennore port in Chennai, Honda Cars India Ltd (HCIL) said in a statement

Currently, the consumer redressal system in the country is overseen by the sectoral regulators like Reserve Bank of India (RBI) in case of banks and Insurance Regulatory and Development Authority of India (IRDAI) in case of insurance grievances

The Insurance Regulatory and Development Authority of India (Irdai) had issued MISP guidelines in 2017 with the intention of streamlining the process and bringing the practices of vehicle insurance, being sold by automotive dealers under the provisions of the Insurance Act, 1938

As per the combination notice filed with CCI, the shareholding of Axis Bank in Max Life will increase to approximately 9.9 per cent