Bill Coen appointed chair of the IFRS Advisory Council

International News       Feb 11, 2020

  London: The Trustees of the IFRS Foundation have appointed Bill Coen as Chair of the IFRS Advisory Council, effective immediately.   The Advisory Council supports the Trustees by providing strategic advice. Coen has been appointed to chair the Council and consider how to improve its effectiveness.  ...

Govt mulls to amend PFRDA Act; to separate it from NPS Trust: FM Sitharaman

Indian News       Feb 01, 2020

New Delhi: Finance Minister Nirmala Sitharaman has proposed to make amendments for separation of government pension trust from the PFRDA to strengthen the pension fund regulatory body.   "Necessary amendments would be carried out in the Pension Fund Regulatory and Development Authority Act. It will also...

Insurers want higher FDI and more tax incentives in the Budget 2020

Indian News       Jan 22, 2020

  Mumbai:  In a bid to facilitate higher and faster growth, the domestic insurance industry wants union finance minister Nirmala Sitharaman to provide more tax incentives and higher foreign direct investment(FDI) in the forthcoming Budget,to be presented by her  on Feb 1,for  the sector   ``We request...

Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance

``Industry should focus on product innovations, especially in the pension space''

Interviews       Jan 14, 2020

  Govt has formed a high level panel under IRDA chairman SC Khuntia to bring about wide ranging fresh set of reforms in the Indian insurance sector? What are you suggestions to the panel on reforms required for the Indian insurance industry? IRDAI is constantly bringing...

Ritu Nanda

Ritu Nanda passes away,holds a record for selling 17,000 LIC pension plans in a day

Indian News       Jan 14, 2020

  NEW DELHI : Late actor and director Raj Kapoor's daughter Ritu Nanda, who succumbed to cancer today, was one of the top insurance agents for the Life Insurance Corporation of India (LIC) for selling the most number of policies in a short span of time.  ...

LIC's P&G Scheme achieves a record Rs 1 trillion prm income 

Indian News       Jan 07, 2020

  Mumbai: LIC Pension and Group Schemes Vertical, looking after Group Schemes and Superannuation business of the Corporation created a new record by clocking more than Rs 1 trillion premium Income during the current FY 2019 – 20.   This is first time ever any single vertical...

600,000 pensioners to gain as EPFO's commutation come into play on Jan 1

Indian News       Dec 27, 2019

New Delhi: The labour ministry will enforce the retirement fund body EPFO's decision to restore pension commutation, or advance part-withdrawal, under the Employees' Pension Scheme from January 1, 2020, a move which will benefit 630,000 pensioners, a source said.   These 630,000 pensioners had opted for...

Supratim Bandyopadhyay, Member (Finance). PFRDA.

Govt plans to make PFRDA sole regulator for the pension products

Indian News       Dec 20, 2019

  Mumbai: The government is currently working out on amendments to the existing PFRDA Act,which amog host of changes, will make the Pension Fund Regulatory and Development Authority (PFRDA), the sole regulator of pension products in the country.   Currently, pension funds, that are sold by the...

Climate change has a significant impact on the liabilities of non-life insurers and reinsurers:EIOPA

International News       Dec 19, 2019

  While the European insurance sector remains overall well capitalized with a median Solvency ratio of 212 per cent, significant disparities remain across undertakings and countries. Overall solvency positions have also deteriorated in the first half of 2019 and the low interest rate environment is expected...

UK pension insurance deals jump to record $50 billion in 2019, more in pipeline - advisers

International News       Dec 17, 2019

  LONDON:- The UK bulk annuity market, which involves insurers taking on the risk of company pension schemes, has soared to record levels above 40 billion pounds ($51 billion) in 2019 and is expected to stay strong as costs fall, advisers said.   Bulk annuities have proved...

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