Policybazaar parent PB Fintech said the proposed changes to insurance distribution economics could make it harder to justify remaining solely a distributor and increase the attractiveness of entering insurance manufacturing, which would allow it to design, underwrite and sell policies. The company said it would wait for more regulatory clarity on the proposal. “I never … Read more
HDFC Life managing director and CEO, Vibha Padalkar, discussed with Shilpy Sinha the industry’s open architecture, protection growth after GST exemption, pricing pressures, margins, capital needs and investment priorities, while calling for regulatory stability. She said competition has driven innovation, but higher costs, weaker persistence and slow growth remain key challenges for the industry. Edited … Read more
Bajaj Finserv (BFL) is entering into the reinsurance business through a wholly owned subsidiary. BFL already has a significant presence in insurance through its 77.33% stakes in Bajaj General Insurance and Bajaj Life Insurance, formerly operated as joint ventures with Allianz. The latest move makes it growing group of private players in India’s reinsurance market, … Read more
ICICI Bank and Prudential Corp. Holdings have signed a letter of undertaking under which the UK insurer will temporarily give up board representation and abstain from voting on matters requiring special resolutions at ICICI Prudential Life Insurance while it pursues the acquisition of a controlling stake in Bharti Life Insurance, according to exchange filings on … Read more
A total of ₹1.1 trillion has changed hands in open-market trades this year (as of 15 April), up 25% from ₹86,810 crore over the same period a year ago. Secondary market sales have continued to keep bookbuilders busy in May: Lenskart Solutions investors sold around 70 million shares at a 3-4% discount in a deal … Read more
UK-based Prudential plc on Sunday said it plans to acquire a 75% stake in Bharti Life Insurance and subsequently cut its holding in ICICI Prudential Life Insurance to 10%, marking a major realignment of its India strategy. The investment is part of Prudential’s “strategic repositioning of its India operations,” the company said in a statement. … Read more
HDFC Life’s board has approved to raise Rs 1,000 cr through a preferential issue of equity shares to its parent, HDFC Bank. Key highlights: Total Allotment: 1,45,23,906 equity shares. Issue Price: Rs 688.52 per share (9% premium to the current price) Stake Increase: HDFC Bank’s holding in HDFC Life will rise from 50.21% to 50.54%. … Read more
The Reserve Bank of India has flagged emerging structural pressures in the insurance sector, warning that premium growth is increasingly being driven by high-cost, distribution-led strategies rather than improvements in operating efficiency, even as the sector remains stable in the near term, according to its latest Financial Stability Report.“While posing no near-term systemic risks, the … Read more