Sector: Insurance
Something seems to be wrong with ICICI Lombard
I have a ICICI Lombard Car insurance policy coming up for renewal. and here is my experience – Tried renewing it on ICICI Lombard’s website and it was just not responding. I tried for straight two days. Tried to do it on Coverfox – ICICI Lomard’s quoted premium was 3x of others I didn’t bother … Read more
ICICI Lombard launches BeFit cashless OPD and wellness solution to users
ICICI Lombard has launched BeFit,  a service provided through its ILTakeCare app that gives customers benefits of complete OPD services—that is, doctor consultation, pharmacy, diagnostics services, etc.—on a cashless basis. “The solution empowers customers to benefit from a host of wellness services. As good health and immunity gain importance, this comprehensive solution will come in … Read more
HDFC Life at strong support levels
HDFC Life has been an under performer for last 2 years – in October 2019 it reached a high of Rs 644 and is currently trading at a price of about Rs 690. There are multiple reasons for the underperformance including Covid related concerns on the life insurance business as well as factors specific to … Read more
Like in HDFC Life, Standard Life continues to pare it’s stake in HDFC AMC
Standard Life has sold 5% of HDFC Asset Management Company (HAMC) for Rs 3,061 crore. Key points to note – Standard has been a relentless seller in both HAMC as well as HDFC Life Insurance Company (HLIC). In HLIC, it reduced it’s stake from 29.28% in September 2018 to 3.89% in June 2021, whereas in … Read more
lic: Indian law firms reluctant to advise on IPO of insurance giant LIC: Sources
India’s plans to list state-run Life Insurance Corporation (LIC) face an unusual problem: domestic law firms are shying away from advising the government, deterred by the low fees on offer at the time of a lucrative boom in corporate stock listings. With millions of policyholders and a share of 66% of new premium collections in … Read more
IRDAI grants final approval to ICICI Lombard – Bharti AXA general insurance merger deal
The two companies had announced the proposed merger on August 21, 2021. The in principle approval for the merger came from Insurance Regulatory and Development Authority of India (IRDAI) in November 2020 and now on September 3, 2021, Lombard informed about the receipt of the final approval from the regulator. Key points to note – … Read more
ICICI Bank gets IRDAI approval to reduce stake in ICICI Lombard
As at June 30, 2021, ICICI Bank held 51.87% of the equity stake in ICICI Lombard – the general insurance business. On September 3, 2021, ICICI Lombard informed the exchanges about receipt of approval from Insurance Regulatory and Development Authority of India (IRDAI) for ICICI Bank to reduce the stake in Lombard to 30%. The … Read more