Tag: IRDA

SBI Life Insurance to appeal against IRDA order of Rs 275 crore refund

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SBI Life Insurance to appeal against IRDA order of Rs 275 crore refundNews from Economic Times: Prices | Financials | Company Info | Reports MUMBAI: Private sector life insurer SBI Life Insurance will appeal against the … Read the full article . . . _______________________________________________

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New norms for traditional life insurance products soon: IRDA chief

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New norms for traditional life insurance products soon: IRDA chiefNews from Hindu Business Line: Mr J. Hari Narayan, Chairman, IRDA. The regulator sees lack of clarity in certain class of products Hyderabad, July 19:  The insurance regulator has formed a joint working group with Life Insurance Council on norms for traditional products. “The group has [...]

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Life insurance sale must be need based, says IRDA

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Life insurance sale must be need based, says IRDANews from Hindu Business Line: Hyderabad, Jan. 31:  The sale of life insurance policies are set to become more scientific soon. The life insurers should ensure a need-based sale of life insurance products by their direct sales personnel, the Insurance Regulatory and Development Authority said in the [...]

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Irda brings insurance closer to public in 2011

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Irda brings insurance closer to public in 2011News from Economic Times: Insurance policyholders will remember the year 2011 for the series of small steps taken by the Insurance Regulatory and Development Authority (IRDA) to protect their interests. The measures may not have had the course-altering stature of the September 2010 Ulip charge cap, but they [...]

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Irda may let promoters offload their stake early

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Irda may let promoters offload their stake early News from Livemint: Mumbai/New Delhi: India’s Insurance Regulatory and Development Authority (Irda) will soon allow promoters of life insurance firms, holding at least 26% stake, to sell strategic stake after five years of obtaining a licence, instead of the present holding period of 10 years. The authority [...]

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IRDA Hints At Obligatory Listing For Life Insurance Firms

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IRDA Hints At Obligatory Listing For Life Insurance Firms News from News Tonight: Insurance controller IRDA stated that it is mulling over making it obligatory for insurance firms to go public, even though the concluding IPO rules are still awaited and the majority of players are not desperate to hit the market. On the sidelines [...]

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IRDA slaps Rs 70L fine on SBI Life

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IRDA slaps Rs 70L fine on SBI Life News from Times of India:MUMBAI: SBI Life Insurance, the country’s largest new generation life insurer and a subsidiary of State Bank of India, has been fined Rs 70 lakh by the insurance regulator for making unauthorized payments up to Rs 204 crore to various banks, including Rs [...]

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IRDA imposes fine of Rs 70 lakh on SBI Life Insurance

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IRDA imposes fine of Rs 70 lakh on SBI Life Insurance News from Economic Times:CHENNAI: The Insurance Regulatory and Development Authority (IRDA) has imposed a fine of Rs 70,00,000 on SBI Life Insurance company for paying around Rs.204 crore to eight of its corporate agents and six master policyholders, far in excess of the stipulated [...]

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