SBI Life Insurance Company share price fell 5.6 percent intraday on November 19 after big block deals at the opening.About 3.3 crore shares (representing 3.4 percent of the total paid-up equity) exchanged hands through several block deals, reported CNBC-TV18.These shares changed hands at an average of Rs 945 per share and these block deals were worth around Rs 3,210 crore.Close Moneycontrol was the first to report on November 18 that private equity firm Carlyle Group has launched a block deal to sell around 3 percent stake in SBI Life Insurance and make a partial exit. related news Suven Life Sciences share price jumps 4% Ujjivan Financial Services share price up 3% as Macquarie raises target price to Rs 325 Morgan Stanley upgrades NTPC, share price gains 3% Carlyle that held 9 percent stake in the company through its investment arm CA Emerald Investments made an impressive 86 percent profit in just eight months since it acquired the stake in March.Life … [Read more...] about SBI Life Insurance share price falls 6% after block deals worth Rs 3,210 cr
Internet life insurance selling made easy
We are comfortable with BFSI (including life insurance, AMC), Consumption stocks though the entry timing needs to be fine-tuned, and PSUs that can also provide good returns in case the Govt gathers the courage to conduct one big strategic divestment at a fast speed, Deepak Jasani, Head - retail research, HDFC Securities, said in an interview with Moneycontrol’s Kshitij Anand.Q) A big bailout package unveiled by the Cabinet on the real estate sector is something which was the need of the hour. Do you think the amount is enough, or the government may have to put in more money to move the needle? Any stocks which are likely to benefit the most from the package?A) The package announced could boost sentiments, kick-start liquidity flow and provide relief to homebuyers, developers and real estate financiers.However, the successful implementation will require close coordination between all stakeholders. There could be a significant challenge in its implementation, considering the … [Read more...] about Life insurers, AMC, Consumption, PSU among 4 themes likely to create wealth
Life insurance sector growth and profits were badly hit by disruption to distribution channels in 2018, and this decline continued through the first half of 2019, KPMG’s Life Insurance Insights – an analysis of financial results over the 18 month period to 30 June 2019 – finds.The industry has also continued to experience declining profitability, with the life risk insurance sector now loss-making in aggregate. In the first half of 2019 the industry made a loss of USD 86 million from risk products, worsening from the essentially breakeven position in 2018, when the industry generated a total profit of just USD 33 million. These results compare to an aggregate industry profit of approximately USD 1.5 billion in 2017.Ordinary risk products continued to be loss making, with the product line reporting a loss of USD 130m across the industry during the first half of 2019, following a loss of USD 341 million in 2018. In the first half of 2019 losses in … [Read more...] about Life Risk Insurance sector now loss-making: KPMG report
Most non-life insurance policies−be it health, personal accident, auto or home−are contracts renewable yearly. Barring a few two- and three-year covers introduced by non-life insurers, most policy holders receive yearly renewal notices for the payment of their premiums to retain their insurance covers. With the advent of technology, it has become a hassle-free act in most cases. All you need to do is to read the text message from your insurer, click on the link given in it, tick the accept term and conditions box and make the payment online. Within a minute or two, the policy document hits your email inbox.Review your renewal notice It is a sacrosanct document, most experts say. It is the base of the contract you are entering into. Do check your name and other details. Check what you are insuring. For example, if you are renewing a personal accident insurance cover, do check the coverage offered for each event−accidental death, total permanent disability and … [Read more...] about Five factors to review before renewing your insurance policy
Most people associate 'accident' with vehicles and the injuries if one is hit by them. But, an accident can be situations such as snake bites, electric shocks, drowning, injury by fire or a fall at home.In May 2019, an Insurance Regulatory and Development Authority (IRDAI) Working Group proposed that home insurance policies must cover accidental deaths due to gas cylinder explosion for a reasonable amount.Almost 4,000 lives are lost every year in India due to gas cylinder or stove blasts. More than a lakh individuals die in road accidents in India every year. The list can go on. Accidents happen and one can’t avoid emotional loss and the trauma arising out those accidents.Close Personal accident insurance policies offer financial protection to the insured person in case of accidental death, or partial or total disabilities arising out of the accident. A personal accident cover accounts for many types of accidents, in addition to those caused by a vehicle hit. related … [Read more...] about Explainer | Personal accident insurance: How does it work?