Of the Rs 3,392.93 crore of Max Life’s individual (retail) premium for 9MFY20, banks accounted Rs 2,106.06 crore. This means that 62 percent of the business came from banks. In the overall business, Axis Bank accounts for 55 percent of the business while other banks account for 12 percent (as of December quarter). … [Read more...] about Will Max Life Insurance, and Amitabh Chaudhry, be second time lucky?
Liability small business insurance
Facing difficulties in making recoveries from exporters, SBI Chairman Rajnish Kumar on Thursday called for changing the way export finances are done and suggested that enhancing the insurance coverage to 90% can help reduce exporters' cost and boost their business. … [Read more...] about Raising insurance coverage to 90% to help cut exporters’ cost: SBI chief
Amitabh Chaudhry, MD and CEO, Axis Bank, said, “At the Bank, we constantly keep assessing various strategic opportunities and we see a potential for greater participation in the under-penetrated life insurance space. We have had a long standing bancassurance relationship with Max Life and the on-going discussions are a step further to deepen and strengthen this strategic partnership.” … [Read more...] about Axis Bank to explore long-term strategic partnership with Max Financial, Max Life
LIC has supported the market by buying shares during sell-offs and disinvestment offers. Therefore, governments kept away from listing the insurer due to its perceived role. LIC also has huge investments in debentures and bonds (Rs 434,959 crore), besides providing funding for many infrastructure projects (Rs 376,097 crore as of March 2018), according to its Annual Report for 2017-18, cited by the daily. … [Read more...] about LIC public listing back on govt agenda; may overtake RIL, TCS m-cap once listed: Report
The Supreme Court, last week, rejected a plea by companies such as Bharti Airtel and Vodafone Idea for extension in the payment schedule and asked all of them to deposit an estimated Rs 1.47 lakh crore in past dues for spectrum and licences. It threatened to initiate contempt proceedings against top executives of these firms for non-payment. … [Read more...] about Sunil Mittal, KM Birla meet FM Sitharaman as AGR crisis looms over telecom sector