The government aims to complete merger of three state-owned general insurance companies — National Insurance Co Ltd, United India Insurance Co Ltd, and Oriental Insurance Co Ltd — by the end of March...
LIC staff protest move to sell stake
Nearly one lakh employees of LIC staged an hour-long walk-out on Tuesday against the government’s decision to sell a part of its stake in the life insurance major through an initial public offering. There are 13...
Divestment to help both LIC, government: Jayant Sinha
BJP MP and former union finance minister Jayant Sinha on Sunday said disinvestment of the Life Insurance Corporation as proposed in the Union budget would be beneficial for both the central government and the LIC. The...
Faering, A91 lead funding round in insurance distributor Go Digit
Insurance distribution firm Go Digit Insurance has raised $80 million in an equity funding round led by private equity funds Faering Capital, TVS Capital and A91 Partners, it said on Monday. The round values three-year...
NIC board approves merger proposal with two other insurers: Officials
State-owned non-life insurer National Insurance Company Ltd has approved its merger with Oriental Insurance Company Ltd and United India Insurance Company Ltd, trade union officials said on Monday. A hurriedly-convened...
Ashish Kacholia, Mukul Agrawal pick up stake in Religare
Shares of Religare Enterprises rallied nearly 5 per cent on Monday after value investor Ashish Kacholia and Mukul Agrawal bought stake in the company. Kacholia picked up 40 lakhs shares while Agrawal bought 26 lakh...
Sachin Bansal buys DHFL Gen Insurance
Flipkart co-founder Sachin Bansal has acquired DHFL General Insurance from Wadhawan Global Capital (WGC) for around Rs. 100 crore, people in the know of the deal said. The transaction is seen as a distress sale for WGC...
Apollo Hospitals gets nod to exit insurance business, shares soar
Shares of Apollo Hospitals Enterprise Ltd surged on Thursday after the insurance regulator approved the hospitals group’s sale of 50.8% stake in its health insurance venture to Housing Development Finance Corp. Ltd...
Irdai restores Reliance Capital’s 100% shareholding in Reliance General Insurance
Reliance Capital on Sunday said the Insurance Regulatory and Development Authority of India has cancelled pledge enforcement of Reliance General Insurance Company Ltd’s (RGICL) shares by Credit Suisse and Nippon...
Intesa buys controlling stake in health insurer RBM for 300 million euros
Intesa Sanpaolo said on Friday it had agreed to buy a controlling stake in family-owned health insurer RBM for 300 million euros. Italy’s biggest bank by number of branches has been working on growing its insurance...
LIC finalising plan to cut stake in UTI AMC
Public sector financial institution Life Insurance Corporation of India is shaping up its plan to go for over 40% reduction in its stake in UTI Asset Management Company(UTI AMC). The process has been initiated following...
CCI approves stake buy in SBI General Insurance by Napean Opportunities, Honey Wheat
The Competition Commission of India (CCI) on Friday approved the acquisition of stake in SBI General Insurance Company Ltd by Napean Opportunities LLP and Honey Wheat Investment Ltd, according to a CCI press release...
