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  • S Gopakumar joins United India Insurance as Director and General Manager Aug 07, 2018 03:42 PM IST

    S Gopakumar joins United India Insurance as Director and General Manager

    Prior to taking up the new role, Gopakumar was serving GIC Housing Finance Ltd as its Managing Director and Chief Executive Officer

  • 3 PSU non-life insurance cos to meet on Feb 16 on merger Feb 13, 2018 06:52 PM IST

    3 PSU non-life insurance cos to meet on Feb 16 on merger

    The government has proposed in the Budget to merge National Insurance Company, United India Insurance and Oriental Insurance Company into one.

  • National Insurance Co plans IPO in Q4 Jul 06, 2017 08:35 AM IST

    National Insurance Co plans IPO in Q4

    Despite this, the general insurer reported a net profit of Rs 49 crore for fiscal 2017, massively down from Rs 151 crore in the previous fiscal and Kumar blamed it on higher provisioning towards liabilities.

  • IRDAI terminates actuary's membership for NIC wrongdoings Jun 04, 2017 02:38 PM IST

    IRDAI terminates actuary's membership for NIC wrongdoings

    The Insurance Regulatory and Development Authority of India (IRDAI) has terminated the membership of an actuary of state-owned non-life insurer National Insurance Company (NIC) for alleged wrongdoings.

  • National Insurance Co to raise Rs 800cr via subordinated debt Feb 22, 2017 07:34 PM IST

    National Insurance Co to raise Rs 800cr via subordinated debt

    In a bid to achieve the required solvency margin of 1.5, state-run National Insurance Company is set to raise Rs 800 crore through subordinated debt in near future, a top company official said today.

  • Industry,analysts welcome listing plan of PSU general insurers Jan 18, 2017 09:00 PM IST

    Industry,analysts welcome listing plan of PSU general insurers

    The general insurance industry and analysts today welcomed the government decision to take the five state-owned companies public, saying it will help unleash the value potential of the sector apart from forcing the private players to follow suit.

  • Govt to sell 25% stake in general insurance companies: Jaitley Jan 18, 2017 02:52 PM IST

    Govt to sell 25% stake in general insurance companies: Jaitley

    The Cabinet on Wednesday approved plans to divest a 25 percent stake in each of the five fully-owned public sector general insurance companies by listing these on stock exchanges.

  • Expect profit to rise 10% this fiscal: NIC Mar 09, 2016 08:02 AM IST

    Expect profit to rise 10% this fiscal: NIC

    "This year, as capital markets remained weak, investment income will remain under pressure. However, we are expecting expecting 8-10 percent rise in profits," NIC's Chairman and Managing Director K Sanath Kumar said here today during his first interaction with media after taking over as head of the city-based insurance PSU.

  • NIC eyes 10% rise in premium income this fiscal: CMD Sep 09, 2015 07:04 PM IST

    NIC eyes 10% rise in premium income this fiscal: CMD

    "Taking into view the current market dynamics, the expected growth for the industry is in the range of 12-13 percent. We are eyeing a growth of 10 percent to Rs 12,375 crore in FY16," Rajesh Aggarwal, Joint Secretary in the Finance Ministry, who has been given the additional charge as the Chairman and Managing Director of NIC, told PTI.

  • General insurers to challenge Rs 671-crore CCI penalty Jul 17, 2015 01:19 PM IST

    General insurers to challenge Rs 671-crore CCI penalty

    State-owned non-life insurers are "surprised" at the Rs 671-crore penalty that fair trade watchdog CCI on Thursday slapped on them for allegedly forming a cartel and rigging the tender floated by Kerala government to select insurance provider for Rashtriya Swasthya Bima Yojna.

  • General insurers to challenge Rs 671-crore CCI penalty Jul 16, 2015 09:26 PM IST

    General insurers to challenge Rs 671-crore CCI penalty

    State-owned non-life insurers are "surprised" at the Rs 671-crore penalty that fair trade watchdog CCI today slapped on them for allegedly forming a cartel and rigging the tender floated by Kerala government to select insurance provider for Rashtriya Swasthya Bima Yojna.

  • LIC stake in Axis Bank crosses 10% Jan 22, 2014 04:26 PM IST

    LIC stake in Axis Bank crosses 10%

    LIC, one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1 percent of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014. The total number of shares of Axis Bank with LIC have risen to 4.9 crore.

  • ICICI Lombard bags contract for Goa's health insurance Jun 13, 2011 04:48 PM IST

    ICICI Lombard bags contract for Goa's health insurance

    ICICI Lombard, a health insurance company, won the bid for the state-financed health insurance scheme in Goa, by surpassing six other bidders, state Health Minister Vishwajit Rane announced today.

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