Jammu and Kashmir Bank holds 5 percent stake in the insurance venture.
The insurance company has been talking about an IPO since 2016. The issue is necessitated by the American financial services major and its partner Metlife Inc's plans to exit the company.
The insurer, which had approached the regulator in July seeking its clearance to launch IPO, obtained Sebi's "observations" on November 2, as per the latest update with the market watchdog.
Sources told Moneycontrol that the IPO could be of around Rs 2800 crore with the company being valued at Rs 11,000 crore.
Sectors that are likely to gain traction in FY19 include IT, consumption-focused sectors, high-quality infrastructure, and construction companies and Pharma.
Private sector PNB MetLife today launched 'Dr Jeevan', an Artificial Intelligence powered interactive chatbot solution on Facebook Messenger platform.
Going into 2017, we expect the ongoing volatility to continue for some time now. On the macro front, temporary disruption in cash transactions due to demonetisation is likely to hurt domestic demand for a couple of quarters, especially for discretionary items.
India‘s GDP growth has improved from 5.6% in FY13 to 7.6% in FY16 led by resilient consumption demand and higher government spending amid weak private-sector investments.
India is relatively better placed compared to the broader emerging market pack. The Indian economy has seen significant improvement over last few years.
Life insurance firm PNB MetLife is expecting 30 per cent growth in first premium income during the current financial year, a senior company official said today.
The Corporation had set a target of Rs 31,000 crore of new premium income this fiscal year and its Chairman SK Roy said the optimism comes from the fact that the Corporation has been witnessing growth in sales since December
After the government passed legislation to allow foreign insurers to increase their stake in Indian insurance companies up to 49 percent, MetLife will up its stake in the PNB MetLife joint venture to the maximum allowed threshold.
J&K Bank has started the process to sell its 5.3 percent stake in PNB MetLife and is looking at a valuation of about Rs 700 crore, chairman and CEO Mushtaq Ahmad told CNBC-TV18 in an interview.
Currently, over 78-80% of health care expenses are funded by the Indians out of their own pocket and this move of increasing tax benefits for health insurance will encourage people to increase their coverage.
The most crucial recommendation which has been raised over the years is to increase tax benefits around long-term savings to spur demand for life insurance products.
In recent years, the insurance sector in India has given us some brilliant television commercials. It is now time to highlight some of the best ones.