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Currently, Sundaram Finance holds 75.90 percent in Royal Sundaram and proposes to divest 25.90 percent, thereby retaining 50 percent of its holding post the divestment.
Insurance Regulatory and Development Authority of India (IRDAI) has proposed an almost 50 percent rise in motor third party premiums for retail segment and for commercial vehicles and heavy vehicles
Union budget is expected to continue reforms process initiated in the last budget. Forthcoming budget should take small steps such as removing service tax on health insurance premium, increasing deduction limit under section 80D to increase penetration of 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.
Insurance Regulatory and Development Authority (IRDA)will come out with guidelines for mergers and acquisition for the industry over the next two-three months while the IPO norms will be out in the next 15-20 days, a senior official said today.
The Insurance Regulatory and Development Authority of India (IRDA) has given an unofficial nod for the Reliance General Insurance and Royal Sundaram merger, reports CNBC-TV18 quoting sources.
