Venkatachalam will take over from incumbent Naveen Tahilyani, who moves to another role in Tata Group but will continue as a non-executive director of the insurance company.
Tata AIA Life Insurance Co. Ltd., one of the top life insurance providers in India, today announced a strategic partnership with City Union Bank (CUB) to provide life and health insurance options to the Bank's clients.
"As of now, we serve nine insurance companies, including eight life insurers, here. We are planning to take this to over 20 by December," chief executive and co-founder of Aureus Analytics, Anurag Shah told PTI here.
An earlier petition filed by Cyrus Mistry against Tata Sons in the National Company Law Tribunal (NCLT) had given details of Tata AIA Life buying majority stake in PNB MetLife Insurance
Besides, the proposal of Yes Bank to hike foreign investment limit to 74 percent from existing 41.87 percent without any sub-limits has been referred to the Cabinet Committee on Economic Affairs (CCEA).
According to the audit, many insurance companies wrongfully availed of the central value-added tax (CENVAT) scheme to avoid taxes on certain services.
Life Insurance Council (LIC), an industry association, has suggested that a bank should be allowed to sell products of five different insurers.
Insurance regulator IRDA on Monday said it is examining the allegations of money laundering levelled against LIC, Reliance Life, Tata AIA and Birla Sun Life and assured that action will be taken against the guilty at the earliest.
In an interview to CNBC-TV18, personal finance expert, Hemant Rustagi of Wiseinvest Advisors shared insights on hybrid funds.