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Financial inclusion providing entire range of banking services: SBI chief

Financial inclusion Arundhati Bhattacharya said has four key aspects -- accessibility, affordability, quality and usability
Finance

Financial inclusion providing entire range of banking services: SBI chief

Financial inclusion Arundhati Bhattacharya said has four key aspects -- accessibility, affordability, quality and usability

Canara HSBC Oriental Life eyes Rs 850 cr in new business premium

With high growth in the past two financial years, Canara HSBC Oriental Life Insurance is targeting 40-50 per cent increase in 2017-18 in new business premium. The target is Rs 850 crore and the hope is for as much as Rs 1,000 crore, said Anuj Mathur, chief ex
Finance

Canara HSBC Oriental Life eyes Rs 850 cr in new business premium

With high growth in the past two financial years, Canara HSBC Oriental Life Insurance is targeting 40-50 per cent increase in 2017-18 in new business premium. The target is Rs 850 crore and the hope is for as much as Rs 1,000 crore, said Anuj Mathur, chief executive officer.The company has booked profit over Rs 100 crore annually for three 3 years, with its bancassurance (banks as partners) model. Those with a predominant share of this route incur much lower cost, as they do not have to invest in building infrastructure for an agency network. "Hence, we achieved an early break-even and are generating profits," said Mathur. Insurers growing in excess of 30-40 per cent yearly are all backed by bancassurance, he said.At present, the company is well capitalised, with a strong solvency ratio of 400 per cent against the sectoral standard of 150 per cent, and overall persistency of 83 per cent. The company might think of listing its business on the bourses in three or four years, if the ...

Use part of forex reserves to spur growth: Deutsche Bank to govt

According to the global financial services major, forex reserves could be used for funding growth-critical public infrastructure projects and the macro backdrop is also suitable for this
Finance

Use part of forex reserves to spur growth: Deutsche Bank to govt

According to the global financial services major, forex reserves could be used for funding growth-critical public infrastructure projects and the macro backdrop is also suitable for this

Theleme Master sells BoB shares worth Rs 1,115 cr through open transaction

The shares were offloaded on an average price of Rs 147.06, valuing the transaction at Rs 1,114.97 crore, data showed
Finance

Theleme Master sells BoB shares worth Rs 1,115 cr through open transaction

The shares were offloaded on an average price of Rs 147.06, valuing the transaction at Rs 1,114.97 crore, data showed

General insurance companies see brisk rise in investments: Irdai data

Backed by a healthy growth in sectors like motor and health insurance, investments of non-life insurance companies rose by around 128 per cent in the last five years. A majority of the investments got channelized into government securities. According to data
Finance

General insurance companies see brisk rise in investments: Irdai data

Backed by a healthy growth in sectors like motor and health insurance, investments of non-life insurance companies rose by around 128 per cent in the last five years. A majority of the investments got channelized into government securities. According to data from Insurance Regulatory and Development Authority of India (IRDAI), total investments of non-life insurance companies as on 31st March 2016 stood at around Rs 188126 crore, against Rs 82520 crore as on 31st March 2011, a growth of around 128 per cent. Further, in 2017, the premium collected on account of crop insurance scheme is likely to significantly add to the investable pool of non-life insurers. Informal estimates suggest, total premium collected from the first year of operation of Prime Minister Fasal Bima Yojna (PMFBY), launched in February 2016, is expected to be around Rs 22000 crore. According to Sanjay Datta, chief underwriting & claims, ICICI Lombard General Insurance, much of the growth of growth of non-life ...

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