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LIC’s banking bid hits a hurdle
Posted: March 9th, 2010, 3:14pm EST
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Life Insurance Corporation’s (LIC) plans to float a bank has hit a hurdle after the insurance regulator IRDA refused it permission to use policyholders’ funds for setting up a subsidiary. -
IRDA whip against pyramid schemes
Posted: March 9th, 2010, 2:59pm EST
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In a bid to crackdown on pyramid schemes, the insurance regulator has barred companies that do not have a substantial customer base of their own from becoming corporate agents. -
LIC expects Rs.176,000 crore premium income this fiscal
Posted: March 7th, 2010, 9:50am EST
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The company's income from its real estate business is Rs.200-300 crore in the current fiscal, which would increase in the coming years. How to invest in 2010
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Insurance cos' popularity depends on customer service
Posted: March 5th, 2010, 2:30pm EST
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Popularity of an insurance firm in India depends more on its customer service as compared to the products it sells, as per a report by advisory firm Grant Thornton. -
Tatas studying AIG's Asia ops sale to Prudential
Posted: March 2nd, 2010, 10:22am EST
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Tatas studying AIG's Asia ops sale to Prudential -
Mixed bag for non-life cos
Posted: March 1st, 2010, 1:30pm EST
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While the government has rolled back its decision to tax unrealised gains on investments it has decided to impose withholding tax on all cross border payments.
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Health insurance costs set to soar
Posted: March 1st, 2010, 1:30pm EST
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Health insurance costs are set to soar with the government deciding to impose service tax on payments made by insurance companies to hospitals in settlement of claims where policyholders had received cashless service.
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Hidden gems for life insurance policyholders, agents
Posted: March 1st, 2010, 1:30pm EST
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Last year a provision to impose service tax on all charges levied by life insurers on ULIP policyholders has been reworked so that service tax is now applied only on fund management charges.
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Union Budget 2010: Health insurance costs set to go up
Posted: February 26th, 2010, 7:24am EST
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Health insurance costs are set to soar with govt deciding to impose service tax on payments made by insurance cos to hospitals in settlement of claims.
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Union Budget 2010: Hidden gems for policyholders, insurance agents
Posted: February 26th, 2010, 5:43am EST
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Life insurance agents can rejoice as the government has now raised the limit for exemption from tax deduction at source to Rs 20,000 from Rs 5,000 earlier.