Insurance Current Affairs - 2019

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Hemant Contractor: New chairman of PFRDA

Former SBI Managing Director, Hemant Contractor, has been chosen to head the Pension Fund Regulatory and Development Authority (PFRDA). The position of Chairman has been vacant for almost a year after the previous Chairman Yogesh Aggarwal resigned over differences with the Finance Ministry regarding the appointment of a member to PFRDA. R.V.Verma, the Finance member, Read More…

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Union Cabinet gives nod to 49% FDI in insurance sector

The Union Cabinet approved the proposal of increasing the Foreign Direct Investment (FDI) limit in the insurance sector to 49% from the existing 26%. The move is in sync with the proposal made by Finance Minister Arun Jaitley in his maiden Budget speech to raise the FDI cap in insurance sector from 26% to 49%. Read More…

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Insurance broking model to be compulsory for banks soon: IRDA

Soon, the Insurance Regulatory and Development Authority (IRDA) may make the broking model for banks compulsory if significant traction is not achieved in Insurance penetration. Data from the IRDA shows that at present, India stands much below the global average of 6.5 % (of GDP) in insurance spread at 3.96 %. As per IRDA, the Read More…

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‘Money Maxima’: A new product by Tata AIA Life launched

Tata AIA Life Insurance launched a product ‘Money Maxima’, a long-term plan which is compliant with new IRDA guidelines.  What is Money Maxima? Money Maxima is a long term plan that offers the dual benefits of both guaranteed and non-guaranteed returns and, therefore, is good value for money. These new offerings also provide additional benefits Read More…

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