Life insurance firms reported an increase of about 27 percent in its new premium collection in February at Rs 13,698.52 crore, data from insurance regulator Irdai showed.
SBI Life Insurance Co said Sanjeev Nautiyal has been nominated as its next MD and CEO.
On standalone basis, net profit plunged to Rs 1,582 crore from Rs 2,538.32 crore a year ago.
Recent sale of stake by Indian banks in their insurance business would help in dealing with the issue of their NPAs, or bad loans, and improve balance sheets.
Indian market continue the losing streak, fell more than 1% last week as slowing economic growth and absence of any positive cues took its toll. Key events:
The Securities Appellate Tribunal (SAT) has to decide on the refund of around Rs 275 crore to policy holders.
India's SBI Life Insurance Co Ltd, a unit of State Bank of India, filed for an initial public offering of shares that bankers have said could raise more than $1 billion.
The IPO market is heading for a heavy rush with big names including UTI Mutual Fund and SBI Life expected to launch their IPOs amounting to Rs 20,000 cr.
SBI said it plans to dilute 10 per cent of its stake in the life insurance venture SBI Life through public offer.
SBI Life Insurance aims to achieve a growth of Rs one lakh crore in its assets and management business towards the end of this year.
Blackstone to buy 80% in Pune mall for Rs 310 Cr
Blackstone Group is set to buy an 80% majority stake in Nitesh Hub
Remaining stake in the mall will remain with Nitesh Estates
Eyes palm oil business and may join race to acquire Ruchi Soya
Godrej Agrovet is yet to formally approach Ruchi Soya on the same
ITC , Patanjali Ayurved and Emami are other cos which have shown interest
SC upholds sale of hotel property of Blue Coast Hotels by co
Earlier, Bombay HC had set aside the sale
SC sets aside Bombay HC ruling
SC allows IFCI to retain sale proceeds of Rs 515.4 cr
Gets USFDA nod for ANDA for Metformin Extended Release tablets
Gets approvals for drugs of strength 500 mg, 750 mg
Approved ANDA bioequivalent of Glucophage XR of Bristol Myers Squibb
Co eyes to commercialise product soon
Gets Shareholders' Nod for sale of equity shares of unit Hypercity Retail
FPI limit under Portfolio Investment Scheme increased from 24% to 49%