Insurance Exams ( LIC_NICL_GIC_NIACL_UIIC)

Insurance Awareness CA (January 2023)
SBM Bank India Raises Rs 99 Cr from LIC Via Tier II Bonds’ Issuance

SBM Bank (India) has raised Rs 99 crore through the issuance of the second tranche of Basel-III compliant tier II bonds in January 2023. The bank has raised the entire corpus from Life Insurance Corporation (LIC).
With this fresh round of capital raising from multiple investors, SBM Bank India now has raised a total of Rs 224 crore to date through Basel III compliant tier II bonds.

ETFs HDFC Life policyholders can now pay premiums with NPCI’s UPI 123PAY

HDFC Life and National Payments Corporation of India (NPCI) have collaborated to offer a first - UPI 123PAY. This is a unique voice-based premium payment service that further simplifies the premium payment process for HDFC Life policyholders.
UPI 123PAY is a payment facility through a pre-defined IVR (Interactive Voice Response). This platform will enable customers to make financial transactions with or without an internet connection. Customers can avail this service in various regional languages such as Hindi, Marathi, Gujarati, Punjabi, Kannada, Tamil, etc.

Pay EMIs of borrowers when hospitalized

Niva Bupa Health Insurance has come together with Swara Fincare Limited, to offer a protection plan called Niva Bupa Xpress Health – Serious Illness Plan.
The product will be offered to Swara Fincare’s customers during the loan disbursement process.
As part of the product benefit, Niva Bupa will cover up to 3 EMIs in a policy year of the respective customer in case of hospitalization for a period of 5 days or more.

Niva Bupa Health Insurance & Sundaram Finance Corporate agency agreement

Niva Bupa Health Insurance Company Limited has signed a corporate agency agreement with Sundaram Finance Limited to offer Niva Bupa’s select range of indemnity plans to its growing range of existing and past customers.
This partnership can provide an opportunity to Sundaram Finance customers to secure themselves and their families against medical expenditures related to Covid-19 or any other critical illnesses.
The plan will provide peace of mind to customers to tide through any medical emergencies.

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Insurance Awareness CA (December 2022)

SoftBank plans to sell 5% stake in PB Fintech via block deal

SoftBank Group plans to sell a 5% stake in India's PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal.
SoftBank owns a more than 10% stake in PB Fintech through two of its units.

ESIC approves proposal to invest surplus funds in stock market through ETFs

Government's social security body Employees' State Insurance Corporation (ESIC) approved a proposal to invest its surplus funds in the stock market through exchange traded funds (ETFs) due to relatively low returns on investments in various debt instruments coupled with the need to diversify investment
The investment will start with 5% of surplus funds and will increase up to 15%.
The investment will be confined to Exchanged Traded Funds on Nifty and Sensex.
It will be managed by fund managers of asset management companies (AMSs).

Govt announces amendments allowing more tie-ups for corporate agents

The government has notified the amendments regarding the increment in the number of tie-ups corporate agents and insurance marketing firms can have with insurance companies for the purpose of soliciting, procuring and servicing of insurance business.
Corporate agents can now tie up with nine insurers each in the general, life, and health insurance sectors. Currently, they are allowed to tie up with three insurers in each segment.
In the case of composite corporate agents, the total number of arrangements with life, general and health insurers, shall not exceed twenty-seven at any point of time.
Insurance-marketing firms can tie up with six insurers in each line of business of life, general and health for distributing their insurance products. The current limit is two.

Govt announces amendments allowing more tie-ups for corporate agents

The government has notified the amendments regarding the increment in the number of tie-ups corporate agents and insurance marketing firms can have with insurance companies for the purpose of soliciting, procuring and servicing of insurance business.
Corporate agents can now tie up with nine insurers each in the general, life, and health insurance sectors. Currently, they are allowed to tie up with three insurers in each segment.
In the case of composite corporate agents, the total number of arrangements with life, general and health insurers, shall not exceed twenty-seven at any point of time.
Insurance-marketing firms can tie up with six insurers in each line of business of life, general and health for distributing their insurance products. The current limit is two.

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