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.

🎲 Quiz ''Insurance Awareness Quiz (Part - 16)'
🖊 10 questions · ⏱ 30 sec

🎲 Quiz 'Insurance Awareness Quiz (Part - 17)'
🖊 10 questions · ⏱ 30 sec

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