Categories

Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business

Popular Articles

Sensex may find support at 16,400
Despite the 2.72 per cent-correction last week, the Nifty managed to close above its trendline support on Friday. The index ended the week with a loss of 138 points at 4,945. Although, the Nifty has ended marginally below its short-term (20-day) Daily Moving Average (DMA)of 4,957, the index ended above its trendline support around 4,920.

Avon Corp posts Q1 net at Rs 3.38 cr
The Mumbai-based Avon Corporation has posted first ever quarterly net profit at Rs 3.38 crore in the first quarter of the current fiscal on a turnover of Rs 25.79 crore.

News of the day

IIFCL to raise $500 mn through UK subsidiary
State-owned infrastructure funding company IIFCL is planning to raise US$500 million (Rs 2,500 crore) through its UK-based subsidiary for financing import of capital goods for infrastructure development.
Online Business

LIC, HDFC Life miss rural obligations

The state-owned insurance giant Life Insurance Corporation of India (LIC) and private sector insurer HDFC Standard Life missed out on rural sector obligations during 2008-09. While two non-life insurers, Bharti Axa General Insurance and Apollo DKV, did not meet both the rural as well as the social sector obligations during the last financial year. - Life insurers log 53% rise in first premium income - "Knowledgeable investors do not look at profit or loss numbers" - Where do I begin? - Offers that lead to despair - Infosys BPO chief quits; to join HDFC Standard Life - HDFC Standard Life lowers capital infusion by Rs 100 crore According to the annual report released by the Insurance Regulatory and Development Authority (Irda), “Out of the 21 life insurers in the private sector, except HDFC Standard, all have fulfiled their obligations towards the rural sector. LIC, which is non-compliant with its obligations in the rural sector during 2008-09, underwrote a lower number of policies in rural sector, than the prescribed 25 per cent for 2008-09.” A life insurance company has to mandatorily underwrite 7 per cent of the total policies in the rural sector obligations in the first financial year up to 20 per cent in the tenth financial year. Similarly in respect of non-life insurer, 2 per cent of the total gross premium income in the first financial year has to be rural sector, which goes up to 7 per cent from the ninth financial year onwards. At the same time all four public sector insurers have complied with both the rural and social sector obligations for 2008-09 with 7 per cent of the quantum of insurance business. The norms prescribed all public sector insurers to write 10 per cent above the target of 2007-08 in the number of lives covered by the respective insurer in the social sector or 550,000 or whichever is higher. LIC complied with its social sector obligations and covered a more number of lives than the prescribed 2 million as obligations for 2008- 09. In social sector, all insurers have to underwrite five thousand lives in the first financial year to 55,000 lives in the tenth financial year under social sector obligations.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

© Copyright 2009