IRDAI Mandates Shorter Audit Tenures to Boost Governance in Insurance Sector The Insurance Regulatory and Development Authority of India (IRDAI) has introduced new regulations mandating shorter audit tenures for insurance companies. This significant move aims to enhance governance, accountability, and transparency within the insurance sector. New Audit Tenure Regulations Under the new guidelines, IRDAI has…
IRDAI Approves Appointment of Keki Mistry as Chairman of HDFC Life The Insurance Regulatory and Development Authority of India (IRDAI) has given its nod to the appointment of Keki Mistry as the Chairman of HDFC Life. The decision comes as a significant development in the insurance sector, as Mistry brings a wealth of experience and…
Policybazaar Establishes Wholly-Owned Subsidiary PB Pay Private Limited for Expansion into Payment Aggregation Services In a strategic move aimed at broadening its spectrum of services, Policybazaar, India’s leading online insurance aggregator, has announced the establishment of its wholly-owned subsidiary, PB Pay Private Limited. This latest endeavor marks the company’s foray into the domain of payment…
Tata AIA Life Appoints Venkatachalam H as MD and CEO In a significant move, Tata AIA Life, a renowned life insurance company, has appointed Venkatachalam H as its new Managing Director and Chief Executive Officer. This appointment comes as part of the company’s strategic initiatives to enhance its leadership team and drive growth in the…
Regulator Directive SBI Life Takes Over Sahara Life Policies Introduction: In a significant development in the insurance sector, the regulatory body has directed SBI Life Insurance Company to acquire the policies of Sahara Life Insurance. This move comes after the regulator found several irregularities and concerns regarding the financial stability and management of Sahara Life…
The Life Insurance Corporation of India (LIC) has appointed Tabelesh Pandey and M Jagannath as its new managing directors (MDs). Pandey and Jagannath will take over as MDs of the insurance giant on 1st May 2023, replacing current MDs MR Kumar and TC Suseel Kumar, who are set to retire on 30th April 2023. Why…
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