Daily Current Affairs 8 August 2019 for Banking/Insurance/SSC and other related exams. Health ministry sets target to reduce HIV cases by 2020 With an aim to bring down incidence of HIV/AIDS by 20,000 per year for the next two years, the Union Health Ministry is reaching out to targeted areas like prisons and women remand homes as cases in these places are much higher as compared to the general population. e-Rozgar Samachar launched to spread awareness about job opportunities The e-version of Rozgar Samachar has been launched recently by Union Minister of Information & Broadcasting Shri Prakash Javadekar. It has been launched with a view to make aspirants aware of job opportunities in...
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Mullen Lintas’ Latest Work For SBI Life Insurance Posted on SBI Life Insurance Launches New Campaign Targeting Young Indians SBI Life Insurance launched its ‘Main se Hum’ campaign today, establishing a sharp focus on the company’s portfolio of protection products. The 360° campaign targets millennials across multiple platforms including TV, print, outdoor, along with digital and social media. Contrary to popular belief millennials are happy to take on responsibilities of safeguarding their loved ones, as they progress in life. SBI Life’s ‘Main se hum’ campaign positions insurance as a happy responsibility to help millennials progress through various life stages, subtly appealing to...
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New premium collection of life insurers grew by 6.43 per cent to Rs 18,639.29 crore in August compared to the year-ago month, according to the figures released Wednesday by insurance regulator IRDAI. New premium collection of life insurers grew by 6.43 per cent to Rs 18,639.29 crore in August compared to the year-ago month, according to the figures released Wednesday by insurance regulator IRDAI. Life insurance companies had collected a total premium of Rs 17,513.59 crore in August 2017. Of all the 24 life insurance companies, state-owned LIC of India witnessed a decline of 1.94 per cent in its new business premium to Rs 13,122.12 crore during the month. The rest of the 23 private sector...
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SBI Life has appointed Mullen Lintas as their creative agency, and Mindshare as media agency, following a closely contested multi-agency pitch. Expressing his delight, Amer Jaleel, chairman at Mullen Lintas, says, "The brand (SBI Life) has created some really memorable work in the past which we hope we can build on to take the brand higher. I am personally excited at coming back into the life insurance space again. I have a lot of fond memories of working at Lowe with R Balki on the category and I am really excited for this new journey," Commenting on win, Prasanth Kumar, CEO, Mindshare, South Asia, MENA and Africa, states, "Being one of our esteemed client partners, this is a joyous moment...
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<b><u>terms and conditions</u></b></a> governing payment of premium using this mechanism. <i>Total Net Amount due is inclusive of GST and late payment interest (if applicable). In case your next premium is due within 30 days from your payment date, the next premium will also be included in total amount due. </i>"/> Subject to the terms and conditions of your policy contract: 1. Max Life Insurance Company Limited (“Company” or “We” or “Us” or “Our”) requests you to pay your due premiums (along with the all applicable taxes, cesses, and levies as imposed by the Government or any other taxes, cesses or levies, if any) within the due dates specified in the policy...
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In another landmark Asia capital markets transaction, Milbank, Tweed, Hadley & McCloy LLP advised the underwriters on a $1.3 billion successful initial public offering of 120 million equity shares of SBI Life Insurance, a subsidiary of the country's largest lender, State Bank of India, marking India’s first billion-dollar IPO since 2010, and first US$1 billion IPO in India in seven years. The shares were offered under Regulation S/Rule 144A. The underwriters comprised of Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, ICICI Securities Limited, JM Financial Institutional Securities Limited, Kotak Mahindra...
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SBI Life Insurance Company Ltd is the India’s largest private life insurer in terms of new business premium (NBP) generated in each fiscal year since FY10. It has also increased its market share of NBP generated among private life insurers in India, from 15.9% in FY15 to 20% in FY17. Over FY15-17, the company’s NBP increased by 35.5% CAGR, which is the highest among the top five private life insurers (in terms of total premium in FY17) in India. The company's maiden issue opens for subscription today. At the IPO price band of Rs 685-700, the stock is available at P/IEV multiple of 4.2x FY17 (post issue) at the upper end of the price band. Post issue market capitalisation is...
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SBI Life Insurance Co Ltd, a joint venture between State Bank of India Ltd and BNP Paribas Cardif, on Monday filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering. The public issue comprises a sale of 120 million shares, representing a 12% stake dilution on the post-offer basis. SBI plans to sell 80 million shares and Cardif the remaining. The IPO is likely to hit the market by the end of 2017 or early 2018. The total issue size is estimated to be Rs 6,500-7,000 crore ($1.01-1.10 billion), two persons with direct knowledge of the matter told VCCircle. VCCircle had reported that the life insurer had picked eight merchant...
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In a landmark judgement, the Allahabad High Court has asked SBI Life Insurance to return Rs 50,000 to 72-year-old Virendra Pal Kapoor. Kapoor had filed a case in the court after he found that his initial investment of Rs 50,000 had reduced to just Rs 248 in five years. Kapoor retired as a scientist of National Botanic Research Institute. In 2007, on the advice of his agent, he invested Rs 50,000 in a single-premium unit-linked policy of SBI Life called Unit Plus II. Just as his agent advised, he opted for a high risk cover at 625% of the premium, amounting to Rs3,12,500. However, to his surprise, on maturity he was paid only Rs 248 as balance due to high mortality and other charges in Ulips...
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Post SBI Life IPO, promoter's stake in the company will come down to 84 per cent. SBI Life Insurance Company's Rs 8,400 crore of $1.3 billion initial public offer (IPO), the biggest insurance IPO in India, opened for subscription today. SBI Life's IPO , also the biggest in India in last 7 years after Coal India, will give a valuation of Rs 70,000 crore to the life insurer backed by India's biggest lender SBI and BNP Paribas Cardif. SBI owns 70 per cent equity while BNP Paribas Cardif 26 per cent in SBI Life. Priced in a band of Rs 685 to Rs 700, SBI Life IPO can be subscribed in lot sizes of 21 shares, which means one has to shell out minimum Rs 14,385 (at Rs 685/share) to apply the IPO....
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