Indian shares jumped on Monday, with private-sector lender ICICI Bank Ltd (ICBK.NS) climbing after strong quarterly results, as investors hoped that surging coronavirus cases could peak soon and mitigate the pandemic's economic impact. The NSE Nifty 50 index (.NSEI) rose 1.36% to 14,539.15 by 0426 GMT, while the benchmark S&P BSE Sensex (.BSESN) was up 1.49% at 48,587.7. Up to Friday's close, the indexes had shed around 7% and 9%, respectively, from peaks hit in February. Total COVID-19 cases in India surged by a 352,991 on Monday, a fifth straight day of record jump in new infections, as the increase overwhelmed its healthcare system and prompted nations like the United...
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Reliance Life Insurance Reliance Life Insurance offers you products that fulfill your savings and protection needs. Aim of Reliance Life Insurance is to emerge as a transnational Life Insurer of global scale and standard. Reliance Life Insurance is an associate company of Reliance Capital Ltd., a part of Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and...
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In the case of Reliance Life Insurance Ltd & Anr v Rekhaben Nareshbhai Rathod (decided on 24 April 2019), the Supreme Court of India has extensively dealt with the Insured's disclosure obligation. On 10 July 2009, the Insured took a life insurance policy from Max New York Life Insurance (Max) for ₹11 lakhs. On 16 September 2009, the Insured submitted a proposal to Reliance Life Insurance (Reliance) for another life insurance policy for ₹10 lakhs. Among the questions that the Insured was required to answer in the Reliance proposal form was whether he was currently insured or had previously applied for life insurance cover, critical illness cover or accident benefit cover. The...
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Reliance Life Insurance Company (RLIC), part of Reliance Capital Limited, today announced the launch of ‘Reliance Lifelong Savings Plan’. The plan is a non-linked, participating endowment-cum-whole life plan aimed to offer goal based saving and protection to policy holders. “Reliance Life Long Savings Plan is aimed to provide goal-based long term financial planning, while providing flexibility to deal with unforeseen life events. The plan’s unique feature offers lifelong cover, bonus, and two sum assured – one at maturity and one at death. This added protection will go an extra mile to protect the future and provide a financial cover for the policyholder and their family” said Manoranjan...
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Press Release Majesco Distribution Management will enable speed to market, growth strategies, enhance agent service Morristown, NJ – January 24, 2018 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, today announced that Reliance Nippon Life Insurance, an India based life insurance carrier has selected Majesco Distribution Management to optimize their agent channel. Majesco Distribution Management is designed to enable Reliance Nippon Life to administer and manage agents more effectively while delivering enhanced service that make it easier for agents to do business with Reliance Nippon Life. The product’...
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Japan's Nippon Life Insurance has said that it has successfully completed the acquisition of 75 per cent stake in Reliance Nippon Life Asset Management (RNAM) from the Anil Ambani-controlled financial services company Reliance Capital. Reliance Capital, which is one of the promoters of the RNAM, will further sell its remaining 4.28 per cent stake in the insurance joint venture worth around Rs 700 crore. It had already offloaded 17.06 per cent of its stake in RNAM, in three tranches, for Rs 2,480 crore to achieve the minimum public shareholding of 25 per cent in assent management company by reducing the promoter stake. As of June quarter, Reliance Capital Ltd held 32.12 per stake in RNAM,...
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MORRISTOWN, N.J.--( BUSINESS WIRE )--Majesco (NYSE MKT: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, today announced that Reliance Nippon Life Insurance, an India based life insurance carrier, has selected Majesco Distribution Management to optimize their agent channel. Majesco Distribution Management is designed to enable Reliance Nippon Life to administer and manage agents more effectively while delivering enhanced service that make it easier for agents to do business with Reliance Nippon Life. The product’s capabilities coupled with customized developments is expected to reduce the time to market to implement new ideas...
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The 15 anchor investors include Franklin Templeton MF, SBI MF, HDFC Standard Life Insurance, Birla Sun Life Trustee, ICICI Prudential MF, Sundaram MF, Tata AIA Life Insurance and Reliance Life Insurance. Nippon Life's total investment has reached Rs 8,630 crore for acquiring 49 percent stake each in Reliance Life Insurance and Reliance Capital Asset Management. The Foreign Investment Promotion Board (FIPB) today cleared 16 FDI proposals worth Rs 14,000 crore including that of Japan's Nippon hiking stake in Reliance Life Insurance to 49 per cent, as also that of four other foreign insurers. Once the deal is complete, Nippon Life Insurance would have 49 percent stake in the company, the...
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Policyholder Information Company Overview During 2000, Reliance Insurance Company merged all of its subsidiaries (Reliance National Indemnity Company, Reliance National Insurance Company, United Pacific Insurance Company, Reliance Direct Company, Reliance Surety Company, Reliance Universal Insurance, United Pacific Insurance Company of New York, and Reliance Insurance Company of Illinois) into Reliance Insurance Company. In addition, Reliance executed a coinsurance agreement with Combined Insurance Company of America for essentially all of its accident and health business. In 2001, Reliance was placed in rehabilitation and then liquidation by the Pennsylvania court. The state life and...
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JSW Steel Chairman Sajjan Jindal speaks during a news conference in Ahmedabad in July, 2015. | Amit Dave/ Reuters Sajjan Jindal, the chief executive officer of Jindal Steel Works earned 1,052 times as much as the firm’s average employee in the financial year of 2018-’19, according to a report on the pay ratios of India’s top executives compiled by two economists. The pay ratio at the firm improved in 2019-’20, with the CEO salary amounting to 581 times the average employee, the economists found. The pay ratio is the ratio of the top salaries in a group to the bottom salaries. The report was compiled by Reetika Khera, an associate professor of economics at the Indian Institute of Technology...
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