SBI Life Insurance net profit up 14%
Posted on 30th July 2014 |
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| Private life insurer SBI Life Insurance posted a year-on-year rise of 14 per cent in net profit for the first quarter of FY15. The insurer posted a net profit of Rs 241 crore, against Rs 212 crore during the corresponding quarter of last year. Total premium grew 17 per cent to Rs 1,676 crore during the period. The collection of renewal premium recorded a growth of 32 per cent at Rs 937 crore over the corresponding quarter of last year. Atanu Sen, managing director & CEO, said, “We are pleased to announce significant growth for this quarter and look forward to achieving 35 per cent growth in gross written premium this financial year. We continue to be steadfast in our vision to be the most trusted life insurance provider in the Indian market. The recent announcement to increase cap in FDI investments to 49 per cent will give the Insurance industry a much needed boost and will spur a new cycle of growth.” Assets under management of the company grew 17 per cent to Rs 61,871 crore as on June 30, 2014, against Rs 52,745 crore as on June 30, 2013. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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