IRDAI slaps ₹2 cr fine on HDFC Life; shares drop 0.88%
The IRDAI identified violations related to policyholders' interests, interactions with web aggregators, and insurance distributors.
The IRDAI identified violations related to policyholders' interests, interactions with web aggregators, and insurance distributors.
HDFC Life MD & CEO welcomes IRDAI's reforms, which she says will strengthen the life insurance proposition in India, making it simpler, more transparent and attractive
Shares of LIC of India, SBI Life, HDFC Life, Max Financial Services gained up to 2% even after IRDAI raised surrender values.
A young population, increasing disposable incomes, growing financial awareness and robust regulatory support are contributing to the insurance industry’s growth.
The stock trades near its 52-week high of ₹659.90 touched on June 21, 2023, while it has risen 43% against its 52-week low of ₹457.95 hit on March 16, 2023.
Finance Minister Nirmala Sitharaman reduced the tax exemption limit on high-value insurance policies.
Abrdn Plc, previously known as Standard Life, was expected to sell 4.3 crore shares in the company through a block deal at a price band of ₹564-578.5 apiece.
The Sensex and Nifty are poised to rise, in line with global peers and strong trends on SGX Nifty futures.
HDFC Life covered 5.4 crore customers in FY22, registering an increase of 36% over FY21, and settled close to 3.9 lakh claims during FY22.
The managing director and CEO, HDFC Life, resists the idea of being called a woman CEO. However, she believes that we have to start somewhere.