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LIC’s group premium doubled in February to ₹14,915 crore
Thehindubusinessline
·
1y ago
Medial
The group premium collected by Life Insurance Corporation (LIC) doubled to ₹14,914.98 crore in February 2024, compared to ₹7,433.27 crore in the previous year. The total premium for the month increased by 67.48 percent to ₹19,896.01 crore. LIC witnessed growth in both individual and group premiums, with a 36.10 percent increase in group yearly renewable premium and an 11.69 percent increase in individual premium. The total number of policies also increased by 6.34 percent, reaching 17,18,560 in February 2024.
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Related News
New-age life insurers tap group business opportunity in their first year of ops
Economic Times
·
2m ago
Medial
New-age life insurers like Acko, Go Digit, and CreditAccess, who received licenses in 2023, are focusing on group products to boost premium collections. Acko Life's premiums doubled to Rs 63 crore in fiscal 2025, Go Digit's reached Rs 1,068 crore, and CreditAccess reported Rs 193 crore. Their strategy involves employer-employee life covers, leveraging swift service setups, and gradually expanding to retail products. These companies aim for a balanced business mix while navigating challenges in trust-building and customer experience.
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New-age life insurance firms tap group products to boost business
Economic Times
·
2m ago
Medial
New-age life insurers like Acko, Go Digit, and CreditAccess are focusing on group products to drive premium collections, with significant growth in their first full operational year. Acko Life Insurance's premiums nearly doubled, while Go Digit and CreditAccess also saw considerable increases. Leveraging group products, these companies quickly established sales processes. Although they focused on retail in general insurance, they are now disrupting the group life insurance market, emphasizing customer trust and streamlined claims settlement.
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LIC’s unclaimed maturity amounts at ₹881 cr in FY24
Livemint
·
7m ago
Medial
Life Insurance Corporation (LIC) has reported unclaimed maturity amounts of ₹880.93 crore in the year 2023-24, with over 3,72,000 policyholders not claiming their benefits. The previous year saw ₹815.04 crore belonging to 3,73,329 policyholders go unclaimed. LIC has implemented various measures, including advertisements and reminders sent via post, email, and SMS, to encourage policyholders to claim their due amounts. The Foreign Exchange Reserves (FER) decreased by 2.63% for the week ending November 15, 2024, and the value of the Indian Rupee (INR) is market-determined. The Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of 5,728 Non-Banking Finance Companies (NBFCs) and Asset Reconstruction Companies (ARCs) as of June 30, 2024.
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Tata Group doubles revenue, triples profit and market cap in five years with Rs 5.5 lakh crore ‘future fit’ push: N Chandrasekaran
Economic Times
·
16d ago
Medial
Tata Group, under Chairman N Chandrasekaran, nearly doubled its revenue and more than tripled its net profit and market capitalization over five years by investing ₹5.5 lakh crore to become "future fit". The group's FY25 revenue reached ₹15.34 lakh crore with a net profit of ₹1.13 lakh crore and a market cap of ₹37.84 lakh crore. TCS remained the major profit contributor, and Tata Sons’ revenue rose by 24% despite a dip in net profit.
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Rare Rabbit posts 69% jump in FY24 revenue to Rs 637 crore
Economic Times
·
9m ago
Medial
India's Rare Rabbit, a premium fashion label owned by Radhamani Textiles, exceeded Rs 600 crore in revenue in FY24. The brand, which includes men's fashion brand Rare Rabbit and women's brand Rareism, saw a jump of 69% in operating revenue compared to the previous year. Its net profit more than doubled to Rs 75 crore. The company expanded its store footprint to more than 150 stores across India, with a focus on offline channels. Rare Rabbit faces competition from brands like Louis Phillippe, Tommy Hilfiger, and Marks and Spencer in India's fashion market.
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Go Digit General Insurance profit jumps 2.2X during Q4 FY25
Entrackr
·
3m ago
Medial
Go Digit General Insurance has reported steady financial performance quarter-on-quarter, as the company’s gross written premium (GWP) increased by 10% in the quarter ending March 2025. At the same time, its profit doubled during the same quarter (Q4 FY25). Go Digit’s GWP rose to Rs 2,576 crore in Q4 FY25, compared to Rs 2,335 crore in Q4 FY24, according to its financial report sourced from the National Stock Exchange. For the full fiscal year, the Bengaluru-based firm crossed the Rs 10,000 crore milestone in GWP for the first time, growing 14% to Rs 10,282 crore in the fiscal year ending March 2025.
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Tata is now riding the new wave: What lies ahead?
Economic Times
·
15d ago
Medial
Tata Group, one of India's largest conglomerates, is navigating a significant transformation under Chairman N. Chandrasekaran. Over the past five years, the group has nearly doubled its revenue and more than tripled its net profit and market capitalization by investing ₹5.5 lakh crore to become "future fit." Key challenges include sustaining performance amid economic and technological shifts, addressing sustainability in capital-intensive businesses, and improving digital transformation efforts across sectors like electronics, aviation, and digital retail.
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Ashwin Sheth eyes over 10 housing projects, nearly ₹30,000 cr sales in 2025
Livemint
·
7m ago
Medial
Ashwin Sheth Group, a real estate developer, plans to launch over 10 housing projects by 2025 and enter the Bengaluru market. The group anticipates a potential gross development value of ₹30,000 crore from these projects. To fund its expansion, the company is considering an IPO in the next 12-18 months. The group is targeting the premium and luxury real estate segments, with a focus on strategic partnerships and joint ventures to minimize debt.
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FabIndia backer Lighthouse invests in premium occasion wear brand Kalki Fashion
VCCircle
·
3m ago
Medial
Lighthouse Funds has invested Rs 225 crore ($26.4 million) in Kalki Fashion, a Mumbai-based premium bridal and festive wear brand, to help expand its domestic and international retail presence. The deal gives Lighthouse a large minority stake, valuing Kalki Fashion between Rs 1,500 crore and Rs 2,500 crore. Lighthouse, managing over Rs 12,000 crore in assets, has previously invested in companies like Fabindia and Nykaa. The Rainmaker Group advised on the transaction.
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Adar Poonawalla to sell Magma Insurance stake to Baba Ramdevs Ramdev Patanjali DS Group
Business Today
·
4m ago
Medial
Adar Poonawalla's Sanoti Properties is set to sell its 98% stake in Magma Insurance to Patanjali Ayurved and DS Group for Rs 4,500 crore. Magma General Insurance offers both retail and commercial products, including vehicle, health, and home insurance, among others. With projected premium growth, the strategic acquisition by Patanjali and DS Group aims to expand their presence in the insurance market, challenging existing players and introducing new competitive dynamics.
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