The fast growing domestic insurance industry, in its wish-list for the forthcoming Budget, has pushed forward demands for higher level tax exemption for long term savings, health insurance, rural business, and hiking the foreign direct investment (FDI) limit to 49% from 26%. US Roy, managing director, SBI Life said the investment in life insurance in context of tax exemption could be...
The general insurance sector size is estimated to be around Rs30,000 crore and is growing at a rate of 15% per year. The industry cannot grow to the levels that have been forecast without an infusion of additional capital. This is only possible if higher FDI is permitted. This will unshackle the insurance industry and drive growth and long-term development. Key recommendations ...
A separate tax relief for long-term savings, incentives for health insurance and greater enablement of investments in infrastructure top the wish list of insurance industry for the Union Budget 2008-09. At present the Rs 1 lakh exemption under Section 80 C also includes short-term saving instruments like mutual funds and fixed deposits. As the life insurance and pension address...
Royal & SunAlliance, the UK's second-largest insurer, has increased full-year profits from £649m to £670m pre-tax, despite a £120m bill for last summer''''''''s flooding.The latest news and analysis from the insurance and pensions industry. The group's combined operating ratio - a measure of its profitability - was 94.9pc, compared with 93.3pc in the preceding year. It would have...
Corporate social responsibility (CSR) has emerged as a significant theme in the global community and has become a mainstream activity for many corporates. For us, it has become an integral part of our strategy in running our business. Whether the issues pertain to the environment, product safety and impact, or education and societal benefits, they are all part of the long-term...
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