SOLVENCY
Niva Bupa¡¯s IPO to boost solvency, power future expansion: Krishnan Ramachandran
We have been investing in distribution, in talent, in products, in technology, in our brand over the last few years, so for all of these reasons as we continue our journey of growth, this 800 crores will very much help us shore up our solvency and become self-sustainable over time
Go Digit posts 3x jump in Q2 net profit; gross premium collected at Rs 2,368 crore
Go Digit, a new-age general insurance company, reported a gross written premium of Rs 2,368.5 crore in the September quarter, up 14% from Rs 2,073.8 crore a year back.
ICICI Prudential Life Insurance Q2 Results: Profit rises marginally to Rs 252 crore
ICICI Prudential Life Insurance Company on Tuesday reported a marginal rise of 3 per cent in its net profit to Rs 252 crore in the September quarter. The company's net profit stood at Rs 244 crore in the same quarter a year ago.
National Insurance aims to boost solvency with RBC regime
The state-owned insurer is grappling with a solvency shortfall of ?8,000 crore, with its solvency margin dropping to negative 0.49%, far below the regulatory minimum of 1.5%.
National Insurance Company picks out assets to sell amid poor solvency
National Insurance Company faces an ?8,000 crore solvency shortfall, with a negative 0.49% solvency margin against the regulatory minimum of 1.5%. The insurer plans to address the gap by liquidating key assets, including stakes in Agriculture Insurance Company and India International Insurance Singapore, pending necessary approvals.
HDFC Life to raise Rs 1,500 crore through NCDs
Company's capital raising committee (CRC) met on Friday to finalise commercial terms for the fundraising under this first tranche, the company said in a stock exchange announcement. In a previous board meeting in July, the insurer had authorised raising ?2,000 crore through NCDs in one or more tranches.
HDFC Life to raise Rs 1,500 crore via NCDs to strengthen solvency
HDFC Life Insurance plans to raise Rs 1,500 crore through non-convertible debentures after board approval. The NCDs will carry an 8.05% coupon rate and a 10-year term, with allotment set for October 9. This move follows a drop in the company's solvency ratio and aims to bolster financial stability.
Govt may introduce insurance laws amendment bill in Budget session
The government is expected to introduce a bill amending the Insurance Act, 1938, during the upcoming Budget session, aiming for 'Insurance for All by 2047'. The proposed amendments may include a composite license, differential capital regulations, reduced solvency norms, captive license issuance, changes in investment regulations, one-time registration for intermediaries, and permitting insurers to distribute other financial products.
Niva Bupa files for Rs 3,000-cr IPO
Niva Bupa Health Insurance files a ?3,000 crore IPO, aiming to enhance solvency ratio and operating expenses. British United Provident Fund Bupa is an existing shareholder. TrueNorth-managed Fettle Tone LLP and Bupa Group play key roles in the IPO process.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
?GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
Government to get Rs 3,662 crore from LIC as dividend
The government, the largest shareholder in the company, currently holds 96.50% stake in it accounting for 6,10,36,22,781 shares out of 6,32,49,97,701 fully paid up equity shares.
LIC Q4 Results: Cons PAT jumps 4.5% YoY to Rs 13,782 cr; dividend declared at Rs 6 per share
LIC Q4 Results: The company had reported a net profit of Rs 13,191 crore in the corresponding period of the last financial year. The Total Premium Income for the year ended March 31, 2024, was reported at Rs 4,75,070 crore. It was Rs 4,74,005 crore for the year ended March 31 2023. The Total Individual Business Premium for the financial year increased to Rs 3,03,768 crore from Rs 2,92,763 crore reported for the comparable period of the previous year.
Strong financials, steady growth will help Digit¡¯s public listing sail through: Kamesh Goyal
Insurance startup Digit is set to hit the public markets on May 15, looking to raise Rs 1,125 crore through a fresh issue of shares and an offer for sale of 54 million equity shares.
Will be focusing on top line as well as VNB growth: Vibha Padalkar, HDFC Life
What we will have is, again, a balanced product mix. Unit link will stay range bound around this, either between a fourth to a third of our business.
Three state-owned non-life insurers fail to meet solvency requirements: RBI report
The Reserve Bank of India's latest Financial Stability Report reveals that three state-owned insurance companies are not meeting regulatory solvency requirements. The solvency ratio for public sector non-life insurers is sub-optimal, with three out of four recording ratios below the baseline of 150% set by the Insurance Regulatory and Development Authority of India. However, the report indicates that the solvency ratio for life insurance companies, both public and private, remains above the prescribed threshold at an aggregate level.
ET explainer: What is the available solvency margin for an insurance company?
ASM indicates financial soundness of an insurance company, a necessary condition for it to make due payments. An inadequate ASM means the insurer may not be able to honour its commitment. Therefore, while seeking insurance cover, it is necessary to select insurers with high ASM.
LIC's Q2 net profit falls 50% mainly on accounting changes
In the first-half of FY23, the actual profit increased by 44.45% to ?17,469 crore from ?12,093 crores. This half-year profit incorporates an amount of ?13,768 crore (net of tax), related to the accretions on the available solvency margin, transferred from the non-par fund to the shareholders' account. The Solvency Ratio, as of September 30, 2023, improved to 1.90 compared to 1.88.
IRDAI moves towards risk-based capital regime
Aimed at transitioning from the existing solvency-based model to the Risk-Based Capital framework, IRDAI has introduced a 'Technical Guidance' document with the initiation of the First Quantitative Impact Study.
Learn With ETMarkets: Solvency vs Liquidity: Understanding the differences and importance
Understanding the difference between solvency and liquidity is essential when investing. Liquidity is a company's ability to meet short-term obligations with liquid assets, while solvency refers to its ability to repay long-term debts. Liquidity ratios, such as the Working Capital Ratio and Acid Test Ratio, give investors an insight into a company's short-term financial standing.
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