Standard & Poor’s Ratings Services on Monday downgraded Italy’s credit rating by one notch, saying it sees weakening economic growth prospects for the European nation and higher-than-expected levels of government debt. The ratings firm cut Italy’s long- and short-term sovereign credit ratings to “A/A-1” from “A+/A-1+.” The rating is still five steps http://businesstoday.intoday.in/story/sandp-downgrades-italys-credit-rating-a-notch/1/18777.html?source=BT200911
The general insurance industry is estimated to grow by over 18 per cent to reach a size of Rs 90,000 crore by 2015, industry chamber Assocham said. The current size of the non-life industry is Rs 47,000 crore. Motor insurance would continue to remain the largest category, contributing over 40 per cent of industry premiums, […]
Regulator plans minimum death benefit at five times the annual premium. After unit-linked insurance policies (Ulips), the Insurance Regulatory and Development Authority (Irda) is set to crack the whip on traditional plans as well http://www.business-standard.com/india/news/after-ulips-traditional-plans-come-under-irda-scanner/449653/
Unit-linked life insurance products that promise buyers returns based on highest net asset value (NAV) achieved during the tenure of the policy are “risky” and may mislead consumers, chief of the insurance watchdog said Thursday. The Insurance Regulatory and Development Authority (IRDA) may soon ask life insurance companies to discontinue such products, also commonly known […]
The National Stock Exchange listed the Dow Jones Industrial and S&P 500 on its platform last week. Yet another widely- tracked global index is coming to India. After the National Stock Exchange (NSE) listed the Dow Jones Industrial and S&P 500 on its platform last week, the Bombay Stock Exchange is set to respond by […]
A 31-year-old staffer was arrested in the early hours of Thursday for causing a $2-billion loss to Swiss investment banking giant UBS on account of unauthorised trading at the bank’s London office. http://www.business-standard.com/india/news/rogue-london-trader-costs-ubs-2-bn/449332/
The National Stock Exchange (NSE) is set to launch its much-awaited SME exchange in the next three to four weeks. Both the BSE and the NSE have received approval from SEBI to start their own SME trading platforms. “We are going to launch the SME exchange very soon,” said Mr K Hari, Vice-President, NSE, on […]
In a move that may further dent sales of unit-linked life insurance plans (Ulips), the Insurance Regulatory and Development Authority (Irda) is set to scrap the highest Net Asset Value (NAV) guarantee products. Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on […]
