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Life insurance companies' new business premium collection grows 9% in May
13-Jun-2018 (18:32)
IDBI Federal Life Insurance unveils its new product 'Dream Builder Plan'
13-Jun-2018 (16:37)
ICICI Bank to sell 2% stake in life insurance arm
13-Jun-2018 (10:14)

ICICI Bank on Wednesday said it will offload 2 per cent stake in its insurance arm ICICI Prudential Life in one or more tranches.

"The Board of Directors of the bank today approved the sale of up to 2,87,11,100 shares, representing up to 2 per cent of the issued and the paid-up equity share capital of ICICI Prudential Life Insurance Company in one or more tranches," ICICI Bank said in a BSE filing.

The bank said the stake sale can be through any manner including 'offer for sale by promoters through stock exchange mechanism' (OFS).

The insurance company is a joint venture between ICICI Bank and the US-based Prudential Corporation Holdings. While ICICI Bank held 54.88 per cent stake in the JV, Prudential's stake was at 25.83 per cent as on March 31, 2018, data on BSE showed. Rest of the equity is held by public and institutional investors.

ICICI Prudential Life came up with its initial public offer (IPO) in September 2016. Stock of ICICI Bank closed at Rs 290.65 on BSE, up 1.18 per cent. ICICI Prudential Life ended 2.77 per cent down at Rs 410.25.
Canara HSBC Life Insurance to shift focus to Tier III, IV cities to grow business
11-Jun-2018 (09:29)
Insurance companies want IT system for Ayushman Bharat scheme to check quality, fraud
06-Jun-2018 (16:26)
Bharti AXA Life Insurance posts maiden profit of Rs 5 crore in FY18
05-Jun-2018 (17:19)
Bajaj Allianz Life Insurance announces one-time bonus for policy holders
01-Jun-2018 (18:08)
Warburg Pincus buys 26% stake in IndiaFirst Life Insurance for Rs 710 Cr
01-Jun-2018 (09:44)
Canara HSBC Life Insurance FY18 net profit rises 51% at Rs 168 crore
31-May-2018 (09:30)
Maharashtra CM Devendra Fadnavis asks crop insurers to settle farmers' claims by June 7
30-May-2018 (18:23)
Telangana government approves Rs 5 lakh insurance cover to farmers
28-May-2018 (09:46)
Non-life insurance companies gross premium up 14% at Rs 13,881 crore in April
25-May-2018 (10:00)
HDFC Life Insurance launches artificial intelligence 'Chat Bot Elle'
24-May-2018 (17:57)
Aviva Life Insurance unveils it new online term plan 'Aviva i-Term Smart'
24-May-2018 (09:51)
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