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LIC to rejig Ulips after Irda norms
Following the Insurance Regulatory Development Authority’s (Irda’s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).

Just imagine
Forty years ago, man landed on the Moon. Also in 1969, the Vietnam war ground on, high hippydom ruled Western youth culture, feminism was in its so-called second wave, and the collectivist kibbutz movement in Israel was at the peak of its post-war efficacy. In 1969, Ursula Le Guin was just gaining renown as a writer. In that year she turned 40, and published her best-known science fiction novel. In 2009 the author turned 80 and her book, still in print and now a classic, turned 40.

News of the day

Marico arm buys Code 10 from Colgate-Palmolive
The Malaysian arm of fast moving consumer goods (FMCG) player Marico has acquired hair-styling brand Code 10 from Colgate-Palmolive for an undisclosed sum. The buyout marks the company’s entry into the Malaysian hair-styling market. It is also the company’s first since the acquisition of Durban-based Enaleni Pharmaceuticals in late 2007.
Small Business

IRDA mulls allowing life insurers to invest in derivatives

The Insurance Regulatory and Development Authority (IRDA) is considering allowing life insurers to invest part of policy holders" money in equity derivatives, a move that would allow these firms to hedge the risks emanating from cash markets. - Life premium income jumps 16.6% in H1 - Insurers seek changes in disclosure norms - Govt to assess impact of regulators" actions - Fire & engg policies dearer by 25% - Life covers face MTM valuation - Irda, Sebi start work on insurance firms" IPOs "We are considering to allow life insurers to invest their equity portfolio in futures and options. The matter is being examined," IRDA Chairman J Harinarayan told PTI. Equity derivative is a financial contract whose value is derived from the estimated future price of stocks or stock indices and is generally used as a hedge or insurance against the risks associated with the underlying instrument. When asked what percentage of the equity portfolio would be invested in derivatives market, Harinarayan said, "We have not reached to any conclusion on it. We are just examining the matter and the guideline has not been issued." Insurance companies will be able to hedge their equity exposure and protect returns of policyholders if these firms are allowed to invest in equity derivatives. Life insurers, at present, are allowed to invest 50 per cent of their funds in government securities, 15 per cent in infrastructure-related projects, and the balance 35 per cent in other-than-approved instruments for traditional policies. These other-than-approved instruments consist equities, mutual funds and other money market instruments.


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