News That Matters

Tag: Indiafirst

IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown

IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown

Finance
Mumbai: IndiaFirst Life Insurance has announced its business continuity plan for the period of lock down imposed by the government for prevention of a Covid-19 in line with insurance regulator IRDAI’s directions. The insurers announced that they will provide grace period for premium dues to policyholders and waive of late penalty fees, among other customer friendly initiatives.The Bank of Baroda and Andhra Bank owned life insurers also said that the all policies issued by the company stands valid even on event of death due to Covid-19 virus. The company has also made all servicing and distribution channels digital as well, it said in a press release.In testing times like these, the safety and well-being of our customers and employees is our top priority. We have moved to a complete work fr
JV partners of Indiafirst Life Insurance exploring strategic options

JV partners of Indiafirst Life Insurance exploring strategic options

Finance
The domestic insurance sector is witnessing a flurry of M&A activity and ET NOW learns that a mega deal is brewing in one of India's youngest life insurance companies, IndiaFirst Life Insurance which is a three-way joint venture between Bank of Baroda, Andhra Bank and UK's leading risk,wealth and investment brand Legal & General group. According to two sources familiar with the proposed transaction who spoke on the condition of anonymity, the JV partners are currently exploring multiple strategic options which could include either a potential partial stake sale or even a potential exit based on the progress of the discussions. " They ( JV partners) are considering various strategic options, but no plans have been finalised as yet by them. As part of preliminary negotiations , ta...