Exide Life Insurance Organization Limited is a well-established and lucrative company with over 15 lakh subscribers in more than 200 Indian locations. The company follows the insurance regulatory board’s (IRDAI) claim requirements to the letter, and its services are ISO 9001:2008 accredited.
Who owns Exide life?
Exide Life Insurance Company Limited is a company that provides life insurance. HDFC Life is the sole owner of the company. The firm is in charge of assets of INR 18,381 crores (as on 31 March, 2021). Exide Life Insurance sells its products through a variety of distribution channels, including agency, bancassurance, corporate agency and broking, direct channel, and online.
Is LIC governed by IRDA?
On Thursday, the Insurance Regulatory and Development Authority (Irda) sought to assuage fears about its monitoring of the government-owned Life Insurance Corporation of India (LIC). In response to the International Monetary Fund’s (IMF) report, Irda Chairman T S Vijayan stated that the regulator has total oversight over LIC in terms of both market conduct and prudential regulations.
Irda explained that LIC’s regulatory control is extensive, requiring the company to oversee both prudential and market conduct operations. Despite the fact that the LIC Act removes certain elements of the Insurance Act of 1938 from application, the state-run life insurer is nevertheless subject to regulatory monitoring.
How many Exide life insurance branches are there?
HDFC Life owns Exide Life Insurance Firm Limited, an Indian life insurance company. Exide Life Insurance sells its policies through a variety of channels, including agency, bancassurance, corporate agency and broking, and direct channels. Over 40,000 advisors are connected to over 200 firm offices across the country through the Agency channel. The organization serves over 15 lakh consumers and manages assets worth over INR 18,000 crores. It has been in business since 2001 and is based in Bangalore. It is concerned with life insurance policies that provide long-term protection and savings opportunities.
When did Exide life insurance start?
Exide Life Insurance Information Exide Life Insurance Company Limited, a well-established and lucrative life insurance company based in Bengaluru, began operations in 2001-02. Exide Industries Limited is the sole owner of the company.
Is digit insurance registered with IRDA?
The Authority has registered M/s. Go Digit General Insurance Limited as a General Insurer under Section 3 of the Insurance Act, 1938. On September 20, the Authority gave them a Certificate of Registration (Form – IRDAI/ R3).
Is the full form of IRDA?
The Insurance Regulatory and Development Authority (IRDA) Act of 1999 states that IRDAI’s mission is to “defend the interests of policyholders, to regulate, promote, and assure orderly expansion of the insurance business, and for matters associated with or incidental thereto.”
What is the meaning of IRDA?
l) “IRDA” or “IRDAI” refers to the Insurance Regulatory and Development Authority, which was renamed the Insurance Regulatory and Development Authority of India in 2014; m) “Lapsed Policy” refers to a policy that has been terminated for non-payment of premiums after the grace period has expired.
Who is the head of IRDA?
Shubash Chandra Khuntia, the former Karnataka chief secretary, has been named the new chairman of the Insurance Regulatory and Development Authority of India (Irdai) for a three-year term. Former Irdai chairman TS Vijayan, who left office on February 20, is replaced by Khuntia.
The Financial Sector Regulatory Appointment Search Committee (FSRASC) has eight candidates short-listed for the position. Other notable candidates included G Srinivasan, Chairman of New India Assurance, VK Sharma, Chairman of Insurance Corporation, and former corporate affairs…