Wealthsurance Dreambuilder offers flexible, customised investment options; covers 17 major diseases, hospitalisation and accidental injuries
Private life insurer IDBI Federal Life Insurance today announced the launch of its new ULIP (unit-linked insurance plan) called Wealthsurance Dreambuilder Insurance Plan which will enable customers to save and build wealth under the protective cover of insurance.
Wealthsurance combines wealth creation and insurance protection into one financial solution. With a minimum premium amount of Rs25,000 per year and maximum of Rs1,00,000, Wealthsurance Dreambuilder Insurance Plan offers a wide range of insured wealth plans.
Announcing the launch of the new plan, GV Nageswara Rao, MD & CEO of IDBI Federal Life Insurance said, "The is a very flexible plan and can be customised to an individual's needs with 13 different fund options to choose from. A key attribute of the plan is that it can be insured not only against risk of death but against 17 major diseases, hospitalisation, disability, accidental injuries etc so that you can feel confident that your financial goals can be reached despite the surprises life may throw up. To encourage long term investments, the plan boosts your funds through Guaranteed Loyalty Additions at the end of 10th policy year and every five years thereafter to reward customers for staying committed for the long term."
Wealthsurance Dreambuilder Insurance Plan offers a suite of investment options designed to meet the needs of every customer depending upon his or her risk appetite. For instance, conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take risks can opt for capital protected options where the entry NAV (net asset value) is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long-term and understand the risk can opt for market linked equity options.
The NCD issue would aggregate up to Rs375 crore with an option to retain over-subscription up to Rs375 crore for issuance of additional NCDs aggregating to a total of up to Rs750 crore
Shriram City Union Finance Limited, a deposit-accepting NBFC (non-banking financial company) registered with the RBI (Reserve Bank of India) and the largest small enterprise finance company in India, plans to raise funds through the debt capital market on 11th August with a public issue of Secured Non Convertible Debentures (NCDs) of face value of Rs1,000 each. The NCD issue would aggregate up to Rs375 crore with an option to retain over-subscription up to Rs375 crore for issuance of additional NCDs aggregating to a total of up to Rs750 crore.
The NCDs proposed to be issued under this issue have been rated CARE 'AA' by CARE for an amount of up to Rs750 crore, and CRISIL 'AA-/Stable' by CRISIL for an amount of up to Rs750 crores. The funds raised through this issue, after meeting expenses, will amongst others, be used for Shriram City's various financing activities including lending and investments. The funds would also be used to repay the company's existing loans and for its business operations including for the capital expenditure and working capital requirements. The NCDs are proposed to be listed on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange).
JM Financial Consultants Private Limited, AK Capital Services Limited and ICICI Securities Limited are the lead managers to the issue while Karvy Investor Services Limited is the co-lead manager to the issue.
The new entity, BBK Geojit Securities KSC, will be headquartered in Kuwait City and will start operations initially with two offices
Geojit BNP Paribas Financial Services Ltd, India, has announced the formation of a joint venture with Bank of Bahrain and Kuwait (BBK) and Kuwait-based JZ Associates LLC. The new entity, BBK Geojit Securities KSC, will be headquartered in Kuwait City and will start operations initially with two offices. The company will meet the needs of the burgeoning non-resident Indian (NRI) population for accessing Indian capital markets. BBK Geojit Securities KSC will offer services including brokerage services, depository services, and mutual funds of Indian stock markets.
This move by Geojit BNP Paribas Financial Services Ltd is in line with its overall strategy of ramping up its presence in the booming Middle East region.
Kuwait, with over 600,000 NRIs, is expected to be a lucrative market for the new venture and plans are afoot to increase its presence to six offices.