Star Union Dai-ichi launches Suraksha Kavach

Suraksha Kavach offers features that allows the policyholder to continue life cover up to three years from the date of first unpaid premium, should there be a need to take a break from premium payment

Star Union Dai-ichi Life Insurance has launched an endowment insurance plan, Suraksha Kavach, to strengthen and extend its portfolio.

Suraksha Kavach offers features that allows the policyholder to continue life cover up to three years from the date of first unpaid premium, should there be a need to take a break from premium payment.

Under this benefit, a policyholder may take a break from premium payment anytime after paying at least two full years' premiums. The life insurance cover will continue for three more years.

The policy is for ages of 18 to 50 years, while the maximum maturity age limit stands at 65 years. The company also launched an online customer portal, E-life, which allows customers to directly connect with the company for managing their insurance policy online and SMS support service for customers.

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COMMENTS

jitendar gandhi

5 years ago

The same product already exists in LIC stable for so many years under the name NEW JANRAKSHA policy (T No.91)and there is nothing new in it.

Reliance MF pips HDFC MF on profits; slips on assets

The profit after tax of Reliance Assset Management Co, which runs Reliance MF stood at Rs261 crore, while that of HDFC AMC was Rs 242 crore at the end of March 2011

Reliance Mutual Fund has overtaken rival HDFC MF in terms of full-year profits, but has slipped below the latter to the second position in terms of their latest assets base.

The average asset under management (AUM) of Anil Ambani group firm Reliance Mutual Fund dipped by over Rs10,500 crore during the three-month period ending September 2011, making it the second-largest fund house after HDFC MF.

However in terms of profitability, Reliance MF clocked a higher profit after tax than HDFC MF in the latest financial year, becoming the most profitable fund house in the country, according to data released by mutual fund industry body AMFI.

The profit after tax (PAT) of Reliance Assset Management Co, which runs Reliance MF stood at Rs261 crore, while that of HDFC AMC was Rs242 crore at the end of March 2011. In the previous year, HDFC AMC was the country's most profitable fund house.

On year-on-year basis, Reliance Asset Management company's PAT rose by as much as 34% in the fiscal 2011, whereas that of HDFC AMC increased by 16.34%.

On the other hand, Reliance MF lost its top position as its asset base fell to Rs90,660.60 crore, according to the quarterly data compiled by AMFI. It was over Rs1.01 lakh crore at the end of June quarter.

Sundeep Sikka, CEO of Reliance Capital Asset Management Company, said that the fund house was mainly focusing on retail money and less on institutional money.

"Retail money though is expensive in the initial stage (for the fund house), it adds to the quality of the AUM and the profitability of the company in the long run," he added. "We have more than 21 lakh systematic investment plans for which we are getting Rs5,000 crore per annum and this money is majorly adding to our profitability," Sikka said.

HDFC Mutual Fund has now become the largest fund house in the country in terms of AUM. At the end of September, the AUM of HDFC MF stood at Rs91,827.11 crore.

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Indian M&A deals down by 56% to $5.91 billion in Q3

The mining sector accounted for the lion's share of M&A deals during the quarter in terms of value, primarily due to two large outbound transactions. The telecom industry was the second-most targeted sector, while the power and energy sector saw the third-highest transaction value

New Delhi: The value of merger and acquisition (M&A) deals involving Indian companies witnessed a 56% decline year-on-year to $5.91 billion in the third quarter of 2011, reports PTI quoting a report by global consultancy firm Grant Thornton.

Though the total value of merger and acquisition (M&A) deals in the third quarter this year dropped by 56.25%, there was an increase in the number of transactions, according to the latest issue of Grant Thornton's 'Dealtracker' report.

Commenting on the findings, Grant Thornton India partner and practice leader, valuations, Srividya CG said: "There has been a trend reversal, with a higher proportion coming from outbound deals, unlike the first half of the year."

During the third quarter of this calendar year, there was a significant increase in cross-border transactions, wherein 63 such deals worth $4.88 billion were announced, accounting for over 80% of the total value of M&A deals.

Meanwhile, there were 86 domestic deals worth $1.03 billion during the quarter.

The trend was exactly opposite last year, wherein domestic deals worth $11.69 billion were announced and cross-border deals were valued at just $1.82 billion.

"While cross-border transactions have shown growth, there is a considerable decline in domestic M&A. However, there is an increase in the overall activity, which is seen by an increase in the number of M&A transactions," Ms Srividya said.

An industry-wise analysis shows that the mining sector accounted for the lion's share of M&A deals during the quarter in terms of value, primarily due to two large outbound transactions. The telecom industry was the second-most targeted sector, while the power and energy sector saw the third-highest transaction value.

Out of $4.88 billion worth of cross-border deals in the third quarter of 2011, the total value of outbound deals-Indian companies acquiring or merging with businesses outside India-was $3.69 billion (via 29 deals), five times more than the year-ago period in terms of value, Grant Thornton said.

In the corresponding period last year, 39 outbound transactions worth $0.63 billion were announced.

Meanwhile, the total value of inbound deals-foreign companies or their subsidiaries acquiring or merging with Indian businesses-in the third quarter was $1.19 billion through 34 deals, Grant Thornton added.

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