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Fall in forward premiums adds to Indian rupee's challenges
The Indian rupee, already under pressure from high U.S. Treasury yields and volatile oil prices, is now having to contend with a drop in forward premiums, owing to worries over dollar liquidity. Key Points
ReutersRupee flat, far forward premiums extend decline to 2-1/2-month low
By Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee was largely flat on Wednesday as sustained dollar inflows helped ease the pressure from weakness in most Asian currencies. The rupee was at 82.90 Key Points
ThePrintRupee hits three-week low, forward premiums at lowest since 2011
The Indian rupee declined to a three-week low on Thursday, pressured by a strengthening U.S. dollar, while far forward premiums were hovering near the lowest level since 2011. Key Points
ReutersBribes and premiums to BMC push Mumbai property prices higher than in Dubai
Real estate buyers in Mumbai are facing exorbitant charges and bribes from authorities, making the already expensive city even more costly. Builders are forced to pay significant bribes to obtain building permissions, resulting in inflated prices for buyers. Some argue that there is no justification for Mumbai's real estate prices being higher than those in Dubai. Key Points
Economic TimesIndia's SBI Life reports 45% rise in Q1 profit on higher premiums
India's SBI Life Insurance Co (SBIL.NS) reported a 45% surge in its first-quarter profit on Tuesday, aided by higher income from premiums. Key Points
Reuters
Life insurers sector reports 13.16% growth in new premiums for October; new policy issuances drop 41.6%
New Delhi [India], November 9 (ANI): The Indian life insurance sector recorded a robust year-on-year (YoY) growth in new business premiums (NBPs) for October 2024, with premiums increasing by 13.16 per cent compared to the same period last year, Life Insurance Council observed in its October 2024 business report. NBP collections surged from Rs 26,819.01 […] Key Points
ThePrintGST Council forms GoM to review tax rate on health, life insurance; report by Oct 30
The GST Council has formed a 13-member Group of Ministers to recommend GST rates on health and life insurance premiums. Bihar Deputy Chief Minister Samrat Choudhary will lead the panel, which includes members from various states. The group is expected to submit its report by October 30, with a final decision likely in November. Key Points
Economic TimesPotential stars of next rally are top MF buys in November
Analysts say that insurance cos have managed to increase premiums on most of their existing policies by 20-30%. Given this increase, the profitability of insurance companies is likely to improve in the coming quarters, making current valuations attractive. Key Points
Economic TimesAXA's nine-month sales match expectations, 2023 target on track
AXA (AXAF.PA), Europe's second-biggest insurance company, posted nine-month sales that met analyst expectations on Thursday, driven by higher premiums at its property and casualty division. Key Points
ReutersRupee gains for second day tracking Asian peers; premiums inch up
The Indian rupee rose for a second straight session against the U.S. dollar on Tuesday, mirroring similar moves in Asian peers, as risk appetite in the region rose on fresh bets of the Federal Reserve nearing the end of its rate tightening cycle. Key Points
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Indian importers must hedge near-term exposures on USD rally risk - analysts
Indian importers should hedge their near-term foreign currency payments on expectations that the U.S. dollar will rally in the next quarter on the back of more Federal Reserve rate hikes, several analysts said. Key Points
Reuters