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Monday, February 04, 2013

Life insurers see 4% growth in premium in Apr-Dec ’12

Life insurance companies have registered a nominal growth of 4 per cent in the first three quarters of financial year 2012-13 (FY13), against the same period of FY12. The total premium collection from the individual segment by 24 life insurers stood at Rs 40,688 crore in April–December 2012 period, compared with Rs 39,131 crore in the same period last year. Public sector insurer Life Insurance Corporation of India (LIC) witnessed a 11.3 per cent growth in the retail segment, with collection of Rs 28,017 crore during April–December 2012, compared with Rs 25,174 crore in the same period last year.

While private sector insurers witnessed a negative growth of 9.2 per cent with the individual premium collection of Rs 12,671 crore during April–December 2012, against Rs 13,957 crore in the corresponding period last year. Among the private sector insurers, ICICI Prudential Life Insurance collected highest premium of Rs 2,133 crore in April–December 2012 period, against Rs 2,009 crore in the corresponding period last year, with growth of 6.2 per cent. HDFC Standard Life collected premium of Rs 2,015 crore during April – December 2012, against Rs 1,820 crore in the corresponding period last year, registering growth of 10.7 per cent.

Although SBI Life Insurance stood third among private sector insurers with a collection of Rs 1,694 crore during April–December 2012, they witnessed a negative growth of 19 per cent over previous years’ collection of Rs 2,091 crore. Max Life Insurance registered a marginal drop of 1.6 per cent with premium collection from the retail segment of Rs 1,159 crore, compared with Rs 1,178 crore in the corresponding period of FY12. “Earlier this financial year, norms had been changed for traditional products and some insurers had to modify their products according to new tax regulations.

Moreover, we have also seen decrease in domestic saving coming into financial instruments over the past two years,” said Rajesh Sud, chief executive officer and managing director of Max Life Insurance. In regular premium policies, insurers have registered a 8.2 per cent growth, with collections of Rs 30,170 crore during April–December 2012, against Rs 27,893 crore in the corresponding period last year. LIC collected Rs 19,123 crore during April–December 2012, compared with Rs 17,142 crore in the corresponding period last year, witnessing a growth of 11.6 per cent.

ICICI Prudential collected Rs 2,057 crore during April–December 2012, compared with Rs 1,812 crore in the corresponding period last year, registering a growth of 13.5 per cent. Total premium collection from single premium policies stood at Rs 10,518 crore during April– December 2012, against Rs 11,238 crore in the corresponding period last year, registering a negative growth of 6.4 per cent. LIC collected single premium of Rs 8,894 crore in April–December 2012 period, against Rs 8,032 crore in the same period previous year, witnessing a growth of 10.7 per cent. Private insurers registered a negative growth of 49.3 per cent, with collection of Rs 1,625 crore during April–December 2012 period, against Rs 3,206 crore in the corresponding period last year.
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HDFC Mutual Fund announces dividend in two schemes

Record date for dividends is 07 February 2013 

HDFC Mutual Fund has announced 07 February 2013 as the record date for declaration of dividend under the dividend options and direct plan – dividend options of HDFC Premier Multi-Cap Fund and HDFC Long Term Advantage Fund. The amount of dividend will be Rs. 1.50 per unit on the face value of Rs 10 per unit for the HDFC Multi-Cap Fund scheme each option and Rs. 4.00 per unit on the face value of Rs. 10 per unit for the HDFC Long Term Advantage Fund scheme each option.
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Tata Balanced Fund announces dividend

Record date for dividend is 08 February 2013 

Tata Mutual Fund has announced 08 February 2013 as the record date for declaration of dividend under the Plan A and Direct Plan of the monthly dividend option of the Tata Balanced Fund. The amount of dividend will be Rs. 0.35 per unit on the face value of Rs. 10 per unit under each plan.
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Reliance Mutual Fund announces dividend under two schemes

Record date for dividend is 08 February 2013 

Reliance Mutual Fund has announced 08 February 2013 as the record date for declaration of dividend under the dividend plans of the Reliance Top 200 Fund and Reliance Regular Savings Fund. The dividend will be Rs. 1.40 per unit on the face value of Rs. 10 per unit under both the schemes.
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Franklin India Bluechip Fund announces dividend

Record date for dividend is 08 February 2013 

Franklin Templeton Mutual Fund has announced 08 February 2013 as the record date for declaration of dividend under the dividend plan and Direct - dividend option of the Franklin India Bluechip Fund. The amount of dividend will be Rs. 4.00 per unit on the face value of Rs. 10 per unit under each the options.
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HDFC FMP 1198D February 2013 (1)

NFO Period from 04 February to 12 February 2013 

HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 1198D February 2013 (1) a close-ended income scheme. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 04 February and will close on 12 February 2013. 

The investment objective of the plan is to generate regular income through investments in debt / money market instruments and government securities maturing on or before the maturity date of the plan. 

The plan shall offer two options - growth and dividend option. 

The plan would invest 80% to 100% of assets in debt instruments with medium risk profile. On the other side it would allocate upto 30% in money market instruments and government securities with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. 

Entry and exit load charge will be nil for the plan. 

Benchmark Index for the plan is Crisil Composite Bond Fund Index 

The fund managers of the scheme will be Shobit Mehrotra and Rakesh Vyas.
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ICICI Prudential Mutual Fund announces dividend under various schemes

Record date for dividend is 08 February 2013 

ICICI Prudential Mutual Fund has announced 08 February 2013 as the record date for declaration of dividend under the dividend options of the following schemes. The recommended rate of dividend on the face value of Rs. 10 per unit will be: 

ICICI Prudential Multiple Yield Fund - Series 2 -Plan D: Rs. 0.5270 per unit 

ICICI Prudential Fixed Maturity Plan Series 61- 1 Year Plan A: Rs. 0.05 per unit and 

ICICI Prudential Tax Plan – Regular Plan: Rs. 2.00 per unit 

ICICI Prudential Fixed Maturity Plan Series 61- 1 Year Plan A will mature on 08 February 2013 and accordingly trading in the units of the scheme on BSE will be suspended from the close of trading hours on 05 February 2013. The record date for determining the beneficial owners who would be entitled for redemption proceeds will be 08 February 2013.
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