Insurance stocks rally 3-20% on premium collections data, SBI Q2 numbers New India Assurance Company was locked at 20 percent upper circuit at Rs 113.75, but ICICI Lombard General Insurance Company fell 6 percent following premium collections data.
Q2 preview: Drop in auto sales to impact non-life insurers Since motor is the largest portion of the non-life industry’s premium, a dip in the automobile sales has a direct impact on premium collection
Stocks in the news: Hindalco Industries, UCO Bank, Orient Cement, Dhampur Sugar, New India Assurance Sintex Plastics Technology | Hindalco Industries | UCO Bank | Dhampur Sugar and New India Assurance are stocks, which are in news today.
New India Assurance signs inter-creditor agreements for exposure to Reliance Home Finance, Dewan Housing Finance This is the first instance of an insurance company entering into ICAs for debt resolution.
EY suggests merger of National Insurance, United India & Oriental Insurance within 18 months The merger is unlikely to lead to a significant number of layoffs, since all three firms have reduced recruitment and are operating with an optimal workforce