Swiss Re moves IRDA to open branch
New Delhi: If global reinsurance majors have their way, there might never be a second Indian reinsurer to give company to the General Insurance Corporation, the sole reinsurance company on Indian insurance turf.

A section of the foreign reinsurers are now lobbying with Indian authorities to do away with the legal pre-requisite of promoting a joint venture company to enter the Indian insurance market.
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Corporation Bank meet on life insurance
Mangalore: Corporation Bank conducted a workshop on "Life insurance'' for its branch managers at the corporate office here on Monday.

Inaugurating the workshop, the Manager of the Hyderabad zone of Life Insurance Corporation of India, Mr L.K. Dash, explained the intricacies involved in the distribution of life insurance products and urged participants to emphasise on procuring quality business and developing skills for marketing insurance products.
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RIB redemptions may not impact liquidity
Mumbai: Although anxiety over the impending Resurgent India Bond redemptions have been bogging down bond prices by around 15-30 paise across maturities over the past week, bankers now feel that redemptions are unlikely to have any long-term impact on market liquidity. "Dollar inflows are still coming in. The rupee has recovered back to 45.75 today and there is still ample liquidity in the bond market. The redemptions are not expected to be a major problem'', said Mr Shah Rukh Wadia, Head-Treasury, IndusInd Bank.
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Metlife Hikes Capital Base To Rs 160 Crore
Bangalore: Metlife India Insurance Company has increased its capital base by another Rs 50 crore to taking the total capital base to Rs 160 crore. The increase in capital base will not have any impact on the current shareholding pattern in the company.
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Madras HC Bench stays order on IOB staff dismissal
Chennai: The First Bench of the Madras High Court has stayed the operation of the order of the single judge quashing the order of the management of the Indian Overseas Bank dismissing an employee on disciplinary grounds.
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UAE Central Bank offers help in curbing money laundering
Dubai: Following the successful implementation of stringent measures by the UAE in recent years to curb money laundering, the UAE Central Bank has offered to help developing market countries to set up the legal, regulatory and policing structures necessary to maintain the international fight against money laundering and terrorism financing.
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