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Universal Sompo Q1 results: Net profit grows 165% to Rs 46 crore as gross premiums rise 17%The company said its loss ratio improved by 2.58% to 78% as compared with 80.58% in the year ago period, mainly due to improvements in heal...- Indian Bank to rope in minority partner to revive Ind Bank HousingThe bank has three subsidiaries including Universal Sompo General Insurance and Ind Bank Merchant Banking Services.
- Customers won't face any disruption post Allahabad Bank merger: Indian BankThe merger is part of the government's mega consolidation plan to amalgamate 10 state-run banks to create four global-sized lenders, beginn...
- Stocks in the news: Bharti Airtel, YES Bank, Infosys, Reliance Infra and Allahabad BankBharti Airtel's $3 billion fundraising exercise has been subscribed more than three times.
- Allahabad Bank in talks with Sompo to sell its stake in insurance JVAllahabad Bank and Indian Bank will be merged from April as part of the mega merger exercise.
- Allahabad Bank looks to sell stake in Universal SompoAt present, Allahabad Bank holds 28.52% in the JV while overseas partner Sompo Japan is the largest shareholder with 34.61% interest.
- Allahabad Bank, IOB's stake sale in Universal Sompo General Insurance gathers paceThe general insurance firm is now busy working on a future business plan as a pre-requisite for valuation.
- Sompo Japan to buy 6% more in Universal Sompo from Karnataka Bank for Rs 125 croreSompo would buy the stake from Karnataka Bank, which holds 14.26% in the joint venture, Universal Sompo chairman O N Singh said.
- Universal Sompo’s rights issue: Promoter banks stay awaySompo holds 26 per cent in the general insurance joint venture.
- Universal Sompo General Insurance to raise Rs 100 crore via rights issueThe issue is priced at Rs 55 per shares, including face value of Rs 10.
- Allahabad Bank to sell its 30% stake in Sompo InsuranceBank’s CEO says the insurer may get listed after 2 years, a good time for them to exit.
- Universal Sompo seeks to extend ON Singh's tenure againON Singh is slated to become the non-executive chairman of the company as per its new management policy.
- IRDAI asks Universal Sompo General Insurance's Japanese MD to step downSources in Universal Sompo said that the IRDAI directive might put the company’s day-to-day operation in bind in the absence of an MD.
- Allahabad Bank to hire a consultant for insurance JV adviceAllahabad Bank has decided to hire a consultant to advise it on its proposed stake sale in the insurance joint venture Universal Sompo Gene...
- Allahabad Bank may sell stake in insurance companyThe bank's board will meet on Friday to consider selling a part or all of its 30% stake in Universal Sompo General Insurance.
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