Wednesday, December 12, 2012

ICICI Lombard to pay Rs 36.98 Lakh as 


New Delhi: A 40-year-old man, who suffered 90 per cent permanent disability in a road mishap involving a rashly-driven car, has been awarded a compensation of Rs 36.98 lakhs by a Motor Accident Claims Tribunal.
The tribunal directed ICICI Lombard General Insurance Company Limited, with which the offending vehicle was insured, to pay Rs 36,98,911 to city resident Manjeet Singh.
"As per the FIR and charge sheet, the driver was under the influence of intoxication while driving the vehicle.
"The documents of criminal case which have been placed on record are prima facie evidence of the fact that Singh suffered injuries on account of rash and negligent driving of the offending vehicle by the driver," MACT Presiding Officer Harish Dudani said.
Singh told the tribunal that the accident had taken place on the night of July 1, 2009 when a Santro car had hit him as he was crossing a road near Dhaula Kuan here.
He added that due to the impact he sustained grievous injuries and had to be rushed to a nearby hospital.
He said he was rendered paralysed from below the waist, has lost control of his bowel movements and is incapable of working and has been declared to be suffering from 90 percent permanent disability.
Singh also told the tribunal that he was working as a senior programmer with a company here and was earning a salary of Rs 15,570 per month.
The driver and owner of the car, Shaleen Bhatnagar and Mani Padma respectively, contented before the tribunal that the accident had taken place as 
Singh was negligent and careless towards traffic rules.

Insurance firms being probed for evasion of service tax

New Delhi: Several insurance firms and companies are being probed for suspected evasion of service tax and recoveries have been made in some cases, Finance Minister P Chidambaram told Lok Sabha today.
During Question Hour Chidambaram provided a list of such insurance companies and firms which are suspected to have evaded service tax or found after investigations to have engaged in financial wrongdoings.
"In cases where investigation has been completed, show cause notices have been issued. Some cases have been adjudicated and demands of service tax confirmed. Appeals against some orders are pending before the Customs, Excise and Service Tax Appellate Tribunal," Chidambaram said.
He said recoveries have been made in some cases.
"At this stage, it may not be possible to quantify the exact tax liability in each case," he said.
Seven insurance companies were found evading service tax in 2009-10, nine in 2010-11 and ten in 2011-12.
In 2012-13 (up to October) eight companies have been found guilty of service tax evasion.
These are: Bharat Reinsurance Company, IFFCO Tokio General Insurance Services Limited, Apollo DKV Insurance Company Limited, DLF Premierico Life Insurance Company, Aviva Life Insurance Company India Limited, Sri Ram Life Insurance,
Sahara India Life Insurance Corporation, Reliance Life Insurance Company Limited, Chidambaram said in his written reply.

ICICI Lombard to pay Rs 5.13L towards repair of damaged truck

New Delhi: ICICI Lombard General Insurance Co Ltd has been directed by a consumer forum here to pay Rs 5.13 lakh to a policy holder for rejecting his claim against repair charges for his truck damaged in an accident.
The New Delhi District Consumer Disputes Redressal Forum held that the insurance company had relied on the "fabricated" story of its surveyor to reject the policy holder's claim for reimbursement of repair charges for his damaged truck.
"Opposite party (ICICI Lombard) deliberately avoided to make the payment to the workshop owner when insurance was cashless except for the cost of plastic parts which would be borne by complainant (policy holder).
"Further it has been also noticed that opposite party arbitrarily denied the claim under the shelter of fabricated story of surveyor that the driver was different which is totally unlawful, deficiency of service and breach of contract.
"Opposite party is directed to pay Rs 4,63,814. We also award Rs 50,000 as compensation for harassment and litigation expenses to complainant," said the bench of C K Chaturvedi.
The complaint against ICICI Lombard had been filed by Delhi resident Lekh Raj who had said his Tata Truck was insured with the insurance company for the period from March 29, 2008 to March 28, 2009.
His truck was damaged in an accident in May 2008 and when he had sent the invoice of repair charges to the insurance
company, it had rejected his claim and he had to pay for the repairs from his pocket, Raj had said.
ICICI Lombard had contended in its defence that the claim was rejected because its surveyor had told it that the truck
was being driven by someone else and not the person whose license was submitted by Raj in his claim

Life insurance penetration in India higher than global average

New Delhi: The government today said that life insurance penetration in India was higher than the world average in 2010.

"Life insurance penetration in India was higher than the world's average in 2010 and the combined average is higher than Brazil and Russia and most of other countries of Asia including Bangladesh, Pakistan, China and Sri Lanka," Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
"The government periodically receives proposals for providing tax incentives, inter alia, for investments in insurance and mutual funds and examination of such proposals is a part of an on-going process," he added.
In a separate response, Meena said, Irda has informed that no foreign company is presently functioning in India.
However, foreign companies are allowed as joint venture partners in the Indian insurance industry with a Foreign Direct Investment (FDI) cap of 26 per cent and at present 38 private insurance companies are functioning in India along with their joint venture partners, he said.
In another reply, Meena said the pay scales of employees in Public Sector Banks (PSBs) are determined as per the agreement between the management and Associations/Unions every five years.
"Besides the pay, employees in banks are also entitled to a number of other allowances and benefits. The pay scale of the Central Government employees are finalised by Government taking the recommendations of Central Pay Commission into consideration and these pay scales are reviewed generally after ten years," he said.
The terms and conditions of service of Central Government employees and Bank

employees are entirely different and are regulated in terms of the respective service conditions, Meena said, adding that hence, no comparison can be drawn between pay structure of Central Government employees and of bank employees.
To another query, Meena said RBI has initiated several measures to check the menace of counterfeiting of banknotes.
These measures include running education campaigns for members of the public and cash handlers so as to facilitate detection of counterfeits.
RBI has been incorporating new security features and designs in the bank notes to stay ahead of the counterfeiters, Meena said, adding that new security features were added to banknotes in all denominations during the year 2005-06.
Instructions have been issued to banks to disburse only sorted and genuine notes through their counters/ATMs, he added.

Court refuses to quash charges against insurance official

New Delhi: The plea of a private insurance firm official to set aside the charges of cheating several members of a family of over Rs 4.5 lakh has been dismissed by a sessions court.

Additional Sessions Judge Sanjay Garg dismissed the appeal of former Senior Sales Manager Arvind Sagar of Bajaj Alliance Life Insurance Company Ltd, against the trial court's order framing charges of cheating and forgery against him.
According to the prosecution, Sagar had taken Rs 4,69,900 from complainant Sachin Bansal and his family members towards premium of seven insurance policies in 2007.
It said the complainant came to know from the insurance consultant of the company that the accused neither deposited the amount against these policies nor he issued any receipt to them.
Sagar allegedly had later on issued forged and fabricated receipts to the complainant against some of these policies.
The accused had challenged the trial court's order on framing of charges against him on the ground that Bansal was not the victim of any offence because he himself had surrendered the policy and his other family members had taken back the money deposited with the company.
He also alleged that he had resigned from the company in June 2007.
The court rejected his contentions saying that on the basis of the document submitted by the accused, it was not possible to conclude that he did not at all misappropriate any amount against these polices and deposited the requisite amount in the company.
"In view of the aforesaid reasons, I find no illegality and impropriety in theorder of the trial court. Revision petition is found without merit and it is accordingly dismissed," the ASJ said.

Sunday, November 18, 2012

US looks forward to further opening of FDI in insurance:Nancy J PowellGurgaon: The US today said it is looking forward to India opening up its insurance sector further to foreign investors just as it has done in case of FDI in the retail sector.

"We are looking at the expansion of FDI, particularly at expansion of FDI in insurance," US Ambassador to India Nancy J Powell said at the World Economic Forum on India here.
She was responding to a query on the US expectations regarding India's economic reforms going forward.
The bill to increase FDI cap in the insurance sector from 26 per cent to 49 per cent has been pending in the Rajya Sabha since 2008. Last month, the Cabinet had decided to move ahead with its proposal to hike foreign investment ceiling in the sector.
In September, India had relaxed foreign direct investment (FDI) norms in retail sector, allowing foreign retailers to have up to 51 per cent stake in the multi-brand segment. Foreign carriers have also been allowed to invest up to 49 per cent in domestic airlines.
Commenting on the development, Powell said: "The implementation of the ones which have been put forward is going to be very, very key, particularly the state government's response to FDI in multi-brand retail."
She however said it would depend on individual companies decisions and how do they respond to that
"Partnership with Indian companies is going to be very very large one," she added.

India tops life insurance rankings: WEFNew Delhi : India may rank low in terms of overall financial development globally, but it is the world's top-ranked country in terms of life insurance density, the World Economic Forum (WEF) has said in its latest report.

Life insurance density is measured in terms of ratio of direct domestic premiums for life insurance to per capita GDP of a country.
As per WEF's Financial Development Report 2012, India has been ranked 40th in terms of overall financial development of a country, but it is placed better than many larger economies like the US, UK, Japan and China for life insurance density.
India is followed by China, Japan, US and UK in the top-five countries for life insurance density, WEF said.
In terms of non-life insurance density, India is ranked third after China and the US at top-two positions, but is ahead of countries like Germany, France, Japan and the UK.
Global consultancy giant McKinsey said in a recent report that Indian insurance sector is expected to see an exponential growth in 2012 amid increasing household incomes and higher premiums (as a percentage of the GDP).
WEF said its report measures the financial development of 62 countries across various segments of their financial systems and capital markets.
The overall rankings are based on more than 120 variables spanning banking financial services, financial stability and non-banking financial services among other factors.
"Recent empirical research has found a strong positive relationship between insurance sector development and economic growth; this relationship holds quite strongly even in developing countries," WEF said in its report.
"Insurance also creates liquidity and facilitates the process of building economies of scale in investment, thereby improving overall financial efficiency," it added.
Reliance Life Insurance President and Executive Director Malay Ghosh said the country's life insurance industry is one of the fastest growing in the world but remains a highly under-penetrated and untapped market.
"The percentage of young people, the number of people likely to be in their work life in the next few years and the spread of literacy are all set to give a significant fillip to the domestic insurance sector," he said.
Another area where India has been ranked on the top is the output loss during a banking crisis, along side 19 other countries. These 20 countries have been found to have suffered the minimum output loss during any banking crisis.

Friday, November 9, 2012

Election duty: LIC moves HC, says too busy to spare staff

The Life Insurance Corporation of India (LIC) has moved a petition before the Gujarat High Court challenging the orders of the District Election Officers (DEOs) concerned requisitioning its employees for election duty. A division bench has issued notices to the Election Commission and nine DEOs, and kept further hearing on November 8.

According to LIC counsel Maulik Shelat, as per the provisions of Representation of the People Act, such requisition orders can be passed only by the Chief Electoral Officer and not the DEO. Even the EC rules prescribe that employees of LIC should be taken while making sure that their routine work does not suffer, Shelat added. And since they are too busy at present, LIC employees cannot be requisitioned for election duty, he said.
So far, different DEOs have requisitioned more than 1,000 LIC employees for election duty.

Friday, November 2, 2012

General insurers to seek bailout from Finance MinisterMumbai: After life insurers, it’s general insurers who are knocking at the finance minister’s door, calling him to save the industry from a worsening situation.

Finance minister P Chidambaram will meeting general insurers in New Delhi on Monday to understand the problems of the industry.
The Rs 60,000 crore general insurance industry is in crisis as all its vital financial parameters are shaky despite the sector showing a growth of 20-25 per cent in premium collection. Its massive losses (over Rs 10,000 crore in 2011-12) are a result of cut-throat competition post detariffing period, regulated third party motor premium and losses in health insurance portfolio.
The industry has grown four times over the past 11 years but without much success in terms of penetration which is stagnating at 0.65 per cent. It has also seen multiplying underwriting losses.
As many as 21 general insurance companies were in the red in FY11 and FY12 owing to higher motor third party provisioning.
The insurance regulator, Irda, on the basis of a Supreme Court judgment, had asked general insurers to increase their reserve requirement against third party claims in 2011-12. Consequently, the insurers had to bring in higher capital and showed higher losses which would continue for the next couple of years.
Motor insurance which is a loss-making segment for the industry, contributes to approximately 40 per cent of the non-life insurance industry premium. In FY12, motor third party premium comprised 40 per cent of motor insurance premium.
As present, third party (TP) rates which are regulated by Insurance Regulatory and Development Authority are lower than the levels for the general insurers to break even.
“General insurers will urge the FM to remove the administered pricing for motor TP portfolio. They will also point out that under the proposed amendment in the Motor Vehicle Act, insurers have to deposit 50 per cent of the awarded amount with the court as against a maximum Rs 25,000 now which add to their problems,” said an insurance source.
The amendment also seeks to incorporate interest rate at 2 per cent above the bank rate which would increase the claim outgo, thereby further impacting the revenues of the industry.
Health insurers say that there is a need to index insurance pricing to medical inflation and standardise charges across provider network for major diseases.
However, analysts said that general insurers have to blame themselves for their grim situation as they have created the unhealthy competition in the segment post detariffing period.

Saturday, October 27, 2012

HDFC Standard Life Insurance asked to pay Rs five lakhChandigarh: Insurance Ombudsman in Chandigarh has asked private insurer HDFC Standard Life Insurance to pay Rs five lakh with interest to an NRI complainant after holding the company responsible for mis-selling a policy.

"An award is passed with a direction to the insurance company to make payment of Rs five lakh with interest at rate of eight per cent from the date of complaint that is March 2, 2010," said Insurance Ombudsman (Chandigarh), Manik Sonawane in his order.
Mis-selling means deliberate, reckless or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product/service is unsuitable for the customer's needs.
The complainant, Satnam Singh Randhawa, who is working as a driver in USA, had said in his complaint filed in 2010 that he bought life insurance policy from HDFC Standard Life Insurance under single premium mode in 2006 during his visit to India.
He said the agent of the company told him that it was a single premium policy but later on it was found that it was a yearly premium policy with Rs five lakh to be paid annually.
Even the company representative acknowledged during the proceedings that the proposal form was not for single premium policy and Rs five lakh was an annual premium under the said policy.
When Randhawa approached HDFC Standard Life Insurance, he was told that only Rs 2.70 lakh was payable which was not acceptable to him.
Complainant also accused the company of not delivering the policy bond despite several reminders.
The company representative was asked to produce the proof of premium reminder and lapse intimation of the policy sent to complainant that could not be produced, Ombudsman found.
"... during the course of hearing by complainant and representative of company, I am of the opinion that it is a clear case of mis-selling of policy.
"The policyholder is only 8th class pass and is working as a driver in USA and is neither adequately literate to know the intricacies of the policy nor he was explained about factual position. There was inordinate delay in communication with the policy holder.
"No sincere efforts were made by the insurance company in a time-bound manner and the case has been dealt quite casually," Ombudsman wrote in his order.
Notably, mis-selling of insurance policies top the list of complaints lodged by aggrieved customers with the Chandigarh Insurance Ombudsman as it is having over 2,000 complaints pending pertaining to life insurance and non-life insurance products.

Will look at picking up SUTTI stakes if asked, says LICMumbai: LIC today said it has not been approached by the government to pick up the latter's stakes in Axis Bank, L&T and ITC, which are currently held by the Special Undertaking of Unit Trust of India (SUUTI), but added if it is so asked, it will definitely look at it.

"As far as LIC is concerned, we have not been approached (to buy the government's stakes in Axis Bank, L&T and ITC). In case they approach us, we will definitely have a look at it," Corporation Chairman Dinesh Kumar Mehrotra told reporters on the sidelines of a capital markets summit organised by industry body Ficci here.
SUUTI, created in 2002 after the then UTI was wound up,
owns strategic stakes in three listed blue-chip entities: ITC (11.54 per cent), Axis Bank (23.58 per cent) and L&T (8.27 per cent).
Besides, SUUTI also owns significant stakes in unlisted firms such as the Stock Holding Corporation, in which it owns 16.96 per cent valued at about Rs 300 crore.
The government is planning to en-cash these holdings which are worth over Rs 40,000 crore, as part of its efforts at meeting the fiscal deficit target by divestment.
The plan is to sell the SUUTI stakes to an SPV. The SPV holding will not pledge shares but will borrow funds by way of negative liens, under which it cannot sell the shares without the permission of lenders and the government.
When asked about the 10 per cent equity exposure cap, Mehrotra said: "The corporation has been approaching the regulators and the finance ministry on this issue for quite some time. I think, both of them have taken it very positively. Hopefully, something should come and we will get some headroom".
LIC, which had bailed the government last March when the follow-on option of ONGC was bombed by picking up almost the entire stake worth over Rs 12,000 crore, plans to invest Rs 2.4 lakh crore this fiscal.
"We propose to invest Rs 2.4 lakh crore this fiscal and have invested Rs 65-70,000 crore so far," Mehrotra said, adding of the total investment, 10-15 per cent constitute pure equity investments out of which it has invested Rs 7,000-8,000 crore as of now.

ING to sell Malaysian insurance unit to AIA

HONG KONG/AMSTERDAM: Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets.

The sale of the Malaysian unit is expected to be followed soon by the divestment of ING's Japan, South Korea, Hong Kong and Thailand units, as the bailed-out Dutch financial firm offloads assets to repay 10 billion euros ($12.9 billion) in state aid received during the 2008 financial crisis.
For AIA, the purchase of the Malaysian operations marks its second M&A deal in less than a month, and gives it a leading position in the fast growing Southeast Asian economy.
AIA was spun out of U.S. insurer AIG in 2010 through a $20.5 billion IPO, and Hong Kong-based CEO Mark Tucker has been re-building the business after it lost agents and market share amid AIG's near collapse during the financial crisis.
It's a good deal and they are paying up to buy a good quality business and to expand into a rapidly growing market, said Credit Suisse analyst Arjan van Veen, describing ING's Malaysian business as the jewel in the crown.
AIA said it was paying a multiple of about 1.8 times embedded value for the Malaysian business, compared with AIA's own multiple of 1.5 times. Embedded value is a common measure for insurance companies and includes the present value of future profit from long-term insurance contracts.
This is immediately accretive to earnings. It is cash positive, AIA Chief Executive Mark Tucker told reporters on a conference call on Thursday.
Van Veen estimated the deal would add 5 percent to AIA's earnings per share.
The deal, which confirmed a report by Reuters on Wednesday, marks ING's first sale after it announced plans to auction its Asian insurance operations in January as part of a global asset sell-off programme.
ING originally wanted to sell its entire Asia insurance operation, with a book value of 6.1 billion euros, to one buyer but said it was willing to split up the business if it could raise more money that way.
Today's announcement is the first major step in the divestment of our Asian insurance and investment management businesses and shows that ING continues to make steady progress in the restructuring of our company, said Jan Hommen, chief executive, in a statement.
ING's Southeast Asian operations attracted bidding interest due to the region's rapid growth potential. Life premiums in Malaysia are forecast to grow at 5.5 percent next year, compared with a world average of 3.7 percent, according to Swiss Re estimates. The race to buy ING's Japan, Hong Kong and much smaller Thailand operations is still on, with Canada's Manulife Financial Corp and Hong Kong business tycoon Richard Li in the running, a source told Reuters earlier.
KB Financial Group is in advanced talks to buy ING's South Korean operations, sources have told Reuters.
AIA said the Malaysian deal, which is subject to regulatory approval, would boost its ranking in Malaysia to No. 1 by total premiums.
It's an excellent strategic fit with AIA and it plays directly to our corporate strengths and priorities, Tucker said. Clearly this is one of Southeast Asia's most attractive growth markets.
The deal would also strengthen AIA's bank distribution channel, an area analysts believe AIA needs to beef up. The acquisition would be funded through internal cash resources and debt financing, AIA said.
AIA also announced a 22 percent rise in its value of new business (VONB) to $300 million and said its VONB margin had increased to 42.6 percent, up 11 percentage points from the same period a year earlier.
Last month, AIA agreed to buy British insurer Aviva Plc's  Sri Lankan operations for $109 million..
ING's Malaysia business sells life, general, and Islamic insurance products and has about 1,200 employees and over 1.6 million customers. ING said it expects a net gain of about 780 million euros from the transaction, which is expected to close in the first quarter 2013.

Friday, October 26, 2012

Complaints: Insurance mis-selling tops

Chandigarh : Mis-selling of insurance policies and delay in claim settlements top the list of 2,341 complaints lodged by aggrieved customers with the Chandigarh Insurance Ombudsman.

"We have received maximum complaints against insurance companies pertaining to mis-selling of insurance products followed by delay in settlement of claims," an official of Insurance Ombudsman said here. Out of pending 1,544 complaints with regard to life insurance, about 80 per cent complaints are against private life insurers, he said.
Chandigarh Insurance Ombudsman has jurisdiction over Punjab, UT Chandigarh, Jammu and Kashmir, Himachal Pradesh and Haryana.
"There are maximum cases in which insurance customers have complained that they had been sold policies by saying that it was single premium 'Fixed Deposit' scheme with high returns.
"But to their utter shock, customers found from the policy (document) that they would now have to pay premium for several years, rather than paying once. Such kind of cases fall in the category of mis-selling," official said.
It also came to notice through complaints that customers were deliberately being denied of the 'free look' period option by unscrupulous agents so that customers were left with no other option than continuing with the policy.
"There is a Free Look period of 15 days given by the insurance companies whereby customer can return the policy within 15 days from the date of receipt of insurance policy," official said.
Delay in settlement claims and non-issuance of insurance documents after payment of premium are other types of complaints which were lodged by customers.

Sunday, October 21, 2012

SBI Life told to distribute excess payments to policyholders

New Delhi: Insurance sector regulator IRDA has directed SBI Life Insurance Company to distribute the "wrongful" component of administrative charges it paid as reimbursement of group expenses to commission agents to the members or beneficiaries of the concerned policies.

As per the guidelines, life insurers are not allowed to pay towards management expenses, documentation expenses, profit commission, bulk discount or any other payment to the agent, corporate agent, group organiser or group manager.
SBI Life Insurance had made certain payments towards reimbursement of group administrative expenses to various master policy holders, which were in "violation" of IRDA guidelines and for which it was imposed a penalty of Rs 70 lakh in July, 2011.
"For this purpose (distribution), recalculate the premium chargeable for each member of each Group Insurance Scheme of the Life insurer without taking into consideration 20 per cent of premium that is paid to Master Policy Holders," Insurance Regulatory Authority of India (IRDA) said in its directive.
"Distribute the wrongful administrative charge amongst the respective members/beneficiaries of each Master Policy by way of refund...," it added.
The schemes in question included 'Super Suraksha' policies on home, car and tractor loans.
The regulator said these payments to master policyholders were not in the interest of the general policyholders.
IRDA directed SBI Life to identify the member or beneficiaries for each master policy, against which reimbursement were made towards administrative expenses as a
percentage of premium.
IRDA said the directives should be immediately initiated and be completed within six months.
SBI Life Insurance is a joint venture between State Bank of India and France's BNP Paribas Cardif. SBI owns 74 per cent of the total capital, while the French insurer owns the rest.

IRDA slaps penalty of Rs 76 lakh on Metlife

New Delhi: Insurance regulator IRDA has imposed a penalty of Rs 76 lakh on Met Life India Insurance Company for violation of various regulations, including gaps in policy administration system.

"...I hereby direct the insurer (Met Life) to remit the penalty of Rs 76 lakh, by debiting share holders' account ...," the order signed by IRDA chairman J Harinarayan said.
Among 42 charges against the insurer, one was releated with floating contests for the referral partners and expenses incurred.
IRDA found that "there are 5 instances of such wrong payments" and imposed a penalty of Rs 5 lakh for each instance amounting to Rs 25 lakh.
One charge related with defects in the policy administration system resulting in wrong unitisation of premium in respect of Unit Linked Policies.
On this count, IRDA said: "...the serious gaps in the defective policy admin system are considered as a serious violation impacting the financial interests of policy holders and under powers vested in the provisions of Section 102 of the Act a penalty of Rs 20 lakh is imposed for this violation".

Three PSU insurance firms get new CMDs

Mumbai: The Central government has effected a top-level reshuffle among the CMDs of public sector insurance companies on Thursday. G Srinivasan, CMD, United India Insurance who has been at the helm of the company for the last four years has been shifted to head the largest general insurance company — New India Assurance.

Srinivasan belongs to New India Assurance and is the senior most CMD among the heads of state-owned general insurers.
Miland Khrat, acting CMD of Agriculture Insurance Company (AIC), will succeed Srinivasan at United India Assurance.
PJ Joseph, general manager, United India Assurance who was earlier shortlisted as a candidate to be promoted to head a general insurer has been posted as the new CMD of AIC.
The government has issued the letters for the new appointments by Thursday evening. It is almost after a year that New India Assurance would function with a full-time chairman and managing director

Monday, October 15, 2012

ICEU Chennai Division-I conference Photos(13.10.2012/14.10.2012