SBI Life - Sabse Bada Income !!!

Well ..... SBI still stands for State Bank of India ... but the way they have posted their profit and growth, I feel the new expansion - "Sabse Bada Income" suites more :)

SBI Life Insurance has posted a whopping Rs 276 crore net profit in 2009-10, as against a net loss of Rs 26 crore in the previous year.

The private life insurer crossed the Rs 10,000 crore mark in gross written premium, growing by over 40% during the year. Its assets under management jumped 96% to Rs 28,551 crore and new business annualised premium equivalent (APE) rose 37% to Rs 6,358 crore. It reported a 31% rise in new business premium of Rs 7,040 crore.

Read more - SBI Life swings to big profit
Source - http://www.dnaindia.com/

So... how much commission my agent is getting ?!!

No kidding.. as per the IRDA new circular, Life insurance firms will now have to spell out to customers the commission they pay to agents on each policy. This will be effective July 1, 2010.
Guess what ..?! customers will start asking more cut on the premiums they pay :) !!!

Read on more on - Disclose agent commissions to customers: IRDA
Source: http://economictimes.indiatimes.com

Goldman Sachs charged with fraud by SEC

The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

Read on: Goldman Sachs charged with fraud by SEC
Source: MSN News