SBI Life Insurance Registers New Business Premium of Rs. 8,998 Crore in FY02, 2020

SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of Rs. 8,998 crore for the period ended on 30th September, 2020 vis-a-vis Rs. 7,817 crore for the period ended September 30, 2019. Single premium has increased by 54% over the corresponding year.

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at Rs. 910 crore for the period ended September 30, 2020. Protection Individual new business premium registered a growth of 13% and stood at Rs. 267 crore for the period ended September 30, 2020. Individual New Business Premium stands at Rs. 4,206 crore.

SBI Life’s profit after tax stands at Rs. 691 crore for the period ended September 30, 2020 registering a strong growth of 38% over the corresponding year.

The company’s solvency ratio continues to remain robust at 2.45 as on September 30, 2020 as against the regulatory requirement of 1.50.

SBI Life’s AUM also continued to grow at 20% to Rs. 1,86,360 crore as on September 30, 2020 from Rs. 1,54,758 crore as on September 30, 2019, with the debt-equity mix of 76:24. 90% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 2,07,520 trained insurance professionals and wide presence with 947 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, micro agents, common service centers, insurance marketing firms, web aggregators and direct business.

Performance for the period ended September 30, 2020

·  New Business Premium (NBP) increased by 15%

·  Private market leadership in Total NBP with 24.5% market share

·  Private market leadership in Individual Rated Premium (IRP) with 20.7% market share

·  Decrease in Operating expense ratio from 6.4% to 5.4%

·  Increase in Persistency: 25th month by 147 bps to 78.83% & 61st month by 339 bps to 60.87%

·  Increase in Profit after tax by 38% to Rs. 691 crore

·  Increase in Value of New Business Margin by 70bps to 18.8%

·  Indian Embedded Value (IEV) increased by 21% to Rs. 29,861 crore

Tata Motors Bags the Prestigious Order of 6413 Vehicles from Andhra Pradesh State Civil Supplies Corporation

 

Key Highlights:

·         Largest order till date from Andhra Pradesh State Civil Supplies Corporation

·         The vehicles will be used for doorstep delivery of supplies in the state of Andhra Pradesh

·         Tata Ace Gold emerged as the top bidder for its low cost of operations, durability and versatility

Tata Motors, India’s largest commercial vehicle manufacturer, today announced that it has bagged the prestigious order of 6413 vehicles from Andhra Pradesh State Civil Supplies Corporation. Tata Motors emerged as the top bidder, as per the terms and conditions of the government body, and will be delivering the fully-built Tata Ace Gold vehicles. The vehicles are to be used as mobile dispensing units for the doorstep delivery of supplies in the state of Andhra Pradesh, and will be customised by Tata Motors to perfectly suit the application. The Tata Ace Gold was chosen for its value-for-money, low cost of operations, durability and versatility. The e-bidding process was carried out through the Government e-Marketplace.

On the momentous occasion, Mr. Vinay Pathak, Vice President, Product Line, SCV & PU, Tata Motors, said, “We’re delighted to be associated with Andhra Pradesh Civil Supplies Corporation. It is one of the most prestigious orders we have won till now, and we will not only be delivering the customised, fully-built Ace Gold mini trucks, but also be helping the corporation in the comprehensive maintenance of the vehicles. It gives me immense joy to see that our upgraded range of BS6 vehicles are extremely well received by the customers, be it private owners or government bodies.”

The Tata Ace Gold is available in diesel, petrol and CNG BS6-compliant engine options to cater to the evolving needs of the customers, and is seen as a great value-for-money product by its owners because of its reliability, durability and versatility. The Tata Ace is known for its ability to earn more for its owners, low maintenance and operating costs, high resale value and good driving comfort. The Tata Ace brand celebrates its 15th anniversary and has remained the customers’ no. 1 choice throughout that period. It has emerged as the trusted partner for more than 22 lakh entrepreneurs and happy owners till date.

About Tata Motors

Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 35 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. Part of the USD 113 billion Tata group, Tata Motors is India’s largest and the only OEM offering extensive range of integrated, smart and e-mobility solutions. It has operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on March 31, 2020.

With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, Tata Motors is India’s market leader in commercial vehicles and amongst the top four in the passenger vehicles market. With ‘Connecting Aspirations’ at the core of its brand promise, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, UK, US, Italy and South Korea. Internationally, Tata commercial and passenger vehicles are marketed in countries, spread across Africa, the Middle East, South Asia, South East Asia, South America, Australia, CIS, and Russia.

Chitradurga MLA Lauds Vedanta for infrastructure Developments at Malapanahatti Village

 - As a part of CSR program, Vedanta Iron ore Karnataka Division constructed Community Hall at Malapanahatti village in order to upgrade village infrastructure.

Vedanta's Iron Ore Karnataka Division has constructed community hall at Malapanahatti village with an aim to upgrade the village infrastructure to facilitate community events and engagement programs. The community hall was inaugurated by Shri. G.H.Thipparedyy –MLA, Chitradurga in distinguished presence of Smt. Shashikala Suresh Babu – President, Zilla Panchayath, Chitradurga, Shri. Krishna Reddy- Director – Vedanta ,Iron Ore Karnataka, A. Eshwarappa – President – Shri Marikamba samudaya Bhavana, Malapanahatti and other panchayat members of Jolaghatta GP.

Infrastructure development is one of the major thrust area of CSR intervention at Vedanta. The community hall constructed at Malapanahatti, is handed over to the village panchayat for the long term benefits of the villagers. The Vedanta's initiative is well appreciated by villagers and panchayat members of the Malapanahatti village.

Speaking on the occasion, Chief Guest, G.H.Thipparedyy –MLA, Chitradurga lauded the Vedanta's initiative and Said" I appreciate Vedanta for this infrastructure development initiative at Malapanahatti village which will be helpful to the village community. I urge villagers and gram panchayat to optimally make use of the facility and collaboratively work towards the holistic development of the village".

Expressing his views about the CSR initiative, Mr. Sauvick Mazumdar, CEO, Vedanta Sesa Goa Iron Ore Business quoted "Our constant endeavor is to ensure the community development through robust & sustainable CSR interventions in order to contribute towards the larger goal of Nation building. In line with our core philosophy of Care, We strive hard to create the maximum value for all our stakeholders and create the conducive environment for sustainable growth".

While addressing the gathering during inauguration ceremony, Mr. Krishna Reddy- Director – Vedanta, Iron Ore Karnataka Business said "At Vedanta we are committed to the holistic development of communities through our structured CSR interventions. We strongly believe that community engagement is our top most priority and integral to our business philosophy. We will continue to contribute towards Socio-Economic upliftment of communities around, through all possible means."

Vedanta Iron Ore Karnataka has introduced several high impact CSR initiatives across Chitradurga district, such as Nandghars, Alternative Livelihood Opportunities Project (ALOP), Vedanta Girl's scholarship, Evening study centers etc.  Which are benefitting all the sections of the communities.

FanCode Acquires FanDuniya and Strengthens its Sports Data and Statistics Offering

FanCode, India’s first digital sports fan destination, has acquired FanDuniya, a sports research platform, to accelerate the growth and development of its comprehensive multi-sports research and statistics service for all sports fans. FanCode currently provides access to credible sports data and statistics for sports fans and fantasy sports users through Fantasy Research Hub (FRH). FanDuniya was founded by Viswanath K and Ramkumar V in 2019 to provide meaningful statistics assistance for fantasy sports players.

As part of its sports data and statistics offering, FanCode provides easy access to a plethora of information and data on sports leagues, teams and players for sports fans and fantasy sports users. Match previews, venue details, pitch reports, weather forecasts, player performances and even post-match analysis are some of the research categories available for sports fans. There are about 20 experts on-board with FanCode across sports categories to provide data and predictions through a detailed analysis of players and teams, supplemented by video representation, infographics, and even blogs as official authors.

It is interesting to note that fantasy sports has witnessed rapid growth and has grown from 20 million users in 2016 to 100 million in 2020. As fantasy sports is a skill-based fan engagement platform, to succeed at creating a winning team, it is crucial to research and study sports match conditions, player stats and multiple other factors. At the moment, there is a dearth of organized and reliable multiple sports data and statistics platforms in the market for sports fans to access.

Talking about the FanDuniya acquisition, Prasana Krishnan, Co-Founder of FanCode, said, “We are happy to merge FanDuniya’s expertise and services with FanCode’s sports data and statistics offering including the Fantasy Research Hub. In a short period, FanDuniya saw organic growth and favour among the fantasy sports users community. Being at the intersection of sports and technology, this strategic integration will help FanCode to scale our sports data and statistics offering and build a robust research and tech team.”

Talking about the new innings and sports research in India, Ramkumar V, Co-Founder of FanDuniya, said, “Sports fans are deeply engaged and constantly looking to equip themselves with in-depth understanding and knowledge of the sport they love. FanDuniya was founded with the idea to provide best-in class stats and research to fantasy sports users. FanDuniya’s  business proposition and expertise fits perfectly with FanCode’s aim to provide credible and comprehensive sports data and statistics. Synergising our  services, FanCode will become a single destination for sports fans providing comprehensive and authentic sports statistics, analysis, expert views, prediction and much more.”

Since the launch in 2019, FanCode has garnered over 1.5 crore+ users and launched interactive live streaming of matches with multimedia commentary, fastest live scores, news on the sports industry across the globe, bite-sized video content like match highlight packages, chat shows with sports personalities in a new-age format, fantasy sports research and expert opinions. FanCode Shop is the latest sports fan merchandising offering by FanCode that provides easy access to a range of authentic and affordable fan gear of leading sports brands. Dream Sports, India’s leading Sports Tech company, is the parent company of FanCode. Dream Sports also has Dream11 and DreamX as part of its portfolio brands.

Mahindra Manulife Mutual Fund Launches ‘Mahindra Manulife Focused Equity Yojana,’ that Concentrates on Investing in 30 Stocks

* Selection of the next potential winners through the GCMV process#

* High conviction focused portfolio with strong risk management processes

* Potential to generate relatively better risk adjusted returns

# GCMV is an internal process framework to optimize stock selection based on growth, cashflow, management and valuation

Mahindra Manulife Investment Management Private Limited (Formerly known as Mahindra Asset Management Company Pvt. Ltd.), a 51:49 joint venture of Mahindra & Mahindra Financial Services Limited (MMFSL) and Manulife Investment Management (Singapore) Pte. Ltd. (‘Manulife Singapore’) launches ‘Mahindra Manulife Focused Equity Yojana,’ an open ended equity scheme that aims to invest in maximum 30 stocks across market capitalization (i.e. multi cap). The scheme is suitable for investors who are looking for long term capital appreciation. It is also suitable for medium term investors looking for relatively better risk adjusted return potential. 

Mahindra Manulife Focused Equity Yojana (‘Scheme’) will be a professionally managed agile focused fund that aims to identify the most potential winning ideas through robust research and risk management. The Investment Style for construction of the Scheme’s portfolio of upto 30 stocks will be from across market caps. In addition, several factors will be considered for building the portfolio such as – domestic and global macro-economic dynamics; stage of business cycle of companies; absolute versus relative valuation; assessment of portfolio weight based on liquidity and market cap; sector’s future growth outlook; business outlook (priority to 1-3 years of growth); valuation of stock versus future growth; management capabilities and corporate governance.

Mr. Ashutosh Bishnoi, MD and CEO, Mahindra Manulife Investment Management Private Limited, said, “Indian economy and the equity markets are poised for a strong recovery, as the economy unlocks and we see improvement in corporate performance. Mahindra Manulife Focused Equity Yojana scheme is suitable for medium to long term investors looking for better risk adjusted market returns. The focused funds have the advantage to define their own market cap mix and hence the flexibility to find opportunities anywhere in the equity market. The selection of potential winners is done through research, adequate quality check, and by following a robust risk management process. The whole attempt is to ensure better risk adjusted return on investment”.

The New Fund Offer opens on October 26, 2020 and closes on November 9, 2020. The scheme will reopen for continuous sale and repurchase from within 5 business days from the date of allotment.

Mahindra Manulife Focused Equity Yojana under normal circumstances would invest 65% -100% in equity and equity related securities, upto 35% in debt and money market securities including tri-party repo, reverse repo, and upto 10% in units issued by REITs & InvITs. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully

Mr. Krishna Sanghavi, Chief Investment Officer – Equity, Mahindra Manulife Investment Management Private Limited said “The present equity market environment offers investors an opportunity to generate returns over the medium to long term horizon. Mahindra Manulife Focused Equity Yojana plans to invest in limited number of companies that have strong growth potential. Our endeavor is to construct a high conviction equity portfolio complemented by strong risk management processes. We expect to select potential winners through our GCMV process and offer investors reasonably better market returns.

Investors understand that their principal will be at moderately high risk

* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

About Mahindra Manulife Investment Management Private Limited and Mahindra Manulife Trustee Private Limited

Mahindra Manulife Investment Management Private Limited (formerly known as Mahindra Asset Management Company Private Limited) (MMIMPL) acts as the Investment Manager of Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund). On 29th April 2020 MMFSL divested 49% stake in MMIMPL to Manulife Investment Management (Singapore) Pte. Ltd. to form a 51:49 joint venture.

Mahindra Manulife Trustee Private Limited (MMTPL), (formerly known as Mahindra Trustee Company Private Limited) acts as a Trustee to Mahindra Manulife Mutual Fund (formerly known as Mahindra Mutual Fund). On 29th April 2020 MMFSL divested 49% stake in MMTPL to Manulife Investment Management (Singapore) Pte. Ltd. to form a 51:49 joint venture.

Learn more about MMIMPL on www.mahindramanulife.com, Twitter: @MahindraMMF

Facebook: @MahindraManulifeMutualFund

About Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 6.9 Million customers and has an AUM of over USD 10 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has over 1,300 MMFSL offices and reaches out to customers spread over 3,70,000 villages and 7,000 towns across the country. 

Mahindra Finance is the only Financial Institution from India to be listed on the Dow Jones Sustainability Index in the Emerging Market Category 2019. Mahindra Finance has been ranked 25th among India’s Best Companies to Work 2020 and Ranked 6th on the list of Best Large Workplaces in Asia 2020 by Great Place to Work® Institute. 

Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook: @MahindraFin 

About Mahindra 

The Mahindra Group is a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company by volume. It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countri

JOHNSON’S Baby Brings the New Cottontouch in the Indian Market

JOHNSON’S Baby has always strived to offer the best baby care products for mums across the world. Continuing the momentum, the iconic baby care brand recently launched the new Cottontouch® in India. The TVC highlights a mum’s commitment to providing the softest touch to her baby with the gentlest products. It has captured the uniqueness of the latest Cottontouch® and shared the messaging of softness one has never experienced before. The TVC has been released pan India in 10 languages.

Conceptualized by DDB Mudra Group, the TVC is a cluster of sequences where a mum bonds with her baby by using the new Cottontouch® range. She is seen embracing and experiencing the softness of Cottontouch® and is filled with a sense of wonderment of how soft her baby’s touch is. The TVC successfully communicates the product’s innovative ingredient that is natural cotton, its attributes like designed for zero irritation and promises to provide softness one has never experienced before.

Speaking about the launch, Manoj Gadgil, Vice President Marketing, Johnson & Johnson Consumer India said “Johnson’s has been at the forefront of providing the best baby care options through years. This campaign highlights the new range of Johnson’s Cottontouch® that promises mums products that will offer softness they have never experienced before. The new Cottontouch® is an innovative range of products that has cotton as the key ingredient and through this TVC we emphasise our commitment towards baby care through science and research. We brought this new range with a lot of love even during these unprecedented times only to enhance the mother-child bond with the softest touch.”

Commenting on the TVC, Rahul Mathew, National Creative Director, DDB Mudra Group, said, “For Johnson’s, we don’t just launch products, we evolve the mother-baby bond and their relationship with us as a brand. And touch is an essential part of this bond and relationship. And that’s what we’ve brought alive in the work.”

Link to the TVC: https://www.youtube.com/watch?v=92c8lzHL76g

Renault Expands Network Presence to More Than 415 Sales and Service Touchpoints in India

* Renault India has a wide-spread network of more than 415 sales and 475+ service touchpoints, which include 200+ Workshop On Wheels locations across the country  

* The increasing network is planned to support the strong product range and business strategy in India which is a key market for Renault’s international growth  

* After the TRIBER AMT; KWID 1.0L RXL and DUSTER Turbo Petrol launched recently, Renault launches KWID NEOTECH Edition  

Renault India announced the addition of 34 new sales and service touchpoints across India over last 2 months. This marks a total of more than 90 new sales and service touchpoints that Renault has added across India in less than a year. The aggressive network expansion is part of a strategic business focus to grow the brand across existing and emerging markets. The new dealership facilities are located in Madhya Pradesh Tamil Nadu, Uttar Pradesh, Karnataka, Gujarat, Haryana, Punjab, Telangana, Uttarakhand, Rajasthan, Maharashtra, Himachal Pradesh and West Bengal. 

With this expansion Renault India has bolstered its network presence to more than 415 sales and 475+ service touchpoints, which include 200+ Workshop On Wheels locations across the country, with benchmark sales and service quality.  

The dealership expansion comes at an opportune moment when Renault India is further strengthening its position in India. Renault achieved sales of 8,805 units in September, its highest sales volume in 2020. Renault holds a market share of 3.2% in 2020, which is a growth of 0.7 percentage points over last year, wherein Renault’s market share was 2.5%.  

This has been enabled by a strong demand for TRIBER and the TRIBER AMT, a good response to the newly launched versions in the KWID range and much excitement around the recently introduced 1.3L Turbo Petrol versions on the DUSTER. Renault is also seeing a surge in demand across rural markets and even better acceptance, which is a strong indication of the increasing popularity of the brand.    

“Renault India’s network presence is strategically expanding which is a testimony to the encouraging response that we are receiving, from both our customers and dealer partners. We are not only attracting new dealers in these times, but also getting more investments and expansion requests by existing partners. An increasing network presence is making it possible for us to cater to more customers across the country, and thereby playing an important role in our consistent sales volumes,” said Sudhir Malhotra, Head - Sales & Network, Renault India. 

India is one of the key markets for Groupe Renault and has been part of the top 10 global markets on a cumulative sales basis, for the last few years. The brand has some of the most popular global products in its portfolio, led by KWID which is one of the top cars for the group globally. TRIBER continues to garner an overwhelming response and has established itself as a breakthrough product. DUSTER keeps building on its legacy and sets itself apart as a true SUV, with superior capabilities and enhanced features.  

The newly inaugurated dealership facilities have been designed according to the RENAULTSTORE concept. RENAULTSTORE is a new generation of dealerships which have been conceptualized to best address the evolving needs of customers by highlighting the value of the brand, products, services and accessories in a modern and more effective manner. 

Renault is taking all necessary measures to safeguard the health and wellbeing of its customers and dealership partners. All dealerships - showrooms and workshop, are being completely sanitised every day before they are opened for customers. There is a manpower health screening for all dealership employees, and only post that employees are allowed to start their work.  

All dealerships are advised to maintain daily monitoring, social distancing, periodic temperature checks, regular sanitization including staff, customers, meeting rooms and test drive fleet. Masks and sanitizers are also advised to be made available across all showrooms and workshops.