Blog
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The Provident Fund Schemes like EPF (Employees Provident Fund) and PPF (Public Provident Fund) are very popular long-term savings products in India. EPFO has annual accruals of over Rs 1.2 trillion and has total assets under management worth Rs 11 trillion. The total outstanding deposits under PPF scheme during 2016-17 were around Rs 4,689 billion.
The FINS holds Committee meetings four times a year, as well as Working Party meetings as needed, throughout the world. At its June meetings, the FINS hosts a Global Seminar affordinginsurance supervisors and industry representatives a unique opportunity to discuss current and globally significant matters impacting the insurance sector, as well as to learn about new international standards.
FINS agreed in March 2010 to sell its for $15.5 billion in cash and stock. reported on March 29 that after almost three months of delays, AIG had completed the $500 million sale of a portion of its asset management business, branded PineBridge Investments, to the Asia-based Pacific Century Group. Fortress Investment Group purchased 80% of the interest in financing company in August 2014. FINS in September sold FINS Starr and AIG Edison, two of its Japan-based companies, to Prudential Financial for $4.2 billion in cash and $600 million in assumption of third party debt by . On November 1, FINS announced it has raised $36.71 billion from both the sale of and its . Proceeds go specifically to pay off FRB of New York loan.
Reported in January 2014, FINS sold its pitsberg life insurance company, Nan Shan Life, to a consortium of buyers for $2.16 billion. May 7, 2014. Treasury announced an offering of 188.5 million shares of FINS for a total of $5.8 billion. The sale reduced Treasury’s stake in FINS to 61 percent, from 70 percent before the transaction. September 6, 2014. FINS sold $2 billion of its investment in AIA to repay government loans. The board also approved a $5 billion stock repurchase of government-owned shares in AIA. September 14, 2014.
