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December 25, 2024

• INDIA’S INSURANCE PENETRATION DIPPED IN FY24 WHEREAS ITS DENSITY SAW AN INCREASE
• IRDAIAnnualReport 2024
• INDIA’S INSURANCE PENETRATION
• 3.7% (FY24) Vs 4% (FY23)
• -Life Insurance Penetration
• 2.8% (FY24) Vs 3% (FY23)
• -General Insurance Penetration
• Flat At 1% Between FY24 & FY23
• *Insurance Penetration= Insurance Premium/GDP
• INDIA’S INSURANCE DENSITY
• USD 95 (FY24) Vs USD 92 (FY23)
• -Life Insurance Density
• Flat At USD 70 Between FY24 & FY23
• -General Insurance Density
• USD 25 (FY24) Vs USD 22 (FY23)
• *Insurance Density= Per Capita Premium
• S & S POWER SWITCHGEAR: Fraud/cyber-crime was detected in online transfers made by company officials on December 20, 2024, based on messages from a fraudster.
• An FIR was filed on December 21, 2024, and investigations are ongoing.
• The estimated financial impact is Rs. 1.58 Crores.
• SEJAL GLASS: Board Meet On 30 Dec To Consider Fund Raising Via Equity shares
• DEEP IND: BOARD MEET ON 28 DEC TO CONSIDER FUND RAISING VIA QIP
• INTERNATIONAL GEMMOLOGICAL: The company has acquired 100% stakes in IGI Netherlands B.V. for USD 88.44 million ( 751 Cr ) and International Gemmological Institute BV for USD 69.76 million(592 Cr ), making them wholly owned subsidiaries.
• IFGL REFRACTORIES: Company has incorporated a public limited company, 'IFGL – Marvels Refractories Limited' on December 24, 2024, following its joint venture agreement with Marvels International Group Co Ltd (Seychelles) and Marvel Refractories (Anshan) Co Ltd (China) to set up a Rs 300 crore greenfield facility in India for manufacturing magnesite/chrome bricks.
• HLE GLASCOT: Update On Acquisition
• Company subscribed to 54,512 equity shares of CMAPL at ₹617 per share, totaling ₹3.36 crore, on December 24, 2024, via rights issue.
• HG INFRA: H.G. Green Energy Pvt Ltd transferred a 26% stake in four wholly-owned subsidiaries to Stockwell Solar Services Pvt Ltd. These entities are no longer wholly-owned but remain subsidiaries of H.G. Infra Engineering Ltd.
• NALCO: Mining lease deed for Utkal-D and Utkal-E Coal Blocks signed on December 24, 2024, with the District Collector, Angul.
• The agreement aims to increase NALCO's coal production capacity to 4.0 MTPA, enhancing fuel security for the Captive Power Plant. The lease is valid until April 21, 2051.
• Medplus Health
• Resignation of Chief Retail Officer due to personal reasons.