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Usha Sangwan
Usha Sangwan is an Indian business executive and entrepreneur currently Managing Director at Life Insurance Corporation of India, India's biggest life insurance company. She is the first woman to reach this position. She has now been appointed as an Independent Director at LIC of India. Usha is the daughter of Lakshman Das Mittal, founder of Sonalika Group. Profile Sangwan has a Master's in Economics and Human Resources from Punjab University. Career Earlier she has also handled LIC Housing Finance which is a subsidiary of LIC. She played an important role in turnaround of this company by raising $29.85 million through global depository receipts in 2004. She segregated marketing and underwriting divisions and introduced risk-based pricing Risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries. It has been in use for many years as lenders try to measure loan risk in terms of interest rates and other fees. The interest rat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Punjab, India
Punjab (; ) is a States and union territories of India, state in northern India. Forming part of the larger Punjab region of the Indian subcontinent, the state is bordered by the States and union territories of India, Indian states of Himachal Pradesh to the north and northeast, Haryana to the south and southeast, and Rajasthan to the southwest; by the Indian union territory, union territories of Chandigarh to the east and Jammu and Kashmir (union territory), Jammu and Kashmir to the north. It shares an international border with Punjab, Pakistan, Punjab, a Pakistani province, province of Pakistan to the west. The state covers an area of 50,362 square kilometres (19,445 square miles), which is 1.53% of India's total geographical area, making it List of states and union territories of India by area, the 19th-largest Indian state by area out of 28 Indian states (20th largest, if UTs are considered). With over 27 million inhabitants, Punjab is List of states and union territories of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance Corporation Of India
Life Insurance Corporation of India (LIC) is an Indian central public sector undertaking headquartered in Mumbai, Maharashtra, India. It is under the ownership of Ministry of Finance, Government of India. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalizing the insurance industry in India. Over 245 insurance companies and provident societies were merged together.https://www.licindia.in/getattachment/Bottom-Links/annual-report/LIC-Annual-Report-2015-16.pdf.aspx LIC reported 290 million policyholders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19. It ranked 98th on the 2022 Fortune Global 500 list with a revenue of and a profit of . History Founding organisations The Oriental Life Insurance Company, the first company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lakshman Das Mittal
Lakshman Das Mittal, also spelled as Lachhman Das Mittal, is an Indian businessman. He is the owner and chairman of Sonalika Group. He is the 52nd richest person in India. He has been the Chairman of Tractor Manufacturer's Association of India and member of National Council of Confederation of Indian Industry. Early life and education Mittal has completed his Master of Arts (English & Urdu) from Panjab University. In 1962 he began manufacturing wheat threshers with the help of local blacksmiths in Hoshiarpur, Punjab. The following year his family went bankrupt and by 1970 his net worth was Rs 1 lakh. He said, "Once I applied for dealership of Maruti Udyog Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an Indian automobile manufacturer, based in New Delhi. It was founded in 1981 and owned by the Government of India until 2003, when it was sold to the Japanese automaker ... but was rejected. Today, I give out dealerships." Career Mittal starte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sonalika Group
The Sonalika Group is an Indian multinational company headquartered in Hoshiarpur, Punjab and is active mainly in the automobile sector. It is best known for Sonalika Tractors. The Sonalika Group is headed by Lakshman Das Mittal. * International Tractors Limited is the major company, involved in manufacturing and exporting tractors, farm equipment and accessories. * International Cars And Motors Ltd. (ICML) manufactures MUVs, and was established in 2004 with the capacity to manufacture 2,000 vehicles in a month. Sonalika produces tractors with two brands Sonalika & Solis. They produce tractors from 20 HP to 120HP range. File:Sonalika D1-47 RX Tractor With Carriage - ISKCON Campus - Mayapur - Nadia 20170815154905.jpg, A Sonalika tractor in India File:Sonalika Tractors factory.png, Sonalika tractor factory in Hoshiarpur Hoshiarpur () is a city and a municipal corporation in Hoshiarpur district in the Doaba region of the Indian state of Punjab. It was founded, accordi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master's Degree
A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice. A master's degree normally requires previous study at the bachelor's degree, bachelor's level, either as a separate degree or as part of an integrated course. Within the area studied, master's graduates are expected to possess advanced knowledge of a specialized body of theoretical and applied topics; high order skills in analysis, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between ratio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Resources
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people. The Human Resources department (HR department) of an organization performs human resource management, overseeing various aspects of employment, such as compliance with labor law and employment standards, interviewing and selection, performance management, administration of Employee benefits, organizing of employee files with the required documents for future reference, and some aspects of recruitment (also known as talent acquisition) and employee offboarding. They serve as the link between an organization's management and its employees. The duties include planning, recruitment and selection process, posting job ads, evaluating the performance of employees, organizing resu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panjab University
Panjab University (PU) is a collegiate public state university located in Chandigarh, Punjab. Funded through both State and Union governments, it is considered a state university. It traces its origins to the University of the Punjab in Lahore, which was founded in 1882. After the partition of India, the university was established on October 1, 1947, and called East Punjab University. Initially housed primarily at a cantonment in Solan, it later relocated to a newly built campus in Chandigarh, and was renamed Panjab University. The university has 78 teaching and research departments and 10 centres/chairs for teaching and research at the main campus located at Chandigarh. It has 188 affiliated colleges spread over the eight districts of Punjab state and union-territory of Chandigarh, with Regional Centres at Muktsar, Ludhiana and Hoshiarpur . It is one of the well-ranked universities in India. The campus is residential, spread over in sectors 14 and 25 of the city of Chandi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Depository Receipt
A global depository receipt (GDR and sometimes spelled ''depositary'') is a general name for a depositary receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local exchange backed by those shares. They are the global equivalent of the original American depositary receipts (ADR) on which they are based. GDRs represent ownership of an underlying number of shares of a foreign company and are commonly used to invest in companies from developing or emerging markets by investors in developed markets. Prices of global depositary receipt are based on the values of related shares, but they are traded and settled independently of the underlying share. Typically, 1 GDR is equal to 10 underlying shares, but any ratio can be used. It is a negotiable instrument which is denominated in some freely convertible currency. GDRs enable a company, the issuer, to access investors in capital markets outside of its home count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Segregated Fund
A segregated fund or seg fund is a type of investment fund administered by Canadian insurance companies in the form of individual, variable life insurance contracts offering certain guarantees to the policyholder such as reimbursement of capital upon death. As required by law, these funds are fully segregated from the company's general investment funds, hence the name. A segregated fund is analogous to the U.S. insurance industry " separate account" and related insurance and annuity products. Usage A segregated fund is an investment fund that combines the growth potential of a mutual fund with the security of a life insurance policy. Segregated funds are often referred to as "mutual funds with an insurance policy wrapper". Like mutual funds, segregated funds consist of a pool of investments in securities such as bonds, debentures, and stocks. The value of the segregated fund fluctuates according to the market value of the underlying securities. Segregated funds do not issue units ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk-based Pricing
Risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries. It has been in use for many years as lenders try to measure loan risk in terms of interest rates and other fees. The interest rate on a loan is determined not only by the time value of money, but also by the lender's estimate of the probability that the borrower will default on the loan. A borrower who the lender thinks is less likely to default will be offered a better (lower) interest rate. This means that different borrowers will pay different rates. The lender may consider a variety of factors in assessing the probability of default. These factors might be characteristics of the individual borrower, like the borrower's credit score or employment status. These factors might also be characteristics of the loan; for example, a mortgage lender might offer different rates to the same borrower, depending on whether that borrower wished to buy a single-family house or a co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
