Aathira Varier

Rising medical costs and greater awareness are driving demand for unlimited sum insured health plans, with millennials, Gen Z and consumers in smaller cities leading the shift

GIC Re chief Hitesh Joshi outlines plans to strengthen underwriting, diversify globally, expand specialty reinsurance and capitalise on emerging risk opportunities

Business updates from public and private sector banks showed advances growing faster than deposits during the April-June quarter, reflecting sustained credit demand

South Indian Bank, Tamilnad Mercantile Bank and Dhanlaxmi Bank reported stronger growth in advances than deposits during the April-June quarter of FY27

Policybazaar parent will fund its payments arm to support business expansion and set up two DIFC-based subsidiaries for insurance advisory and reinsurance services

Approximately 1,000 Deutsche Bank employees in India are expected to join Kotak Mahindra Bank as part of this transaction

Reflects policyholder dissatisfaction, product mis-selling, among others

Irdai Chairman Ajay Seth says Bima Sugam will roll out initial motor, health and term insurance products by September-end as insurers complete technology integration with the platform

Bank lending to NBFCs surged 33.7 per cent year-on-year in May, helping drive services sector credit growth, while industry, retail and agriculture lending also remained strong

The lender hired more than 31,000 employees during FY26 and expanded its branch network, while reducing attrition and stepping up investments in AI and workforce productivity

Yes Bank said the fundraising would not result in more than 10% dilution of existing shareholders' stake

The insurer plans to focus on profitable growth by expanding retail health, fire and SME insurance while reducing exposure to intensely competitive group health business

SBI Card added the highest number of new credit cards in May as the industry added nearly one million cards, while credit card spending rose to Rs 2.02 trillion

Life insurers reported healthy growth in value of new business in FY26 as higher sales of protection and non-par products lifted profitability despite higher operating costs

The central bank's draft guidelines require board-approved model risk frameworks, stronger oversight of AI models and enhanced safeguards for customer-facing artificial intelligence applications

Government sets ambitious FY27 KPIs for PSU insurers, targeting lower claims ratios, faster settlements and stronger digital adoption

Chairman Keki Mistry says favourable demographics, rising financial awareness and regulatory reforms will support long-term growth in India's life insurance sector

Axis Bank scales up AI deployment across operations, customer service and risk functions, targeting wider automation and productivity gains by FY27

Private life insurers are ramping up agency investments to diversify distribution as concerns over bancassurance mis-selling trigger closer scrutiny

Insurers' loss ratio is estimated at 60-70%, 10-15 percentage points lower than last season