Commercial fire insurance premiums fell 13.6 per cent in September, compared with a 24.8 per cent decline in August, as catastrophe losses prompted insurers to ease discounting
Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028
ICICI Lombard's Q2FY27 net profit rose to Rs 946.4 crore on premium and investment income growth, while underwriting losses widened and the combined ratio reached 107 per cent.
The insurer's net premium income rose 16.56 per cent to Rs 13,804 crore in Q2FY27, while value of new business grew 20.3 per cent to Rs 712 crore, with margins improving
Retail protection growth and a favourable product mix are expected to support life insurers' Q2FY27 profitability, while higher claims ratios could weigh on general insurers.
Both options can lower premiums, but they increase out-of-pocket expenses during claims. Understand how they work before choosing a health insurance policy
ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure
LIC and private life insurers drive strong new business premium growth, while general and health insurers lift non-life premiums despite a sharp decline in crop insurance collections
The GST Council's decision to allow input tax credit on employee group health and life insurance is expected to reduce coverage costs for employers, particularly MSMEs
Insurance brokers have sought a deeper assessment of Irdai's proposed distribution reforms, warning of a 60-70 per cent revenue impact and around 1 million jobs at risk
Allowing employers to claim ITC on GST paid on group health and life insurance could lower effective costs, address a tax disparity and encourage wider employee coverage
The Insurance Regulatory and Development Authority of India proposed the rules as part of a discussion paper in late September and invited stakeholders to submit feedback by October 25
Non-life insurers have discussed a 10 per cent co-payment on inpatient hospitalisation costs, but industry executives say the proposal is unlikely to get Irdai's nod
The brokers' body said proposed commission caps and lower expense limits could hurt employment and competition while reviving unethical business practices
Bagchi's last working day at ICICI Prudential Life will be October 13; he is expected to be introduced to HDFC Bank investors when it announces Q2 results
The incumbent Anup Bagchi has tendered resignation after HDFC Bank announced his appointment on Thursday as MD & CEO of the bank, effective from October 13, 2026
Brokers say lower payouts may not necessarily translate into cheaper premiums and could instead squeeze servicing economics, trigger consolidation, and weaken insurance distribution
Brokers' body says proposed commission caps and lower expense limits could lead to job losses, weaken independent distribution and hurt insurance access in smaller towns.
