General Insurance

India plans to sell a total of 10 per cent stake in the insurer in tranches to meet the market regulator's minimum public shareholding norm, Reuters reported last year

he insurance industry saw both positives and negatives from GST reform, with increased affordability driving growth in retail term and health, while ITC changes hit profitability

The Finance Ministry is considering an earlier proposal to merge the three state-owned general insurance companies into a single entity, following their improved financial health, to achieve better efficiency and scale. The government infused Rs 17,450 crore between 2019-20 and 2021-22 in three PSU general insurance companies, namely Oriental Insurance, National Insurance and United India Insurance, to bring them out of financial distress. In the Budget for 2018-19, the then finance minister Arun Jaitley announced that the three companies -- Oriental Insurance, National Insurance, and United India Insurance -- would be merged into a single insurance entity. However, the government dropped the idea in July 2020, and the Union Cabinet rather approved a capital infusion of Rs 12,450 crore into the three general insurance companies. As their finances have improved, the finance ministry is doing a preliminary assessment of the merger of these entities with a view to improving their ...

At the BFSI Insight Summit 2025, insurance leaders urged joint action on climate, cyber, and EV risks - calling for innovation, tech collaboration, and universal insurance coverage

The government’s latest fiscal stance with the Goods and Services Tax (GST) rate cut on health insurance has elevated insurance to the same priority level as essential goods like food

Group insurance from banks may be affordable and easy to onboard but customers must watch for coverage limits, exclusions, and renewal risks before signing up

With penetration slipping to 3.7% in FY24, general insurers roll out "Acha Kiya Insurance Liya" campaign modelled on mutual fund success to drive awareness

Sanjay Joshi, currently GM at United India Insurance, recommended by FSIB to lead Oriental Insurance as CMD, following R R Singh's retirement in February

The general insurers' premium grew by 5.20 per cent Y-o-Y to Rs 2.58 trillion at the end of FY25

Growth has varied across standalone health insurers (SAHI), which Ind-Ra expects to grow 21 per cent Y-o-Y in FY26

Inusrers with 5 per cent to 10 per cent share in Motor TP segment must expand their insurance by 7.5 per cent over the last year

Public Sector General Insurance Companies (PSGICs) have achieved financial turnaround in the December quarter, posting a combined profit of Rs 1,066 crore on the back of various reforms by the finance ministry. Public sector general insurance companies (PSGICs), that historically reported losses, witnessed a major turnaround with all of them becoming profitable again, the finance ministry said in a statement on Thursday. While Oriental Insurance Company Ltd (OICL) and National Insurance Company Ltd (NICL) started posting quarterly profits from Q4 of 2023-24 and Q2 of 2024-25, respectively, United India Insurance Company Ltd (UIICL) posted profit in Q3 of 2024-25 after a gap of seven years, it said. Notably, New India Assurance Company Ltd (NIACL) has consistently maintained its position as a market leader and has been making profits regularly, it said. New India Assurance Company recorded nearly 51 per cent drop in net profit to Rs 353 crore for the third quarter of the current ...

Groups seek parity with what LIC employees earn, say salary revision due since 2022

The proposed introduction of 100 per cent FDI in the insurance sector and other amendments to insurance laws by the Central Government were also discussed

SBI General Insurance Posts an Impressive 273% PAT Growth in 9M FY25

Total premiums across all insurance categories reached Rs 11.19 trillion in 2023-24 while insurers paid out Rs 7.66 trillion in claim settlements, Irdai said in its annual report

Health and motor insurance will continue to be our two most important segments

Breakout stocks: The strong surge in GIC RE share came as the stock witnessed a multi-year trendline breakout roughly above Rs 400 level

The industry leaders were discussing the future of the sector at Business Standard's BFSI Summit 2024 on Friday

Top CEOs see green shoots of growth driven by a slew of new initiatives taken by regulator Irdai and the govt