General Insurance

The general insurer's shares tumbled after a 46 per cent drop in June-quarter profit, as higher claims, reserve provisioning and competitive pressures weighed on profitability

ICICI Lombard General Insurance reported a 46 per cent decline in first-quarter profit as higher claims, reserve provisions and large fire losses weighed on profitability

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

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

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

Gross direct premium underwritten by non-life insurers rose to Rs 24,194.56 crore in May, supported by steady growth in general insurance and strong gains in health insurance

The joint venture, awaiting regulatory approvals, will combine Jio's digital reach with Allianz's global expertise to expand insurance access in India

Jio Financial Services (JFS) is hoping to start general and life insurance businesses this year, a top company official has said. The financial services company does not have any immediate plan to get into the unsecured and consumer durable lending businesses. "We hope to start insurance manufacturing in 2026, subject to regulatory approvals," its chief executive and managing director Hitesh Sethia told PTI recently. The company, which recently entered the reinsurance business, along with its equal joint venture associate Allianz, will partner with the French company for general and life insurance businesses as well. Sethia said in parallel, the company is working towards building the necessary teams for the insurance foray. JFS, which is promoted by entities linked to the richest Indian Mukesh Ambani, has entered lending businesses, like assisting home buyers, asset management, wealth management and reinsurance, either by itself or through partnerships. Explaining its strategy i

Reinsurer withdraws marine hull war risk cover across key global hotspots, including West Asia and parts of the Black Sea, citing rising geopolitical tensions

HDFC ERGO CEO Anuj Tyagi resigns to pursue entrepreneurial plans, with the board starting a structured succession process to ensure leadership continuity

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