General Insurance

The Employees' State Insurance Corporation (ESIC) has extended the New Amnesty Scheme, 2025, for three months till December 31, 2026, giving employers and insured persons more time to resolve pending cases, a labour ministry statement said. Post review of representations from various stakeholders, the Employees' State Insurance Corporation has extended the 'New Amnesty Scheme, 2025' which ran from October 1, 2025, to September 30, 2026, for a further period of three months -- from October 1, 2026 to December 31, 2026 -- on existing terms and conditions, the statement said. The 'New Amnesty Scheme 2025' is a one-time dispute resolution initiative aimed at reducing the backlog of court cases and promoting compliance under the erstwhile ESI Act. It provides a structured mechanism for employers to resolve legal disputes with ESIC for an out-of-court settlement. The scheme allows settlement of ad-hoc assessments by paying actual contributions and interest, without damages being levied,

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

IndusInd General Insurance Company Ltd (formerly Reliance General Insurance), part of IndusInd International Holdings Ltd (IIHL) Group, on Tuesday announced the appointment of Sharad Mathur as its Managing Director & CEO, following statutory approvals. Mathur brings three decades of experience in the insurance and financial services industry, with a strong track record in organisational transformation, distribution expansion, technology-led innovation, growth and governance, the company said in a statement. Prior to joining IndusInd General Insurance, he served as MD & CEO of Universal Sompo General Insurance for over six years, leading its transformation and strengthening its distribution, risk management, and tech-led customer servicing capabilities. Earlier, he held leadership positions at SBI General Insurance and ICICI Lombard, contributing to their growth from their formative stages. At IndusInd General Insurance, Mathur will lead the company's next phase of ...

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.

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.

Insurance copayment will not address deeper problems

Partnership will use Swiss Re's international platform to offer structured risk solutions to Indian companies

Shares of general insurers advanced after the Supreme Court directed the insurance regulator to consider longer Motor Third Party insurance tenures and measures to improve insurance coverage.

Insurance body says the advisory follows ICMR and health ministry guidelines, aims to curb unnecessary hospital admissions and does not restrict doctors' clinical autonomy

General insurer says it spends up to 1.5% of annual premium income on technology and AI, while launching 25 new products and digital solutions to mark its silver jubilee

Regulator also approves reforms covering investment norms, intermediary registration, capital raising, governance and policyholder protection measures

ICICI Lombard faces pressure from rising motor claims, Supreme Court-related provisions and weak underwriting, prompting expectations of earnings downgrades across the sector

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