Insurance Sector

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

Insurers and distributors have warned that the changes could constrain near-term growth, hit distributor revenues and affect employment

From commission-free insurance plans to fee-only advisers and public complaint records, four reforms could improve transparency, curb mis-selling and help policyholders make informed choices

What electronic trading exchanges and central depositories did for capital markets in 1996, and credit bureaus did retail banking in 2000s, Bima Sugam and PIR are set to do for the insurance turf now

The effective dates under consideration are Jan. 1 and April 1, Girija Subramanian, an executive at the Insurance Regulatory and Development Authority of India, said

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 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

Irdai Chairman Ajay Seth says proposed insurance distribution reforms are not final and stakeholder feedback will be considered before draft regulations are issued

Irdai wants insurance prices and product details to be visible without sharing phone or email; its wider reforms could affect insurers, distributors and how customers buy policies

Irdai's proposals will help reduce mis-selling

The regulator proposes phased cuts to insurers' expense limits, new commission caps and a ban on compulsory bundling of insurance with loans to lower costs and curb mis-selling

Compare the higher premium with pure term cover, factor in inflation, and examine lapse and surrender terms

The insurance regulator has removed the requirement for prior approval to repatriate dividends by insurance intermediaries with majority foreign ownership

Indian Bank aims to enter the insurance and asset management spaces through joint ventures within 1.5 to 2 years, while launching wealth management services in H2

From policy and claims records to intermediary and grievance data, Irdai's proposal sets out what the registry could connect and how access would be controlled

Proposed registry will provide an interoperable access layer to verified insurance data, helping streamline policy servicing, claims and regulatory oversight

Regulator's action on EOM breaches signals tighter scrutiny of operating and distribution costs, though experts expect limited short-term business impact

Life insurers' new business premium rose 20.7% in July, led by strong growth in LIC's group business and steady expansion by private insurers

S&P Global Ratings says reforms and low insurance penetration support long-term growth, but underwriting pressures and weak profitability remain key risks for insurers

India's insurance sector is poised for 'massive' long-term growth, supported by structural reforms, low insurance penetration, and a favourable regulatory environment, but macroeconomic headwinds and profitability pressures remain key risks, S&P Global Ratings said on Thursday. In a report titled 'India Insurance Sector Trends', S&P said favourable regulatory reforms are attracting foreign capital and accelerating M&A activity in the sector. "Accelerated industry reforms and low penetration levels to drive massive sector growth in India. Liberalization, competition and regulatory changes will shape the insurance sector's development," the report said. The government had earlier this year approved 100 per cent foreign direct investment (FDI) in the insurance sector under the automatic route. S&P said both life and non-life insurance sectors have growth potential, but profitability of non-life insurers could continue to be strained as pricing philosophies lean heavily on