Insurance Sector

HDFC ERGO General Insurance appoints Parthanil Ghosh as managing director and chief executive officer from April 16, subject to regulatory approvals

GIC Re's decision to withdraw war-risk cover in sensitive maritime zones highlights the fragile economics of marine insurance and raises concerns for Indian refiners dependent on global oil shipments

QBE Insurance Group will acquire Prism Johnson's 51 per cent stake in Raheja QBE for Rs 324 crore, making it the first foreign insurer to fully own Indian general insurance company after FDI reforms

To smooth the transition, Irdai has proposed parallel reporting under both Ind AS and Indian GAAP during the first year of implementation

Strong retail demand, higher government scheme premiums and GST rationalisation fuelled robust January growth for general and standalone health insurers

Industry players meet Irdai chief; upfront payouts may be deferred to reduce acquisition costs

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce and Industry Ministry has notified 100 per cent foreign direct investment (FDI) in the insurance sector following the enactment of legislation in this regard. The Government of India has reviewed the extant FDO policy on insurance sector and has made the amendments under the Consolidated FDI Policy of 2020, as amended from time to time, the DPIIT said in a notification. As per the Press Note No. 1 (2026 Series), 100 per cent FDI is allowed in the insurance companies under automatic route. In case of Life Insurance Corporation of India, only 20 per cent is permitted through automatic route. In an Indian insurance company having foreign investment, at least one among the chairperson of its board, its managing director and its chief executive officer, shall be resident Indian citizens, it said while specifying other conditions. Parliament passed Sabka Bima Sabki Raksha (amendment of insurance laws)

Financial Inclusion 2.0 plan aims to deepen access to banking, credit, insurance, pension and digital services, targeting universal coverage by 2047

MUMBAI, Feb 6 (Reuters) - South Korean firms Samsung Fire & Marine Insurance, Mirae Asset Financial Group and Hyundai Marine & Fire Insurance Co are in exploratory talks about entering India's $130 billion insurance market, three Indian sources said.

In a post-earnings analyst call, ICICI Prudential Life Insurance's management said the MFI-linked credit life segment has begun to revive during the quarter

On hiking FDI in PSBs, DFS Secy M Nagaraju says govt is considering raising the FDI cap to 49% from 20% to boost capital; inter-ministerial consultations are underway

Health insurer expects profitability in the March quarter as impact of accounting norm changes eases, with Indian-GAAP numbers set to converge with IFRS

High acquisition and distribution costs are hurting insurance affordability, limiting reach to the 'missing middle' and keeping penetration stuck despite rising insurance density

From a macroeconomic perspective, LIC's integrated balance sheet enables counter-cyclical investment, stabilisation of long-term bond markets and long-term infrastructure financing

The 2025 insurance law amendments removing the FDI cap signal a decisive shift towards capital depth, competition and technology, strengthening India's push for Insurance for All

Financial Services Secretary M Nagaraju on Monday highlighted the role of IFSCA in advancing India's aspiration to becoming a global reinsurance hub and encouraged Indian insurers and reinsurers to tap global opportunities through GIFT City. India stands at the cusp of transformative growth in its reinsurance sector, Nagaraju said speaking at the IFSCIRDAIGIFT City Global Reinsurance Summit in Mumbai, according to a finance ministry statement. Insurance and reinsurance were emphasised as crucial in driving India towards its economic objectives, particularly as the country strengthens its role in the global economy, he said. As per a Swiss Re report, India remained the 10th largest insurance market globally by nominal premium volumes in 2024, with a market share of 1.8 per cent. Insurance penetration stood at 3.7 per cent, with life insurance at 2.7 per cent and non-life at 1 per cent, while insurance density increased marginally to USD 97, indicating significant untapped market ...

Swiss Re flags India as the world's fastest-growing major insurance market by the end of the decade

Most analysts highlighted that the insurer's ability to sustain margins despite the loss of GST input tax credit was the key takeaway from the Q3FY26 results.

Nageswaran called for mainstream banks to not merely be spectators to the process of formalisation of the economy but to actively absorb new proven borrowers into their core portfolios

In April-December period, premiums are up nearly 14% YoY