Irdai's 'Insurance for All by 2047' vision aims universal coverage, but falling penetration, rural access gaps and affordability challenges raise questions over achieving the target
Industry sees strongest growth since FY23 as new business premium crosses Rs 4 trillion, driven by GST cut, product launches and recovery after regulatory changes
Insurance companies have shared the data on distributor commissions with Irdai as the regulator reviews distribution models amid concerns over high costs but are yet to get a response
India’s insurance regulator, Insurance Regulatory and Development Authority of India (IRDAI), has directed insurers and aggregators to eliminate “dark patterns” from digital platforms,
Irdai strengthens cyber security framework with tighter board oversight, quarterly risk reviews and enhanced compliance norms for insurers and intermediaries
Panel will assess coverage, claims, product design, and consumer experience, and suggest regulatory and operational steps to boost penetration, trust, and innovation
Most insurers may seek one-year relief from Ind AS transition deadline as system readiness and automation gaps persist despite progress on proforma submissions
Insurance stocks fall up to 4% as weak March quarter outlook, geopolitical tensions and regulatory changes weigh on growth, margins and investor sentiment
Irdai retains LIC, New India Assurance and GIC Re as systemically important insurers for FY26, mandating enhanced supervision, governance norms and risk management oversight
Irdai asks insurers to assess compliance with dark pattern norms within 15 days and submit corrective action plans within a month for any non-compliance
Indian states raised around 400 billion rupees ($4.22 billion) earlier in the day, of which 180 billion rupees, or 45% of the amount, was raised at cutoff yields ranging between 8.00% and 8.09%
India’s insurance regulator is introducing a major accounting reform from April 1. Insurers will adopt the Ind AS 117 framework, a global standard for insurance reporting.
Bima Sugam to introduce standardised motor, health and life products this year, while Irdai plans a Public Insurance Repository to enhance data infrastructure and analytics
In a press release following its 134th board meeting, the regulator said it had granted certificates of registration to one reinsurer and one general insurer
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
Insurers preparing for IFRS and risk-based capital frameworks are stepping up actuarial hiring, but limited supply, high turnover and rising reporting complexity pose challenges
