Insurance regulator Irdai has reduced the share-transfer approval fee from ₹50 lakh to ₹10 lakh and clarified compliance requirements for insurer IPOs, ESOPs and amalgamations
PB Fintech reported a strong Q2 FY27 with revenue up 35 per cent year-on-year (YoY) at ₹2,178 crore and profit after tax (PAT) up 43 per cent YoY at ₹192 crore.
Shriram Finance expects a Rs 100 crore reduction in insurance commissions, while Piramal Finance estimates an 18-24 basis point impact on return on assets if Irdai's proposed rules take effect
Irdai has proposed product- and channel-specific caps on insurance commissions, lower expense limits for insurers; banks are exploring mutual funds and forex to offset potential income losses
Ajay Seth says India's insurance sector must grow 1.5-2 times faster than the economy, with faster claims settlement, greater transparency and lower distribution costs key to expanding coverage
At the BFSI Insight Summit 2026, Irdai chief Ajay Seth called for transformative reforms to help insurance grow up to twice as fast as India's economy, with faster claims and wider coverage
Business Standard BFSI Insight Summit: Life insurance industry leaders called for phased transition to proposed distribution reforms, saying insurers need time to adjust costs while expanding coverage
Life insurance companies have called for a longer transition period to implement the proposed distribution reforms, saying the changes could lower costs and improve customer outcomes
Speaking at the Business Standard BFSI Insight Summit 2026, Irdai Chairman Ajay Seth discussed the insurance sector's role in India's economic growth and the need for faster expansion and reforms
The insurance regulator has received more than 650 comments on its proposals to revise expense limits and commission structures for insurers and distributors
Banks are exploring higher policy sales and changes in product mix to offset potential fee income losses, while RBL Bank estimates a 50-60% decline in bancassurance income
Irdai chief Ajay Seth says distribution reforms aim to improve efficiency without disrupting existing business models; Public Insurance Registry beta is due by January 2028
Sebi seeks to include insurance and bank deposit details in consolidated account statements to give investors a comprehensive view of their financial assets
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
Insurers want a mandatory 10 per cent co-pay on retail health policies for lower premiums, but with non-payable costs, policyholders could end up paying 15-19 per cent of hospital bills.
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
ICRA expects the impact of proposed commission caps and expense limits to become more visible in FY28, with health and life insurers and smaller players facing greater pressure
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
