Life Insuracnce

Union Minister Amit Shah on Monday said a cooperative life insurance company will be set up to boost the growth of cooperatives in the country. At a function in the national capital to mark the 5th Foundation Day of the Ministry of Cooperation, Shah said the establishment of the ministry has given a new "lifeline" to India's cooperative movement, which was a "neglected movement" during the Congress rule. The Cooperation Minister said 'Bharat Taxi' has been doing well and would be expanded into 500 cities in the next two years. On similar lines of Bharat Taxi, Shah said: "We will be setting up a life insurance company in the cooperative sector. This will help in the growth of cooperatives in the insurance sector". He mentioned the fertiliser cooperative IFFCO is already in the insurance business through a joint venture with a Japanese firm. India has around 8.5 lakh cooperatives with more than 30 crore members. The minister listed out the initiatives taken by the ministry in the l

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Life insurers reported a sharp rise in new business premium in April, driven by strong growth in LIC and private insurers amid continued GST-related momentum

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

LIC in a regulatory filing said that its board will meet on April 13 to consider and approve a proposal for the issuance of bonus shares.

Iran-related geopolitical tensions have triggered significant notional losses in LIC's investment portfolio, weighing on its stock price, says Geojit Investments.

Claims tied to SRCC, strikes, riots and civil commotion, are emerging as a growing headache for insurers as episodes of unrest increasingly lead to the destruction of property in Western democracies

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.

Analysts flag 175-350-bp hit despite healthy premium growth

Life insurers clocked nearly 40% year-on-year growth in December new business premiums, led by LIC and aided by GST rationalisation that improved affordability

MOFSL has named Max Financial Services Ltd (MFSL), the parent of Max Life Insurance, as its preferred pick in the sector

At the Business Standard BFSI Insight Summit 2025, industry leaders said that Bima Sugam can make insurance more accessible, affordable and transparent, helping reach more people across India

The life insurer's Rs 2,500-cr IPO is an offer for sale by existing shareholders, with CEO Anuj Mathur saying no fresh capital is needed for expansion

Policyholders may delay their insurance purchases using the free look period option to benefit from the nil GST on premiums, effective from September 22

Bima Sugam India Federation said the digital insurance marketplace will launch in phases this year with pilot insurer integrations and gradual customer onboarding

Data from insurers' annual reports show ICICI Prudential Life Insurance covered 91.74 million lives in FY25, down from 96.61 million in FY24

Life insurance policy sales dropped 10.11% YoY in Q1FY26 to 4.8 million, with muted demand and new surrender value norms contributing to the decline

The Supreme Court has said insurance companies are not liable to pay compensation to the families of individuals who die as a result of their own rash and reckless driving. A bench of Justices PS Narasimha and R Mahadevan refused to grant 80 lakh compensation sought by the wife, son and parents of a man who died while driving a car at high speed. The top court refused to interfere with the Karnataka High Court's order dated November 23 last year which had dismissed the plea filed by the deceased legal heirs claiming compensation. "We are not inclined to interfere with the impugned judgment passed by the high court. Hence, the Special Leave Petition is dismissed," the bench said in an order passed on Wednesday. On June 18, 2014, one N S Ravisha was driving from Mallasandra village to Arasikere town when the accident took place. His father, sister and her children were travelling in the car. The court had found that Ravisha drove the car in a negligent manner without following traff

Rising premiums for longer durations and features like smart exit prompt shift to shorter term insurance policies with higher sums assured of ₹2-5 crore

Paperwork reduced and instant assistance assured on platform, say top insurance companies