Page 12 - Aathira Varier

Watershed moments: How technology bolstered the financial inclusion

Govt started groundwork 50 yrs ago, but adoption and advancement of tech have sped up growth of financial services

Irdai flags issues at 8 insurers over health master circular norms

Regulator begins phased inspections of health insurers; issues linked to claims settlement and compliance with the new Health Insurance Master Circular

LRS remittances rise 8.6% in April 2025 on travel, investment boost

April 2025 outward remittances under the RBI's LRS rose 8.6 per cent YoY to $2.5 billion, but full-year outflows fell by 6.85 per cent amid global uncertainty and high base

Marine insurers monitoring Israel-Iran war, may have to up coverage rates

In case the war escalates, insurers can cancel war risk coverage, and increase marine insurance rates

Credit card spends up 14.5% to ₹1.89 trn in May 2025; HDFC, SBI lead

Spends rose to Rs 1.89 trillion in May 2025 with 2.7 per cent M-o-M growth, supported by strong card issuances and led by HDFC Bank, SBI Cards and ICICI Bank

Cholamandalam MS General Insurance likely to go public in five years: MD

The insurer aims to grow 1.25x of industry rate in FY26, reduce motor share and touch Rs 10,000 crore premium this year, with an IPO likely within five years

GIC Re will keep a provision of around ₹200 cr for Air India tragedy: CMD

Narayanan says GIC Re's exposure is limited; aviation and regional premiums may face upward pressure

Insurers clock rise in parametric claims amid extreme weather events

Policy pays claims automatically when a predefined event meets a specific threshold

Rise in helicopter crashes may spur 15-30% hike in insurance premiums

A string of helicopter accidents in India and global reinsurance losses may raise premiums by up to 30 per cent, with smaller operators already facing steep hikes

The great disconnect: More bank branches, and same old ATM count

ATM growth remains flat despite rising branch expansion as digital payment preferences and high ATM maintenance costs reshape banking strategy

Aviation insurance premiums may see up to 10% spike post Air India crash

Following the AI-171 crash, global reinsurers may raise aviation rates, with insurers expecting 5-10 per cent premium hikes in FY27 amid mounting claims

Ahmedabad plane crash: Life insurers speed up claim settlement for victims

LIC, HDFC Life, and Bajaj Allianz have introduced fast-track claim processes and relaxed documentation to support families affected by the Air India crash in Ahmedabad

Crash likely to trigger claims up to $150 mn for insurers, reinsurers

About 10 per cent of the claims are likely to come on the books of Indian insurers and reinsurers, according to industry observers

FSIB recommends R Doraiswamy as LIC MD & CEO; Cabinet to give final nod

FSIB has proposed LIC MD R Doraiswamy for the top role of MD & CEO, with the Appointments Committee of the Cabinet set to take the final call amid a wider leadership reshuffle

Microfinance credit quality dips in FY25; NPAs rise to ₹55,000 crore

Microfinance sector sees worsening credit metrics in FY25 with PAR 31-180 and NPAs rising sharply amid disbursal decline and external disruptions, says MFIN

Non-life insurers' premium rises 6.3% in May, led by health players

Non-life insurance premiums rose to ₹22,126.72 crore in May 2025, with robust contributions from standalone health and specialised insurers despite regulatory format changes

New business premium of life insurers in May grows around 13%, shows data

Individual business grew 3.35 per cent Y-o-Y to Rs 10,611 crore, while group business expanded by 18.4 per cent Y-o-Y to Rs 19,851.8 crore

Overexposure to group business a challenge for LIC, say analysts

LIC's solvency ratio rose to 211 per cent in FY25 from 187 per cent in FY23

Three months after Panda's exit, Irdai chairperson post remains vacant

Absence of a regulator stalls key insurance reforms including Bima Trinity, composite licence, and risk-based capital framework

RBI's revised QA norms to boost compliance, broaden microfinance reach

Industry body says lowering QA threshold for NBFC-MFIs to 60% will improve compliance, enable diversification, and support long-term sector sustainability